All Forum Posts by: Marichelle Lao

Hi @Benjie DeVera Thanks for the heads up! How funny that you mentioned them. I know someone (friend of a friend of a friend, hahaha) that works there and I was in fact looking them up today! I also live in Glendale and know exactly where it is. I'll have to check out their meetups. Thanks again.

Hi @Ned Carey, she is not a CPA and for the most part she is knowledgeable in real estate taxation. Since I did not work last year, but i just had my 2 rental properties I filed 2 schedule Es. I did listen to the podcast about the tax book for savvy real estate investors today, and i feel my tax preparer covered  most of the bases. Thanks for the link. 

we just filed our taxes and i have been going to her since i started working as a registered nurse, she helped in advising me with deductions that i was able to take, but as i have planned to purchase more rental properties, i feel that she might be inadequate in helping me move forward. i was looking for someone who could possible advise me on what steps i can take to advance my REI plans. Im not expecting her to tell me what or where to buy, but someone who can give me tips on what would be more beneficial for my growing portfolio. When we were done with our taxes and i asked her how we could get a better return next year, she told me "hide your money in your 401K" that may be true but it made me realize her perspective, which was unfamiliar with REI. I feel very comfortable with her since I have been going to her for many years, but i feel like there is more out there. Im in the los angeles area and i was also wondering if it would be beneficial to stick with her because she is familiar with my situation? thanks for reading.

thanks for the heads up @Charles Moore. I have been looking into them and reading their blogposts. I've also noticed their activity on the forums. Take the plunge! You'll never know unless you try! Good luck!

hello @Ali Boone my rentals are in Chattanooga, TN. They both have a small amount of cash flow.  The Marshall Reddick properties were turnkey and they also have a positive cash flow. We are looking into Memphis though. Any advice or insight? By the way I love Venice Beach! 

Hello @Steven Gesisthanks for the welcome. We recently purchased in Toledo through the Marahall network. 

Thank you @Isaac Blocher it truly is but one of the most rewarding for sure, I'm sure your wife feels the same way.  Greetings from local Glendale! Hello @Adam Bontrager nice to meet you and thanks for the welcome.

@Timothy Murphy III I purchased TN properties after I had met some ladies from my RE mogul classes and they introduced me to a company called Faith Holdings. I attended an information presentation and purchased the properties. Everything was done via mail and some documents were faxed. They basically mailed me the documents and I went to a notary and signed the documents and sent them out the same day. The next day I was an owner of a rental property. With MRREN we did everything online.  So much easier and a turnkey investment. The tax breaks are what I've learned on the webinars I've been watching here on BP.com. (Depreciation, mortgage interest, RE taxes, etc) talk with your tax preparer of course because I am no expert. Feel free to private message me with any other questions, but I think the forums and the blogs on this site are much more knowledgeable. I'm learning something new every time I'm on the site. I know out of state investing isn't ideal but my tax preparer told me after I started working, " you need to have a baby, buy a house, or open a business otherwise Uncle Sam will take your money" real estate investing was the way to go!

@Ethan Vegastotally! We are learning together! @Claudia FernandezI invested in TN back in 2008 because it was turnkey and I wanted to take action and get that tax break. I had already paid the 28k for the RE mogul classes so I didn't want to not have something to show for it. And we just purchased in Ohio also for the tax breaks. We are not familiar with the areas but I have been out to TN and even though my properties are underwater, there is still a positive cash flow. OH was just purchased  last year. Lesson learned and both were purchased before discovering bigger pockets. 

hi @David Faulkner we are in the northwest area of Glendale off Pacific, but we used to live on Wilson and Sinclair before we had our babies. Glendale is a great area we are walking distance to the malls and the Rossmoyne area. Good luck with ur sale, I'm sure it will sell fast!

I purchased my rental 8 years ago and I've been continually receiving refinance offers from my mortgage company. My rentals are less than what i paid for them but they are being paid by the tenants with a cashflow of about $50/month. My questions are 1) is it worth it to refinance for a lower interest rate 2)will i be able to refinance if i don't have a w-2 job 3) should i just leave well enough alone  its tempting to refinance if i know that there are more benefits and if i know that my credit won't take a hit. I'm not sure if I'm asking the right questions but maybe someone can add some insight and lead me in the right direction to find out more information. Thanks.