All Forum Posts by: Nina Ning

@Michael Plaks Thanks for the reply!  So do you think this is correct: Let's say in the scenario that AGI is $150k,  so it's useless even if the  rental losses is more than the rental income since you cannot use any of the losses to offset the W2 income.  If you spent like 20K for renovation, you cannot use it for tax deduction purpose but to add to the appreciation base?

But if you are real estate professional, you can offset unlimited passive losses.

To be a real estate professional, do you need to log in those required hours for only your own properties related activities or you can also account for other activities like market research?  The qualifications seem
quite vague to me.

Thanks

Nina

@Michael Plaks Just reading this old thread. If I am in the high tax brackets, I was assuming that accelerated depreciation would offset my income from my W2 thus will defer my income tax. Is this not correct? I'm confused. Could you shine some light on this? I appreciate it! Nina

@Nicholas Aiola Hi, Just got into REI not long ago. I don't have commercial property but only two SFH as rentals (one new construction will be closed in Feb 2021). I'd like to check if I can use the bonus depreciation in order to defer some of taxes from my W2 job income. Without paying someone hefty money to do a cost segregation, is there a way I can do it myself in order to take the bonus depreciation? Where can I find the guidelines?

Thanks for your inputs!

I don't have commercial property but only two SFH as rentals. But I do want to take the bonus depreciation in order to defer some of taxes from my W2 job income. Without paying someone hefty money to do a cost segregation, is there a way I can do it myself in order to take the bonus depreciation? Where can I find the guidelines?

Thanks for your inputs!

Nina

@Will Gaston  Nice outdoor setting! 

@Jonathan Oh @Will Gaston Great advices from both of you! I appreciate it!

Nina

@Will Gaston do you indicate at all in your ads that your renters don’t have to be a family and can be unrelated individuals ? Sorry for the questions . I’m a newbie in this and a little nervous. 

Thanks

Nina 

 @Will Gaston I'm checking Zillow and Craiglist for listing my rental in about a month or so.  Not sure about craiglist, it doesn't look like professional or organized.  You mentioned  you posted mostly on Zillow. How do you attract the right audience like those looking to rent by rooms but not the whole house?  You list the rent for the whole house, right? Will that price you out of the rate by rooms? Say it's a 3 bed rooms, do you list the size of each room or rate for each room?  I'm concerned if I list my house by total rent, it will be too high for anyone who plan to rent the whole house and also won't fall into the rent range for those want to rent by rooms. 

Nina

I have signed the contract for a brand new SFH near a group of colleges. It's a 3 br and 2.5 baths. This is a new construction and will be completed next Feb. It works for me since as a brand new landlord, I have sometime to get ready. This house also has a loft which can be separated by curtains (i think) and I'm thinking maybe I can rent loft out too for a lower rate. If I look for a group of students, they can decide who takes which room or loft. Is it ok for me to rent the loft as a room? The city housing said it's allowed to sleep one person in the living room, so i think the loft is much better than living room.

Since the house won't be ready until Feb, the timing could be tricky. I don't know if i'll have to fill it for a few months and then lease one year in fall. The colleges here are not open in person yet for majority of them, but  I know some of them are living off campus still.  I'm thinking i should start to post it as early as in December and I can use the Model house to show students. 

Shall I post my rental to Craiglist and Zillow too? 

I'll get to choose flooring soon. I think i should pay a little more to upgrade all carpets to laminate for easier cleaning and less headache. I know how dirty the student rooms can get. Is it worthwhile to send cleaning lady to clean the rooms  monthly and make them pay for the costs?

Thanks!

Nina

So the house has two car garage and one guest parking between every two houses - not designated though . If I rent to more than three people , then parking could be an issue . This also has HOA , so street parking could have limitations

Nina