All Forum Posts by: Chris Latham

Hi Jamie,

I admire your diligence and attention to detail.  

My wife and I are Real Estate Agents and Investors. Our Broker will allow us to sell 3 of our Rentals and keep 100% of our commission. My wife needs more years of work income to qualify for max Social Security when she retires. Should we take a high commission for her and pay more in Income Tax or should we take a smaller commission and thus pay more in Capital Gains on the sale of our Rentals?  She will be the listing agent on all 3 of our houses.  

Thank you Linda.  This is very helpful.  I have sent a message to each of them.

Our CPA Tax guy in Covina, California is reasonable and specializes in Real Estate.  But he has not been able to prepare my Tax Return for 2017.  Now, it's September and I really need to get it done because Covered California needs the California Return right away.  

Do you have any suggestions for a CPA Tax Return provider in the Southern California Inland Empire or Pomona area that specializes in Real Estate investors.  Specifically: Corona, Eastvale, Chino, Chino Hills, Norco, Jurupa, Pomona, Ontario, Covina, Brea, Diamond Bar, Mira Loma, Riverside, Cucamonga, Montclair, Claremont, Fontana, La Verne, or Upland?  Or, possibly from another state that can do it remotely?  

I have 7 SFR's and I use QuickBooks.

We have 4 SFR rentals in DHS and we are absolutely thrilled with the new Cannabis businesses. A positive influx of tax dollars for DHS is very needed things. We have been investing in DHS for about 6 years and we see the views and the great open spaces and we wonder why it's not the next Palm Springs. Some areas of DHS have even better views than the Palm Springs area. Plus, Joshua Tree National Park is just over the hill and it's spectacular. Property values in Desert Hot Springs have been going up steadily and we are looking forward to even better things.

Hi, yes, we are very happy with Richard Furstenberg.  Cell: xxx-xxx-xxxx (BP won't let me post, so contact me or look up Richard Wolf Furstenberg via Google)

Last time I asked, he had helped people purchase more than 60 houses in DHS. We purchased 5 SFR's thru him in DHS and sold 1 with him. He is an expert in the area and he offers a substantial discount on his Realtor Fees. He is also the Broker. He knows the area so well and he is out there so often that he offers his buyers a discount on Property Management. We are deliriously happy with Richard. I told him that I am active on Bigger Pockets. Please tell him that I told you about him via Bigger Pockets. I've been trying to talk him into joining.

Welcome to BP Jon. Most of the BP podcasts on this subject recommend an LLC. However, do not let that hold you back or delaying the investment process. Getting all of your ducks in row first is not always the most important first step. Buy a rental property now and then find out how to put it into an LLC.

@Aaron Mazzrillo  You always have the best advice!  I can tell that you have a lot of experience.  My wife and I primarily invest in the California desert and we have seen some great appreciation and we are also seeing our cash flow go up as we have been able to raise rents.  However, as you indicated, it's a long drive.  @Steevee Reroma Always take the drive into consideration.  You may have to make a drive out somewhere during the week.  If you shop for houses on the weekend be prepared to double your drive time during the work week. 

@Jeff B. @James Park @Joe Bertolino

This is timely information again considering the recent elections.  Did you see that most of the California Propositions on the ballot were passed?  If more people looked at their property tax bills then they would not be so quick to vote for Propositions that make property taxes go up.  The way to get around prop 13?  Just vote in more taxes.