All Forum Posts by: Matt Kvalheim

Thanks Steve, I appreciate your response!

Hi,

I’m having a tax discussion with my accountant, and I just want to double check that he’s got it right, so I thought I would reach out to the BP community!

If I own 3 SFHs as rentals and two of them produce profits that need to be reported for tax purposes (basically, rental income collected is higher than all expenses and depreciation) and the 3rd property has losses to report, can the losses on the 3rd property be used to offset the income of the other 2 properties?

What about accumulated losses from prior years? Can accumulated losses from a property be used to offset income from a different property?

Thanks so much!

Thanks everyone, that answered my question too.

@Levi K. I have exactly the same question, but have not been able to find an answer by searching the forums yet. Did you ever find out if 1031 ex funds can be used for renovating the replacement property?

I had a great time at the last OC meetup! Looking forward to this one too!

I will be there!

Hey Chris! Welcome! Hope to see you at the meetup!

Hey Ryan, welcome!

I'm in Tustin, so probably not too far from you. I just got started on BP too and I'm going to try to make the meetup in Lake Forest next week. Hope to see you there!

The numbers don't add up for me either.

I agree with @justin case - something is obviously wrong with the numbers.

Also, in your analysis, don't forget to include vacancy, mgmt fees (if you're not doing it yourself) and a reserve for repairs. You should include these costs in your Cap Rate calc - don't take their pro forma stuff.

Thanks for the advice @John Malahay and @Walt Payne