All Forum Posts by: Mike M.

I am looking for a CPA or tax professional who is familiar with real estate tax laws including changes since the Tax Cuts & Jobs Act of 2017. My current tax preparer is not well versed in changes since 2017. I am looking for someone who is familiar with using 100% bonus depreciation and de minimis safe harbor.

Thank you in advance,

Mike

I'm looking at two multi-families in areas of Cleveland that I'm less familiar with. I've done my research, but I'd like a second opinion on if I should stay away from these areas for reasons of crime, poor quality tenants or anything else.

1. Shaker Heights (Buckey-Shaker) - South of Shaker Square on South Moreland Blvd. 
2. Garfield Heights - North of Cleveland Clinic and the Garfield Park Reservation on East 104th st. 

I mostly agree with @Matt Rutter  

For SFH have the renter pay water/sewer, otherwise assume 100/mo for a 2bd unit in a duplex.

Insurance will be in the 40-50/mo range for a 85-120k house for 500k liability. 

@Michael Kiley Nice looking house. I sent you a PM asking for more details.

@Michael Kiley What street in Old Brooklyn did you purchase your house on?

@James Wise I own a number of SFH in the 100-120th block so I can relate to how savage D-class investing is. More power to you if Clark Fulton gentrifies because you will certainly have earned the profits! My original question was about Old Brooklyn though. I thought that's what your original comment in this thread was related to - if Old Brooklyn was going to gentrify.

@James Wise Not sure I follow - where did Clark Fulton come into this? Sure anything is possible, but I don't see that place gentrifying anytime soon. 

@Noam Ofan Congrats! Where did you invest? 

@James Wise Would you mind elaborating on your hypothesis that Ohio City gentrification would spill over into Old Brooklyn? What does it have going for it?

@Gino Karim PM sent