All Forum Posts by: Michael Medeiros

What town?  I invest heavily in RI and would highly recommend engaging with a quality attorney that knows the local ordinances.  RI is a tenant friendly state but most of that can be mitigated if an attorney writes/ manages your lease, sends notices, etc...   Good luck. 

Hi Ian, 

I also live in Boston and run smaller reno projects around Newport county.  If interested hit me up directly and I'll share my plumber and a couple GC references.  Thanks.  

I have deferred passive losses on multiple rental properties that have accumulated over the last several years (let’s say around $50K). I recently sold one of these rental properties with a net capital gain of $120,000.

I have been getting conflicting answers as to whether I can offset this sale with the cumulative passive losses of the other properties. First off, I believe that I can offset the individual loss from the property sold.... (1) is this assumption true? About $40K of that deferred passive loss is from the property that I sold, (2) would the other losses also help to offset my $120K gain? (3) How far back can I go with all these deferred passive losses?

A bit complex but figured I would put it out to the community... thanks! 

Hi Antonio, what town is it in?  Shoot me the details and I'll take a look, thanks. 

Hi Alex, 

First off, I agree with Anthony, it's unlikely the appraisal will calculate comps by BR... they will most likely look at it by unit & # of BR's, location, etc...  I also find they will only count 75% of rents but I guess that can vary... It's also difficult to identify comps without knowing the property, condition, location, etc..  

Rentometer is a good source of comps and there are plenty of local realtors, you can also scan craigslist & zillow to see what other rentals are going for in the area.  

A couple questions, 

1.  I assume this is for investment and  you will not live there??  that will change things up for sure. 

2.  You say it's a unique opportunity, what is unique/ different about this property?  Is it for college housing?  There is a need for college rentals in the right location.. just an FYI... 

Ron- what's the name of your REI group?

Sounds interesting, I invest in MA and RI so would love to see how this turns out.  

Hi Charles, 

I'm a local investor, shoot me the info and I'll run the #'s..   Email:  mjmpropertygroup@gmail

Thanks guys! 

Thanks Brian... my accountant is a bit behind the times so i'm actually in the process of looking for someone new.  If anyone has a recommendation for a CPA who's focused on real estate and understands the self direct space I would love the referral.  Thanks!  

Also, preference would be that they are located in either MA or RI