All Forum Posts by: Kyle Quaranta

Hey Josh - recognized the name from back in school. I think the path of renting out additional rooms to roommates would be a good option. Also, if you bought something that needed a bit of work, you could use their rent to fund updates over a year or two to help increase value. I bought early and had a roommate paying almost the full mortgage for 2+ years and it was one of the best decisions I’ve made so far. Let me know if you want to discuss more or need any help.

Where in Baltimore are the properties located?

Welcome Jake. Do you have any idea how you would like to get started as far as type of property/area?

@Jon K. I would be interested. Just sent you a DM. Thanks

At closing, you should have had the opportunity to list your address as your true home/mailing address on the paperwork

Definitely get financing sorted out beforehand because you’ll need to be ready to act fast once you find a property.

Sorry, I have not had any experience going through that process

Ken - as far as I know, you would have to get it authorized as a rooming or boarding house to avoid that limitation.

I'm wondering if anyone has any experience buying with a partner, but only putting one name on the loan? I'm mostly thinking of the tax impact of such a move and how income/expenses would be reported. Any advice would be greatly appreciated. Thanks.

Amelia - You would want to discuss with either/both a CPA and attorney who deal with estate planning. I'm a CPA, but focus primarily in hedge funds, so not my niche. However, I can say that the amount she can gift you is limited to 14k per year. Anything over that amount is subject to a gift tax, which is normally paid by the person giving the gift (her).