All Forum Posts by: Ryan Fox

@Joel Bayer- I stopped using the BRRRR calculator a while ago because it doesn't handle complicated financing scenarios like this well. The easiest way to get around this is to figure out how much the property would cash flow using the "rental property calculator." You'd analyze it as a "cash purchase" and add a special expense category for your principal & interest payment.

Once you see how much it cash flows, you can divide by your total cash investment to find the cash on cash return, then make assumptions about appreciation and mortgage paydown to find your total return.  

Hope this helps.

@Tim J.- You're right.  Groceries don't have anything to do with rental properties.  My point was you can customize Quickbooks (or Quicken if you go that route) to track you personal stuff and rental property / business stuff.  

@Juan Lizarazo- Quickbooks.  I was using Stessa before but it didn't allow you to account for other income and expenses, like salary, groceries, ect.  You can add your own categories in QB so you can account for all that stuff.  This is probably not the way you're "supposed" to used QB but I didn't want to get two softwares - one for business and one for personal.  

@Eden Elhar- I think I know an immigration attorney who could help if you'd like a referral.

@Issa Santos- I found 8 lawsuits they've been in, but I don't know of the details.  They're in GA, FL, and TX.  Of course just being sued isn't proof of anything.

Appreciate all the responses.  I'll check with my accountant to be sure.  

@Michael Plaks- Yes, that is how I calculated the gain.

So I wouldn't owe depreciation recapture?

I'm asking this question because I'm getting different answers from different CPAs as to how much I would save.  I'd like to sell one of my rentals and put the proceeds into stocks instead, but if the tax hit is too high, I'd do a 1031 exchange.  

The gain on the sale of the rental property would be about $58k after expenses.  For this year, I currently have about $131k in short-term capital losses outside of real estate.  I have no other short-term gains to offset those losses. 

Since I bought the property in 2019, I've written off about $13k in depreciation.  How much would I save doing the 1031?  TIA!

@Jonathan Cisneros- Sent you a DM.

@Jonathan Cisneros- What part of LA?  I may know some people.