All Forum Posts by: Lena B.

I think you need to provide more information.  You were in a tough spot and were laid off.  Are you still not working?  I'm not sure about Canada but in the US with the "great resignation" people are writing their own tickets.  More pay, work from home and retention bonuses.  I think if you are both working, now that you have locked in a great rate and the $900 negative cashflow is not hurting you- keep it.  Your other goals should be working as well, saving your emergency fund, investing in retirement accounts.  If you're able to do that, take one more year.  Increase the rent at the tenants lease renewal and take this as a lesson.  Once enough time has gone by you will either break even or be able to sell without taking such a hit.  Also, if Canada housing for sale supply is anything like ours, you can sell by owner and hire an attorney to do the paperwork.  You will be a lot more hands on in the process, might be a great education while saving on commission.  

Hi! I'm Lena from beautiful Whidbey Island, Washington State. My husband and I have (all over the South) 3 SFH,1 4plex and we house hack our primary home located in Washington state. We are on year 5 of this journey and finally "feeling" the benefit from monthly cashflow. My question is, on the 4plex, located in Mississippi. The building is literally split by two lots, why, I don't know but it is. I know no one that can help me figure out if combining the two lots will help reduce my property taxes. Is there a professional I can consult with on this? The answer I get after 3 phone calls to the city zoning and development office is that it might reduce my taxes and follow the directions on the paperwork, pay your fee and find out. Help!

We have rentals in 4 different states and my reason for wanting them separate is more to separate them from liability than for tax purposes. 

Hello all! We have about 5 properties now and I think it's time to get them in separate LLC's. We might as well as lending is now requiring 25% from us anyway. Problem is...it's so hard to find good help! My last CPA has retired and the others at that office are not real estate investors. Does anyone have any recommendations for Real Estate savvy CPAs/accountant in Washington State? Also how about a Real Estate lawyer? Thanks everybody! Happy investing!

Thank you Jennifer! I will check them out.

Thanks!

Hi all! My husband and I are newer to REI we currently have 2 properties and we are buying our first 4 plex. The 4 plex is on the beautiful Gulf coast of Mississippi and I have quickly found out how expensive it is to be in the "wind pool". I do have an insurance broker working on different combinations of insurance. I've tried commercial policies, residential policies and USAA policy with wind provided by MWUA. Insurance barn, who contracts with USAA, quoted us $7,000 for wind alone! We are already assuming the flood insurance from seller. Is there anything I'm not considering that could save me money on insurance?

Best writing I’ve seen in a while. You are great! I’m learning so much too.