All Forum Posts by: Richard Jahnle

@Rebecca Shine - I have an identical situation to you, house hacking a duplex, I live in a 2 bedroom and rent out the 1 bedroom, so the units are similar in size, but mine is slightly larger. Purchased in October 2016. My CPA and I split everything up 50/50 between Schedule A and Schedule E for my 2016 taxes. 

@Lance Lvovsky and @Edmund Ricker - Do you think going forward, 2017 and on, I should switch from 50/50 to splitting everything up by square footage? Or just keep it 50/50 since that is what is reflected on my initial tax filing?

You could check out Belmont Contracting Services - Peter is great

@Matt Burns I have friends who live in Brewerytown and they have no complaints about the safety. It seems to quickly be on the rise, with the Flying Fish Crafthouse just opening in December and the luxury apartments above them. Still, it all depends on what street you are looking to live on, the streets where properties are still cheap are mostly run down row homes, and the areas are not nearly as nice/safe. Transportation from Brewerytown isn't too bad with the trolley and buses (if you don't mind taking the bus), plus it's easy to get out of the city with access to Kelly Drive and then 76

@Mike B. I've been checking your progress on this project over the past few months - congrats on finishing the rehab and on getting tenants, the place looks great. Sounds like it's pretty difficult to make money on projects in Philly right now with how high the prices are, so pulling off a successful BRRR right now is impressive.

I would like to do something similar in the Philadelphia area soon (I live in Roxborough). I'd be interested to hear how the refinancing process works out for you. Where/how are you going to refinance the property?