All Forum Posts by: Amalia G.

Thanks for your replies. I will reach out to a few. cheers.

I found out my CPA, who is an enrolled agent, is asking us to find a new agent to do our taxes for next year (2017 filing year). He is a single guy set up and when I started with him, I had a simple W2. Now our returns are much more complex. He has always done a thoroughly and quality job for us but it sounds like it is time for us to move on.

We are looking for a highly experienced/knowledgable replacement. The areas of expertise should be rental properties in multiple states (MN, TX, CA, UT) owned jointly and some owned by an LLC. We are looking for someone well versed in maximizing deductions and depreciations on schedule E's. That stays current with the laws as they change from year to year. In addition we have some stock sales on occasion and may be including some short term rental income soon.

I keep clean, detailed and organized books covering all aspects of our rentals. 

We have no issue working with a remote person, we actually prefer email and digital means of communication over face to face because of time constraints. However we need someone well versed in California tax laws as that is where we are located.

Any recommendations or agents that are interested, please let me know so we can discuss more. 

Thanks everyone for your advise. I think we are going to have it fixed at our expensive and move forward from there for now. 

Hello Everyone,

I'd love some advise on how to handle a difficult tenants request.

In summary, this is a nice unit, not a slum and I maintain all my units. I am on good terms with most all my tenants as I make a point to take care of them.

That being said this tenant is quite a headache and often making outlandish requests.

Here is what is going on:

He sent an email a few weeks back, saying he saw some rat droppings in his closet and then went on to say he is sure they are coming from his neighbor (other side of a side-by-side duplex). He claimed she admitted she had rats and thus was requesting we get her to pay for abatement for him.

Well, we talked to said neighbor who said she did nothing of the sort, and obviously we would not try and get her to pay for any repairs on his unit regardless..

I wrote him a polite email explaining that, per his lease, he needed to handle any pest problems himself and that his neighbor admit or not admit of guilt wasn't relevant. 

Now yesterday I received a certified letter in the mail claiming he has a rat infestation in the walls of his duplex. He is now saying they are getting in through some gap (first time he has mentioned it). He is syaing is consititues and threat to his health and safety and that they expect it resolved or he plans to excericse  chapter 92, subchapter B of the texas property code.

I believe the correct action plan is to fix any gaps into their living space (the first time we have head about any gaps) and then let them deal with the 'rat infestation'. I am fairly certain that they have not even seen an actual rat, just droppings.

I'd like advise on if my action plan is correct on how to respond and on the right wording to respond appropriately and legally.

I'd be willing to pay fee to have a letter drafted up as well.

I find it quite sad that this tenant believes sending threatening letters is the best way to handle this. We have never shown a lack of commitment or compassion in handling issues at their unit and its just  a bad way to go about working with people in my opinion. Clearly I do not plan to renew with him but i'd like to live out their lease peacefully.

Thank you for any and all advise!

My partner and I are starting to get knee deep in some legal questions regarding our properties. 

We want to set up a trust and/or living will but need some advise before doing so.

We own 10+ properties between us. Some titles are in both our names and some titles individually.

We are a non-married couple.

We started to add the other persons name to titles where only one existed with the idea that is would make the trusts easier to set up. However our CPA recently informed us of the gift tax we didn't realized we would occur in doing so (as we are not married). 

Does anyone know a way around this, or if having the titles in only one persons name is significantly different/expensive/harder in terms of setting up trusts? 

At this point, we are thinking we need to put the titles back in only the original persons name before the tax years end to avoid these gift taxes.

We own properties in the following states: MN, TX, UT and our primary is in CA.

Appreciate any advise, I do realize the question in complicated.

Good Afternoon Everyone,

I'd like to know if anyone has recommendations on financial advisors in the Bay Area of California. I am not looking for someone to advise on how to invest money, purchase annuities etc. We specifically need help on understanding and  getting proper asset protection lined up. 

I own or co own 10+ properties of various sizes across the US. From sfh to a small apartment complex. 

We are really looking for someone well versed on the ins and outs of real estate investing and the strategies for asset protection. 

If you've worked with someone  please share. 

Cheers. 

 @John D. ,

 Thanks for this tip. I never thought about contacting all the local banks directly but it makes sense. Are you investing in these type of properties in Reno or elsewhere? I looked briefly at Reno bc of its proximity to me (San Francisco).

@Mark Creason 

It sounds like this is the way we should proceed. Thank you for your feedback! I am going to start looking at some smaller complexes (5-10 units)

HI@Account Closed ,

I have briefly looked on loopnet. May try and explore it more. thanks....

thanks Jon. Okc is actually a place I have been checking out recently. I may start to get more serious about it. 

And dawn, thanks for the advise. All my places are currently out of state and agree you have to be extra careful. It's another beast, being so far away. 

thanks Hattie. I actually have  A few in Austin. And though I love Texas opportunity the property taxes are a killer ! I have been trying to stay out of it for that reason.