All Forum Posts by: Darsh Kumar

@Linda Weygant as long as i meet those requirements, I look forward to claiming REPS. Appreciate it!

How's it going! I recently moved to Wichita, Kansas.

I am a newbie real estate investor and work in the healthcare field. I'm interested in claiming REPS on my taxes at some point once I've gotten my rental properties in order. I plan on closing on my first deal this summer and hoping to keep the momentum into the rest of the year.

My understanding in order to claim REPS, I'd need to have real estate as my primary profession and I'd have to spend a minimum of 750 hours a year on real estate. Working 32 hours a week in my clinical job, I am confident I'll be able to put additional hours into real estate to qualify for REPS.

My only question is I'm looking for a CPA who can help in this area. I've come across CPAs who are saying that I would not qualify because I'm not a real estate broker. Is this true?

Please contact me if you are that person or know of someone who can help!

Thank you!

@Brad Simmons thank you so much!

@Jonathan R. Appreciate your advice! Definitely something i'll look into especially with people in my family who could benefit from this, too!

@Colton Marx awesome!

Once I get my feet wet, would love to meet up and hopefully work together on some deals in the future. Appreciate the help!

@Colton Marx thanks for the advice! What have you found to be the most effective way to find tenants?

From what I've read, craigslist & Facebook marketplace seems to work well. Are there any other options? Especially in the Wichita area? Thanks!

@Fidelis Obu thanks a lot for the heads up. Will definitely check out that post!

@Ariel Nixon thank you for the advice. This is definitely new to me so I appreciate any help I can get

@Bill Brandt oh, thank you.

I am in the Wichita, Kansas area

Hello!

This is my first potential deal but fortunately, I am in a unique position to potentially qualify for a physician's mortgage since I'm in the healthcare field. This specific loan entails 100% financing, no PMI, 3.5% interest for a 30-year fixed loan. The limit for the loan is $510k.

My plan is to house a single family home but would like advice on how to approach this unique opportunity. Would anyone recommend purchasing a bigger house for a higher purchase price or a biggest house I can get for the cheapest price? Or is there another scenario that you might recommend?

One scenario: My thinking is that if I potentially purchase a 5Bed & 4Bath (for about $300k) and house all the rooms except one (which is where I'd live), then I might be able to get pretty good cashflow if i rented each room for at least $500 especially if the mortgage will be just under $2,000.

Another scenario: 5Bed & 4bath for $450k and house hack the same way.

What are your thoughts? Thanks! Help greatly appreciate!