All Forum Posts by: Nick N.

Looking to Refi a few of my properties right now, and CBRE came up. How did your loan go? 

@Elizabeth Saienni

Yes, I actually did end up doing this. I got a new accountant who knows a lot about real estate tax implications.

He suggested we do it before I had a chance to ask him about it.

So far so good...

Reviving a dead thread here ....

My wife stays at home with the kids and does all the property management for our properties. Both of the buildings were bought in the last 5 months so we have a good amount of losses associated with the major repairs that they both required. These "losses" add up in excess of 25k but my AGI from my W2 income is above the 150k cutoff level.

Would she be able to qualify as a RE professional since all her professional time is spent managing these buildings? This way we could still write off the 25k since my income is above the cut off.

And does the 150k AGI level apply to married couples filing jointly?

 I hear ya, but i might still do it. 

Ill only be out 150 bucks and i'll know what I am dealing with so i can make an knowledgeable offer with some quotes to justify a lower offer.

I have allready walked through it once, his would not be my first place i bought. 

Its just the few mold/water damage spots that are concerning.

Thats why im going to do a "Walk through Inspection" with an inspector that is certified in mold/ air quality. Basically it a full inspection done for $150 with out a report so I can get a good feel for the damage.

Im looking at a duplex that has been on the Market for well over a year. The roof is completely shot with tarps over it to prevent more water from coming in.

There are big water spots and appears to be mold on some parts on the interiors drywall, but only in a few spots.

Needs decks, a roof, new floors, some pavement and paint but besides that its in decent shape and only around 20 years old

The listing agent has agreed to let me do a walk through inspection and get some mold test done and get a good look at the attic to see the extent of the water damage.

am i crazy to do this before I make an offer? It doesn't appear like anyone is making a offer anytime soon and i want to know the extent of the damage so i can judge me offer.

I think this would provide me with more leverage to get in at a lower price from the get go without have to negotiate after we are already under contract.

Any insight into this would be greatly appreciated!!!!

That's perfect. Just what I was looking for thanks Dave!! I'm planning on doing Airbnb with this unit so having the AC is a necessary  option in my mind. 

I'll just put a electric hot water heater in and I'll be good to go

The new Fujitsu XLTH Link operate down to -15f. The mitsubishi w/ hyper heat Link operate down to -13.

They loose some amount of efficiency at those extremes but should do the trick.

My other option would just be to go natural gas and skip the AC but i like the fact that these take up 0 floor space.

Im looking at adding these into a small two bedroom apartment. Do you guys do individual zones for each room? I was thinkin 1 mitsubishi w/ hyper heat for the cold Maine winters and 3 heads (living room, bedroom 1 and bedroom 2)

Are you using traditional electric hot water heaters with these?