All Forum Posts by: Pranay Verma

Quote from @Eliott Elias:

Check available rental listings in the area and get a realtor to send you sold rental comps in the area. Keep all expenses and monthly rents in a bank account, if you are using a property manager you will get monthly statements 

Thanks, I’ll be managing it by my own as I’ll be living in 1 bed 1 bath. 
that’s a great idea, I’ll keep it all in a separate bank. 
Are you aware of the taxes on rental income, is there write offs or flat % tax. 

Hey All, I was able to get in contract for a house hack 3 bed 3 bath townhouse property in Hayward. Now that i work on closing this I also want to look for tenants, I have a couple of questions. 
- How can I check the rental pricing, what is the max that I can go if I furnish the bedrooms

-How should I keep a track of rental income to report to the IRS. Any trackers or just venmo transaction history?

-I have a loan of 600k, how will the taxes work with the rental income, will i be able to write off the taxes and use all income to contribute to mortgage, or should I set aside government’s cut? 

Quote from @Joe Hammel:

Google FIRE Realty Team and see if you like the reviews. 

Typically the agent and PM will be separate experts to focus on each thing (otherwise they might not be great at either)

Logical PM @Drew Sygit is a one of the most knowledgeable PMs in the area.

 Perfect Thanks, PMing you Joe

Hey Folks, I am planning to get a property in Michigan, a turn key rental would be great, but I know they’re hard to find. 
what areas do you all recommend sansei as you guys are deep rooted in the market. 

I am also looking for Realtor and property manager, would love if it’s the same company (person)

Thank Matt and Steven

Quote from @Ruchit Patel:

Are you looking for a primary house or out-of-state investment? 

Looking to start with Primary house first. Live in half and rent the other half

Hey All, I am nee to the game and wondering if there are agents or service providers that run the numbers and scout properties for you at least for your first purchase so you don’t go in a ditch !?