All Forum Posts by: Patrick OHalleran

Always trust the little voice...at a minimum running your concerns by a mentor/someone you trust.

For your portfolio, have you considered MTR's to mitigate the risk with STR's? Are there hospitals (traveling nurses?) near your properties?

Hi David - I used HallCPA for a Consulting engagement (about $5k) and found the tax planning support to be very helpful.  Would recommend.

I will be using the firm for my 2022 tax return (1040 and 3 LLC's), expensive (about $5k-6k) but given they've assisted with the tax planning I'm hopeful the synergy will provide the best outcome.

Happy to answer any add'l questions.

Pat
 

Currently have 2 beachfront (St Pete FL & Myrtle Beach SC)STR condos and 1 mid/long term condo in a golf community (AZ). Little to no cash flow on all 3 but each has and continues to appreciate.

Currently have $400k of equity in primary residence. Looking for a HELOC for down payment purposes on 2-3 additional single family home properties to serve as mid-term rentals in Arizona.

Wife and I make combined $350k from W2 jobs and 740+ credit scores.

Any recommendations for good HELOC's? (Not looking for cash out refinance)

Thanks!!

Currently have 2 beachfront (St Pete FL & Myrtle Beach SC)STR condos and 1 mid/long term condo in a golf community (AZ). Little to no cash flow on all 3 but each has and continues to appreciate.

Currently have $400k of equity in primary residence. Looking for a HELOC for down payment purposes on 2-3 additional single family home properties to serve as mid-term rentals in Arizona.

Wife and I make combined $350k from W2 jobs and 740+ credit scores.

Any recommendations for good HELOC's? (Not looking for cash out refinance)

Thanks!!

My STR in Florida bookings and rates are as strong as any of the previous 2 years.

Looking to sell our STR in St Pete, FL which has appreciated nicely over the past 2.5 years ($300k) but have not seen positive cash flow. We'll do a 1031 exchange and invest our $300k either straight swap or potentially for multiple properties. Goal being cash flow as we want to retire in 3 years from W2 jobs and need passive income to begin carrying us.

Questions:

Are there 1% purchase to rental opportunities with limited rehab work required in Phoenix-area (which is local to us, we have a good property manager in place for another rental property and they can take on our new business)?

What markets offer the best cash flow opportunities with limited rehab work required outside of Phoenix?' 1% REI markets?

If you had $300k how would you invest to maximize cash flow?

Thanks!!

 @Brad L. greatly appreciate the timely response and email exchange.

Anyone using for all or part of your tax needs?

If yes, please provide feedback. ROI? Key findings?

Many thanks, Pat

Appreciate the comments which confirmed my experience.  The program offers many of the items I want to tackle: overall tax strategy, review of past 3 tax returns, etc.  Had 2 calls with a WA sales person and was quickly forwarded a link to sign-up for $13,200.  I sent a follow-up email with 3 questions/requests before moving forward:  

1. Opportunity to speak to 3 current references.

2. Greater detail/specifics around the 100% customer satisfaction guarantee.

3. Given they're based in Arizona, like me, an opportunity to meet the lead CPA before moving forward.

I never received a response from the sales contact despite sending 3 follow-up requests on top of my initial request email.

That was it for me.  Disappointed as I hoped this might work out.