All Forum Posts by: Nitish Gupta

Hi Ryan. Thanks for replying. My questions at this moment are pretty basic. Should I wait for prices to drop before buying my first rental property? Prices in the north-east are so inflated as is. Also, which areas in CT would be best for a cash-flow rental investment? Being a physician, I am innately very risk averse, so I would really appreciate any guidance/mentorship I could get. Thanks

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Hi guys,

I am very much interested in starting my REI journey from scratch. Hoping to build a portfolio strong enough to live off-of in 15-20 years. Recently relocated to Connecticut and would love to get in touch with fellow investors in the area.

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@Melissa Nash

Thank you for that reply it was very helpful

Just to confirm, this is not possible with syndications? Syndication depreciations can only offset passive income?

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I am not an accredited investor. If I invest into a multifamily house, eg 25k$ for a certain % ownsership into the LLC that was created by the actual entity for that house. Can I use the depreciation to offest my W2 taxes?

I ask as I recently found out that you cant do that with syndications

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Originally posted by @Poem Turner:

This is probably what is commonly known as "Section 8" or the "Housing Choice Voucher". And yes, the government pays the bulk of the rent while the tenant pays a (usually very minor) portion. And yes, the local government program that operates the program pays no matter what. There are certain criteria to get a house to qualify but in general they amount to "don't be a slum lord"; windows that open, electrical outlets that operate, appliances that operate (dishwashers are optional depending on your state/region), etc. I have houses in this program and work with clients who do as well; technically a client convinced me to go this route in the first place. The rent is usually much higher than it would be in the private market because they are comparing based on size, not age and finishes.

I see. That's very interesting. I am surprised I haven't come across that information before. I need to figure out the drawbacks of such an investment

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Originally posted by @Dan Schwartz:

@Nitish Gupta learn about the government program, and if it's a) long-term and sustainable and b) you can operate within its rules, go for it. We had a 4-plex in a low income neighborhood and sold to someone who told me he was going to put all of the tenants on a government program that would pay him double what I was collecting. A few years later, he sold the 4-plex for about 3 times what he paid us for it. I don't know what the program is, but it was successful for him!

Thanks for the suggestion. I will ask the agent more details about the program. He made it sound like a very smart deal.

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Hello,

I am researching to purchase my first real estate investment property. An agent suggested a property in the 70-80k$ range, currently occupied by tenants. Apparently, the renters are of low-income earners and the rent is being paid by the government, which continued to come through the entire lockdown period. Is that a good investment? The agent calculated a 13% ROI and said such properties are the best to look for as the govt will keep paying, and no need of any improvements as that will not increase rent. I would appreciate thoughts on this

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All Forum Posts by: Nitish Gupta

Nitish Gupta has started 3 posts and replied 7 times.

Post: Newbie REI here

Post: Newbie REI here

Post: Offset W2 Taxes

Post: Offset W2 Taxes

Post: Property with Rent paid by the government?

Post: Property with Rent paid by the government?

Post: Property with Rent paid by the government?