All Forum Posts by: Leslie Jerue

Thank you Mark!  I will definitely do that.  ^-^

Hello All,

I'm still learning the 4plex game but recently purchased a 4plex in Alaska back in March 2016 and moved into my unit in May 2016.  There were already existing tenants and I had to give one the boot to move into the unit.  Currently, I am paying rent like I always have but am curious if my "rent" counts towards the property income. If not, will it hurt me during taxes if I don't pay a month or two of my portion of the rent? For instance, I used part of my 401k for the down payment and it would be nice if I could use a portion of my "rent" to pay down my 401k loan quicker without it hurting me at tax time. 

Since I've not had to do taxes on it yet I'm not really sure how this all works.  When I've tried to research I'm not finding a lot of information. I will probably have a few more questions about how to prepare for tax time and the like so I apologize in advance.  I am also not sure if this is the correct forum. 

Thank you for any and all assistance and information.  If there are pages that would possibly answer these or future questions I'd be happy to read those before I post any further questions.

Leslie J

Hello All,

I just joined the wonderful world of being a multi-family property owner. In a time where work is never a sure thing I couldn't justify buying a single family home. If I had, and I was laid off I'd have a very difficult time paying for the mortgage. The next best thing? Purchasing a 4-plex and living in one of the units. If something were to happen with my work I know that I could continue to provide a safe place for my child and I to live. I did use an FHA loan which does require owner occupied in one of the units. I found a nice little place with a few quirks but that still generates an "income." I have a lot to learn and Winter is coming with expected above average snowfall so I'll be learning all about snow plowing. :D I'm excited for what this new adventure will bring. I'm even excited for the bumps in the road and the horrible tenants as it's all a learning experience.