All Forum Posts by: Josh Garner

Didn't build it, but still considering

Hey BP! What are some ways I can reduce my tax liability on my rental property? After reviewing my taxes, I earned $26,400 in rental income on my property, and all expenses (mortgage interest, repairs, depreciation, insurance, etc) totaled to about $13,900, leaving me with about $12,500 in taxable income. Any way to reduce this liability and invest these gains back into real estate without doing a cash-out refi?

For whatever it's worth, I got a bid last year from a contractor for a 450-sf 2-car garage, with apartment dwelling on top (my neighborhood is near Spork and Backporch Coffee). The entire ADU estimate cost, including permits was for $95k. Everybody's doing it:)

Welcome to Oregon and to BP!!

Right on! You got this!!!

Thanks for the input! It is a SFR, up on Missionary Ridge. I figured I'd have to wait through the 6-month seasoning period, and do 75% LTV.

Hey Ryan!

I'd recommend arming yourself with as much education as possible, so you don't fall into any traps....

Download a good rental property evaluator app or analysis tool online so you can plug in numbers and get an overall idea of each property. Then compare stats on the properties you analyze. I use "Property Evaluator"

Estimating rehab costs is a tricky one. Homewyse.com is a good place to start.

And of course, Brandon Turner's "The Book on Rental Property Investing" is solid gold for a newer investor, looking to learn the ropes.

I hope this gets you started!

Anyone know of a lender who will do 80% or more LTV cash-out refi on a Chattanooga BRRR property? I close on the home in 3 weeks and am hoping renovations will be completed 1 month later. I'll be looking to cash out refi as soon as possible, after it's rented. Thanks!

Thanks Ramiah! Not interested in Bend flips right now though.

Hey BP! After eating up articles, podcasts and books from Bigger Pockets over the last 6 months, I've decided to engage a bit:) Not exactly sure why or where it will lead, but in general I think it's always good to reach out and make intentions known, learn and contribute whenever I can. About me....I'm originally from Georgia, and after years of adventure travel and mountain guiding all over the world, I've landed in Bend, Oregon, where my wife and I have lived for 5 years. My passions are mountains, people and real estate. My first investment properties included buying and selling Arizona land through gov auctions and eBay sales when I was in college - a great way to pay off student loans! I now own 2 properties in Bend, my home and a rental duplex. I caught a huge break in the aftermath of 2008, house hacking my way into my first home, and building sweat equity, eventually turning one property into 2. I'm actively looking to acquire more properties, although my home market has most likely "priced me out." I've already identified more markets that I'd like to invest in, and have taken action to make that happen. I'd like to think I'm being proactive! I'm grateful to have learned from the forums, articles and podcasts on BP and look forward to contributing whatever I can as a relatively new landlord/investor/student in real estate! Cheers!