All Forum Posts by: Kyle Guida

I'm sure you're getting some solid mortgage principal pay down each month too! Although the cash doesn't go into your pocket it is equity builder! Keep it up! 

To my understanding and what my cpa did for me . They occupy a certain percent of the household. So you would get that percent in benefits. Depreciation, taxes, interest is anyways, utilities , repairs 

@Al Wilson where did you buy yours??? 

I'm thinking about buying one and everyone has bad things to say . I happen to know someone who has several million invested in condotel and that's all he invests in and makes a killing . He only invests in 2 specific spots so not sure if he's done his research or what .

I don't mean write off them but more less claim them as renters. So I can get 75 percent of depreciation, utilities, siding repair, other expenses . The only thing I wouldn't be able to count would be me 

Is there a specific percent you can write off and still be considered owner occupant ??

I have a 3 bed 1.5 ba house 2 car detached garage . I own a landscaping business also . My tax plan (all of which is true) was to write off 2 roommates . One is a buddy one is my go so we share a room . I have an office my business rents and my garage my business rents . Can u legally occupy 25 percent (1/4) of the house and still be considered owner oc. I'm looking to get 75% of all expenses written off and claim their income . 

got any tips for me . I have 2 properties and now my DTI won't let get a loan on another . I am not "seasoned" landlord yet so that income doesn't count yet.

I'm self employed so much tax returns show lower then a normal person be ause my deductions and write offs . So I'm in a pickle . I always put down 20 percent or more . I have reserves for both properties as well 

don't forget to save for capex. Like was mentioned hvac, roofs, vacancy , eviction , tenant turnover are all things you need to consider. Also a 100 year old house is likely to need more repairs more often then a 20 year old house .  Same goes for sfr vs condo

Personally I rather have a lot more in my "oh ****" fund aka my reserves .  I shoot for 6-12 months. I also don't rely on my real estate money as I'm still working full time so sometimes if my reserves get too high I might apply to principle 

not that they are very accurate but zillows estimate has it worth 80 k if that matters what so ever

1 bed 1 bath condo in good area. Asking 67 k (approx 1k sq ft). Comps are 63k and 65k and rental comps are 950. I was thinking about offering 55k cash and then working up to 63k. Taxes=1493, hoa=213. Worth getting into ??

can u help explain how you get 100 a month cash flow?