All Forum Posts by: Kathlyn Lewis

Hello Bigger Pockets community!

We are selling a duplex in Boise and are hoping to get some help determining what a fair cap rate would be.  Neighborhood is West Downtown/North End adjacent.  From what we've been able to determine, cap rates seem to be all over the place in this market right now.

Thanks much! 

Kathlyn Lewis

Thanks again Natalie!  I am hoping this is my last question...:)

Is the accountant signing the return responsible for having the written capitalization policy in place and/or accepting it?  For example, if my accountant accepts my bookkeeping for my return with expenses of $2500 or less listed as expenses, is it his or her responsibility to verify and "sign off" as it were with the IRS that we have a written capitalization policy?

Thanks for letting me impose on your time and knowledge!

Thanks for the quick reply - very much appreciated!  Is the written policy something that must be done by an accountant?

I agree that the fee is ridiculous.  She charged us a ludicrous fee for a letter for a bank loan earlier this year.  Thus the reason she is "the accountant we used last year" and not "the accountant we will be using this year." :)

Thanks again for your help!

Kathlyn

Hey Smart People!

Our accountant from last year sent me an email a few days ago saying that there were changes to the capitalization regulations for real estate and that in order to take advantage of the new $2500 cap on deductible expenses, we would need to have a written capitalization policy in place before 12/31/16, which she could provide for $100.  Does any tax-savvy investor and/or CPA out there know if it's true that we need this written policy at all and/or by this looming deadline?

Thanks in advance for your advice and guidance!

Kathlyn Lewis

Thanks for the quick reply!  Any suggestions on where to find a good basic agreement for a PM?  Want to compare something solid with what we have.  Thanks again!

Hello knowledgeable people!

My husband and own a few rental properties and are just hiring a property manager for the first time.  Should there be language in our lease that includes the property manager, explaining their responsibilities and contact with tenants, etc?  Having a hard time finding info on this!

Thanks for your expertise!

Kathlyn Lewis

Just saw a billboard for a commercial lender called Plum Lending out of SF, CA.  Never heard of them before and wondered if anyone has had any experience.  Did a search here and didn't find anything.

Cheers!

Kathlyn

Hello!

Looking for a bank that will do a construction loan for a property in Los Angeles, CA. This is an SFR and we are looking to finance as a second home.

Thanks in advance for your help!

Kathlyn Lewis

I've asked several people this question privately and gotten several different answers (no surprise), so I thought I'd pose this question more publicly here:

The sellers market seems perched to turn with housing supply about meeting or maybe even surpassing demand.  Do you think this is happening in Los Angeles?  If it is happening - the magic question - when do you think the price fall will happen?

Can't wait to see everyone's response - thanks in advance for your input!

Thanks for your replies!  We will definitely email them today (to cover all bases) and then also give a call or hand-deliver if they don't respond.  We mostly just want to make sure we fall into our 30 day window.  Thanks again!