All Forum Posts by: Matthew Hartzel

@Christopher Smith My sister has all the paperwork so I'll be meeting with her to read through it all tomorrow. I'll update this post once I have some information to work off of. 

That was my assumption as well, assuming the depreciation isn't being allocated to the trust. I'll have to speak to our CPA. 

Typed this up on my phone.. Title should read Depreciation*** I am a 42.5% beneficiary of a trust in which a rental property is currently being held. I would like to be able to write off the depreciation expense from my personal income. Is this possible?

Antoine Martel I agree, that's what it really comes down to. It'll just take some time to get her on board. Confident it will happen eventually though. Michael Johnson that's a good idea. Not sure why I haven't thought of looking into on campus real estate clubs myself

Hey everyone. I'm currently studying Econ at UCLA, but will be graduating in about a year. I wanted to reach out to the BP community and see what some of you did while in college (or just simply prior to investing) that helped get you prepared for your plunge into real estate. I'm thinking something more hands on than just reading book after book and browsing the forums. I'm not looking for a substitute to reading/researching (I love reading real estate related books), but something to supplement it, like a part-time job or something similar. I'm really enjoying the learning process, but at the same time I feel unsatiated by the fact that I'm not able to apply anything I've learned since I'm not currently able to begin investing.  Does anyone have any suggestions?

On a side note, I did inherit a property that my sisters and I are renting out. I was younger and not interested in real estate when I inherited the property, so my older sister handled everything. She hired the PM company, and has basically been hands off with the property since. She doesn't know the details or numbers behind the whole situation and has been difficult to get information from, so I've been pretty much left in the dark regarding that property. I'm doing my best to get involved with this property, but it's been a very slow and difficult process. Being that my sister is ten years older than me, she's got the older sibling complex engraved within her and has been reluctant to let me get too involved. Does anyone have any suggestions as to how I can start making small steps to work my way into a decision making position?

@Bryan Pham Thanks, man. I agree. Would love to start talking with people actively investing out here...specifically any successful house hacking stories in the area.

@Gilian Gegawin Exactly! I can't imagine how up and coming real estate investors even managed before BP lol.  

Thanks Dave, I definitely will.

Hey everyone, I'm looking to use BP as a great resource to both learn and network as much as possible, so I figured I'd start off with an introduction post!

I'm 23 years old and will be graduating from UCLA with a degree in Economics in 2018. I was introduced to Bigger Pockets by a co-worker of mine a few months ago, and since then have been listening to the podcasts non-stop. After reading Kiyosaki's book, I became extremely interested in real estate. I've now read a couple real estate books (currently reading Anson Young's Finding and Funding Great Deals), and have begun to develop a solid foundation of real estate knowledge.  My main goal right now is to absorb as much information as I can while I'm still in school so that post-graduation I will be in a solid position to begin investing. I plan to break into real estate by house hacking and then going on to build out a strong B&H portfolio. 

I am currently a 42.5% owner of a 3 bed 3 bath home in Santa Clarita, California (Inherited this property). I inherited this property a few years back and at the time was focused on everything else in the world but real estate. Because of this, my sister took charge and got a PM to step in. Now that I know real estate investing is something I'm going to pursue, I'd like to use this property as a foot in the door to REI.

If anyone has any tips or advice for me, I'd love to hear it! Thanks.

Hey Vanessa, thanks for the response! So regarding the 3+3, my info is very limited. When my mom passed, the house went into a trust. My uncle was the executor, however he passed and my sister became the executor. At the time, I wasn't interested in real estate (nor mature enough to gain interest in it) so my sister dealt with everything regarding the house. Fast forward about 3 years, and studying/learning anything real estate related has become a passion. Unfortunately my sister doesn't have much info regarding the financial aspects of the house. She has agreed to meet with me in the next couple weeks so I can help her sort through everything and figure out all the numbers, so I should know more soon.

So to answer your question...I think we are cashflowing, but very minimally. Sorry for the life story, but I wanted to explain why my answer to your question is so vague. Once I get all the numbers I'll have a better answer.

I've actually been strongly considering focusing on out of state investing and would love to pick your brain. A buddy of mine actually just bought his first out of state property out in Waco. Have you decided whether to go with an LLC or umbrella policy? I know California is tricky when it comes to LLC's and out of state investment properties.

Hey everyone, I'm 23 years old and looking to get into real estate investing as soon as possible. I'm currently studying Economics at UCLA, and will be graduating in 2018. I would like to be in a position to begin REI at most a year after graduation (after graduating I plan to have a solid W-2 job which will help with financing). I have a small amount of savings (about 10k) which I'm currently working on building up. Ideally, I would like to begin house hacking because paying my current 1700 a month in rent is really hurting my ability to save and focus on building wealth. I know California's market isn't the easiest to house hack in, but if anyone has had any success or has any advice I'd love to hear it. I will most likely be working in the LA area upon graduation, so I'm hoping to find a place that is within commuting distance.

On a side note, I inherited 42.5% of a single family 3 bed 3 bath home in Santa Clarita that my sister and I are currently renting out. Just thought I'd throw this in here and see if anyone had any general advice!

Thanks in advance!