All Forum Posts by: Rick Figurasin

Any recommendations on a CPA who is familiar with taxes regarding hawaii real estate investments in addition to S-corp, LLCs, and backdoor roth contributions (i.e. properly filing form 8606)?  

That's a good point. I was worried about the costs of several different LLCs. We had always heard you should create a separate LLC for each property but it sounds like it would be a lot more work.

Hi! 

My wife and I are investing in a property in Florida with her sister. Is it better to have a single LLC with the three of us or are two separate LLCs better (wife and I as one, sister as the other). We're not sure if there is a benefit from a legal/tax perspective.

How would that work in terms of reporting/paying for taxes?

Thanks!

you all make some very good points.  thank you for the examples and actually breaking down the numbers!  it really puts things in perspective.  we will definitely be buying then.

we did find some properties with VA assumption loans but the particular property we are looking at does not offer it

thank you for all the responses! the area I am looking at is the Pearl Harbor area. 

it seems the consensus is to do $0 money down, pay the higher monthly, and keep the cash for possible investment opportunities. what are your guys thoughts on renting instead? if i rent for around $3000 in the area, i can save even more for investments (though I will be giving up on equity, future appreciation

I'm moving to Hawaii for work and looking to buy a home in Oahu. I found a 3/2 that is walking distance to work, is close to a lot of stores, and in a good neighborhood. I plan to be there for 4 years and depending on work, may consider renting it out afterwards. The problem is that I'll be paying $4500 a month which includes PITI/HOA. The benefit is I can put $0 money down with a VA loan and save my cash for another investment property. Of course if I decide to down 20-25% (about $130k), the monthly payment drops to $3700. Currently, rent in the area is going for $3000-$3500.

Is it worth it to save the cash for another down payment and deal with a high monthly payment (that may not cash flow in four years)? Or put a 20% down payment and not have the capital now to invest in other properties for another 2 years.

Also do you think the current market outlook with the fed and interest rates will negatively/positively affect me if I buy a home in the next 1-2 months?