All Forum Posts by: Matt Carozza

 Great info, thanks! Maybe the best thing for me to do is to go to a couple of the Chesterfield meetings and a couple Richmond meetings and see how they go.

I'm really interested in what you said about shooting for a target rent level of $800/month. Would you mind expanding on how the percentage rules break down and how actual performance would differ from an analysis? Is this in part due to increased vacancy expenses? I'd love to hear more on this. 

Awesome, thanks so much! I'll definitely keep in touch and let you know when I'm ready to invest out there. 

@Nathan Gesner thanks for the reply! I have messaged some people using the Network feature and it's been a great resource, thanks. I'm just hoping to figure out which REIA is more active or might be a better value, as I'm looking to become a member and just trying to decide on which one to choose.

Also, envious that you're up in Wyoming. My goal is to someday have the opportunity to live in Lander.

I am a new investor looking to use the next year or two to network and build a great team in Central Virginia. I saw there's a Richmond REIA and a Chesterfield REIA. I'm wondering if anyone has experience with either or both and if you could offer a recommendation on which may be of more value?

I am focusing on buying a residential multi-family as my first deal (preferably a tri or quad) in Richmond, so I may be answering my own question having said that, but I also see Chesterfield as a great area for investment and would like to invest there as I build my portfolio.

Also, if there are any other good REIAs in the area, please feel free to share. Thanks!

@Natalie Kolodij, my apologies, Monday morning got the best of me. I sold it this August, not 2018.

I moved to Australia on a Working Holiday visa to work and travel. I'm not sure if that would qualify. 

And really? I'd love to chat more then. I'll send you a message when I get off work today if that's alright. 

Thank you all for your replies and wealth of information @Josh Dixon, @Dave Foster, @Mark Creason, @Natalie Kolodij and everyone else. 

@Natalie, I bought it in October 2015 and lived there until June 2017, at which point I moved abroad for some time. I rented it from July 2017 until July 2018 and sold it in August 2018. I bought it for $119k and sold it for $159k, if that's useful information. 

After reading all of this information, I will definitely be reaching out to a tax pro in the area. If anyone has any recommendations for someone in the Richmond/Central Virginia area, I'd really appreciate it.

I bought a condo in 2015 and lived in it for less than two years and then rented it out for a couple years. This was all before I found BP and knew anything about real estate investing. Once I joined the community and started looking into RE investing, I realized I had to sell it because it wasn't cash flowing and I was actually losing money. However, it did appreciate and I made some money on the deal. I didn't put it into a 1031 right away, and I don't know if I can still can (I sold it about 6 months ago), and I'm worried I'll be taxed for capital gains on it. However, I make less than $37k a year and from the research I've done, I fall into the 0% capital gains bracket because of that. 

Can anyone tell me if I am correct or is it more nuanced than that? I've thought about reaching out to a CPA, but if it's as simple as the research I've done makes it out to be, I don't want to waste the money. 

Thanks in advance for any advice!