All Forum Posts by: Maggie W.

@Bill B. The quotes I've gotten for tax service are always much more than $800...I have properties in several states and w-2 as well, maybe that's why. I paid HR Block extra for a 'tax pro' to look over my taxes for me and even she missed this. Thanks everyone for your suggestions, very helpful.

For some reason, the $4k in HOA fees I write off every year are not on the 2021 return, as I'm reviewing them and doing 2022. It appears to signify $800 additional taxes out of my pocket for 2021. So which is a bigger red flag: filing 2022 with a big discrepancy between the two years' expenses or amending a prior years' taxes?

Thanks Jaysen!

The escrow attorney, chosen by the buyer, asks for the cost basis in properties I'm selling, basically how much I've invested in them. I've never heard this question before from an Escrow lawyer and I'm wondering: what if I refuse to answer? My price is my price, and the lawyer shouldn't care what the price is or what I've invested in the improvements.

I lived four months in Albany and invest mostly in Georgia but I will never, ever own or live below the 'Gnat Line' again. I found it unbearable and unless a huge industry relocates to Albany I can't see tenants going there either. Central GA offers just as much but you don't have to wear a space helmet all summer to keep the bugs out of your eyes and ears. If you haven't been there in the summer just ask a local.

Please weigh in real quick if you have any experience with this ! Thanks community

Hi Connor, my initial glance, not knowing your situation, shows me your estimate for vacancy is super ambitious, 3%. Many people recommend 10-20% but I cut it close by estimating I may wait a month or two to get a desirable tenant and put 10% or maybe 5% in a very hot neighborhood. 

Also, even after re-fi your cash flow is $62...? And you are renting the 3BR for less than the 2BR? Maybe this is a special case, like family members living in the 3 BR for a reduced rate in which case it makes sense. Those are a few things you might double check. Good luck with it!

@Jennifer Pauyo Gosh, you pulled us all out of the woodwork! Greetings from WI and Middle GA.

@Valerie Shirah I was just about to post this myself. Did you get any advice about such books?

@Samantha Chang as a general rule, property near the coast in California is an asset which I would only sell if I were losing money or in exchange for another piece of California Gold.