All Forum Posts by: Nick Lawler

Hello! I am relocating to Charleston, SC in June and am in need of a great agent and contacts. I have been doing an owner occupied rental in New Hampshire for the last 2 years in a SFH and am looking to buy a multi-unit property, living in one and renting out the others. Mahalo!

@Aaron Zimmerman

Thank you for the insight!

I am currently house hacking and renting out a couple bedrooms to some Navy friends but do not have them under a rental lease, however, I collect rent on a monthly basis. I am not sure of how this will affect my taxes for next year and am in need of some help or direction to a good tax advisor. Am I still required to document this on my taxes as passive income or would I have to have proof via a lease agreement to do this? If I don't record this passive income, the money is tax free since it is under the table, but am I able to take advantage of depreciation and other deductions of a rental property? Am I able to call it a rental property since I am owner occupying? If anybody has experience or knows of a good tax advisor to recommend in the Portsmouth, NH area or surrounding area down to Boston, I would like to hear your thoughts!

@Nicole Heasley Very little. I bought it a few months back a couple thousand below the appraised value of the house. I have been updating since I move in and will continue until I change duty stations. I am renting out the 2 extra bedrooms for $1400/month which allows me to fund updates here. I don't know how much equity will be added by the time I move in the end of next year, but I intend on continuing to rent it out after I leave.

I would house hack, however, I am active duty Navy and can't move unless directed by a PCS orders. Otherwise, I would go that route.

Hello fellow pocketers! I am looking to invest out of state in my hometown of Columbus, OH and have found a fourplex that meets my criteria for location, unit size, property features, etc. However, I am trying to figure out how to make the financing for the property work without spending every last dime of my bank account as I already own a home which I use as a house hack and could use reserve cash for unexpected problems. Any helpful experiences or guidance on how to make the investment work would be awesome and appreciated!

I am curious as to how strong the rental market is in Columbus and Cleveland. I grew up in Columbus and have family in Cleveland so I am familiar with both areas and have considered investing in either city. I am currently serving and live in NH where I house hack, however, across the board for type of property it is considerably more expensive in purchase price than it is in Ohio. If anybody has experience in either city or advice on out of state investing in their hometown and could share their thoughts I would enjoy gaining insight!

@Jeremy Werth

Preferably anywhere within a 30-40 minute drive of the shipyard. I know plenty of guys that rent out in Dover, Wells, Berwick, South Berwick, Rochester, Portsmouth, and any of the surrounding towns of the shipyard. I would like a single family, duplex, or apartment building preferably. I plan to owner occupy with roommates while I am there and then rent after I have moved. 

@Jon Lallande

Thanks again! Once the time comes for me to go out to San Diego I'll probably reach out for some help again

@Jon Lallande

Thank you for the help and advice! I wasn't sure if other banks would offer a better rate than the VA loan, which I have already gotten pre-approved. Did you rent out your property only to service members and their family? Do you have any recommendations for property managers? I am in Portsmouth, NH now, and will be moving to San Diego eventually looking to do the same process.