All Forum Posts by: Mayur Chaudhari

Hi All, 

I am renter in Charlotte and have a ton of equity in our first home in Hawaii (now a rental). Looking to do a BRRRR on a new primary residence in Charlotte but wanted to seek advice on whether I should use HELOC/HOME-EQUITY LOAN against our Hawaii house to pay for down payment and renovation costs. Not sure about drawbacks of doing this... anyone have any advice or experience in the matter?

Trying to get our real-estate portfolio growing and tired of renting!

Does anyone have suggestions for a CPA that specializes in real-estate investments and multi-year tax planning. I have a complicated W2 job that requires filing in multiple states as well as investment properties in Hawaii and Arizona. Looking to buy more property in North Carolina but want some better advice on how to maximize our tax-returns with real estate as well offset some of the issues we run into with my complicated W2. 

They don't have to necessarily be based out of Charlotte but must be well versed in tax laws in NC, HI and AZ at the very least. All and any suggestions are welcome!!! Thank you!

Thanks you all for the advice! I will look into the insurance change-up. Seems like raising the rent will be unavoidable! Property-Tax is killing us since we are no longer residents and cannot file exempt.

We have a Townhouse on Oahu that was originally a primary residence which we turned into a rental back in 2018. We were breaking even at first bhtbhave steadily developed a negative cash flow! The Value has gone up, property tax has gone up and we are no longer exempt because we are not residents and our HOA has gone up also. I just raised the rent $500 on our current tenants and now HOA just went up another $300 last month!

I really don't want to raise rent again on our tenants at least for another year. Does anyone have any ideas on how I can get insurance or property tax down? Does anyone else have experience with a Hawaii home?