All Forum Posts by: Mason Weiss

 I would be careful with your verbiage here as it is a public forum. 

There is always closing costs on refinances. If the lender is not charging any fees, it is likely built into the rate. Additionally you should be mindful of title, escrow, appraisal, impounds, taxes and prepaid interest. I don't think it is worthwhile to refinance from a 7.99% loan to a high 6% loan, unless you are getting some cash out to payoff high credit card debt or use the money to buy another rental. I would hold on tight until market conditions improve. 

Hello everyone,

I’m excited to join BiggerPockets as a new investor and realtor based in Phoenix, Arizona. Currently, I own two single-family homes:

1. My primary residence, purchased in 2018 for $550K, is now valued at approximately $900K.

2. A recently renovated property bought in 2023 for $440K with 25% down is managed by a friend’s company. They rent out individual rooms, enabling us to charge slightly above market rates. Despite higher maintenance costs and elevated interest rates, the property generates enough income to cover the mortgage plus an extra $200 in positive cash flow.

Each year, my husband and I save between $80K and $200K for further investments, depending on his annual performance. I also recently obtained my Arizona real estate salesperson license to reduce transaction costs. While I'm actively seeking BRRRR opportunities in Phoenix, generating positive cash flow has proven challenging under current conditions, and price appreciation appears to have slowed.

In addition, I’m exploring investment opportunities out of state, though navigating unfamiliar markets is proving to be even more challenging. I welcome any suggestions, advice, or insights you might have regarding investments both locally and beyond. Thanks in advance for your input!

 Thanks, Mason. True Books looks exactly like the other RE-focused tax firms that are so prevalent here on BP. I reached out to a few before and what they all have in common is a drive to upsell their "strategy" and "planning" services... but there is no strategy involved when you are strictly W-2 + 100% Passive as I am. It's just a matter of entering in the right values in the right fields.

That's why I'm looking for local referrals -- my hope is that I can find some experienced someone that can just prepare my taxes with no goals beyond that.

(And I was hoping for notably less than the $2,000 - $6,500 range they specify. I may have a wrong "anchor point" for tax prep which maybe is why I keep getting CPAs that don't really know what they are doing... but I am still hoping for closer to $1,000)

Hello Everyone, 

To give an update I purchased my duplex in Peoria, AZ in Aug/Sep 2024. Currently House Hacking, as I got a tenant this month, and wanted to make sure I was doing all the necessary property/grounds maintenance required. I am looking for advice on what are some of the general property maintenance and grounds maintenance required for a property, in this region, throughout the year. Such as last fall I did the yard work, trimming branches on trees, cleaning up the leaves and removing some waste on the property. 

One thing I'm concerned about are pests, when should I get pest control to spray for them, what is in the general area. Is there any stories you may want to share which I should pay attention to, etc.

Hey all, I have been an investor for about 7 years now but I have multiple eggs in different baskets so it's not full-time. I have one investment property that has equity of 200K under mortgage that stays books as a mid-term rental out of state. I have a primary residence that has 200K+ equity under mortgage that has a HELOC account open but not used. I have the goal to buy one or two more investment properties to hold as mid-term rentals over the next two years. I spoke with a lender today to do a cash out refi on my investment property and with rates as they are currently I knew it was going to be high... either way what goes up must come down so rates will drop and I can refinance. My question is from a financial perspective- should I cash out refi my investment property first and leave my primary with the HELOC option or cash out refi my personal residence and leave the other... or do both? Any insight would be helpful.