All Forum Posts by: Josh Levy

If the property manager in the location we find a property can handle the leasing, they will probably do it.

We are looking for a referral to a commercial property manager in Arvada, Colorado. Any referrals would be greatly appreciated!

 Looking in the retail and shopping center arena. That is our main focus at this time.

I am looking to potentially invest in NNN commercial properties in the maximum $2million price range.

I am looking at doing the same thing. Still trying to find the right property. Keep me posted when you find something!

My wife has her own Interior Design firm and is working remotely with a lot of her clients during COVID. She does renderings of the space and does the design/selection of items too. Let me know if you would like more information. 

@Kaizen B. You could contact your CPA and determine if it makes sense to amend the prior years. If this is a property that already generated a passive loss, it may not generate a tax refund unless you had other passive income that it may offset. Worth looking into though.

@Nick Akey probably not necessary at this time. You could estimate your annual depreciation to see if that would wipe out any net taxable profit from the rental. When doing so, be sure to do an appropriate allocation between building and land. Land is not depreciable. Remember, only the interest portion of a mortgage is deductible, so be sure not to deduct your entire mortgage payment when coming up with an estimated taxable net income.

Hi Allen, 

Thank you! We do have enough equity to easily cover the $50-$60k additional loan. Put 30% down and home is currently worth about 20-30% more than what we paid for it. I agree, a HELOC should be used for faster things where repayment is going to be in 1 year or less. Thank you for the guidance.

Hi Kimberly!

Thank you for your comment. I think the cap maxes out at 18% APR. I agree, it likely does not make sense to get more debt. We also don't mind living in a fixer. Everything is livable. We did the important fixes (roof, flooring, paint, repairs that needed to be done to keep the house secure). We go back and forth between the house & location vs a huge gain on sale if we sold after living there for 2+ years.