All Forum Posts by: Ryan Reid

Hey BP fam!

I have a single family BRRRR that I have not refinanced yet, that is in my name. I want to move it to my LLC. Does it matter if I move it to my LLC before refinancing or is that a bad idea?

Hi Bigger Pockets Fam, 

Tax Time is upon us, and this will be my first year filing with a real estate portfolio. I baught 2 properties using financing, and used a HELOC on my primary residence to come up with the down payment amounts. This got me thinking...

Is it possible to claim the interest payments on my HELOC as a tax deduction? I am currious if anyone has gone down this path, and if it is a good move or not.

Thank you! 

Ryan

This is great information! I was on the fence about doing it, because I didn’t have a complete picture of what cost segregation is. Now I feel confident moving forward. 

Thank you both! 

Hey everyone,

I am a new investor that closed on my first property back in June of this year (new construction) and will be closing on my second (a BRRRR property) in the middle of December. Now that tax season is around the corner, I learned that cost segregation studies will speed up the depreciation of my property, so I can pay less in taxes. I love my W2 job and don't want to leave it, so my long-term goal is making enough passive income to cover my family's monthly bills and save for more properties in the future.

So, my questions are:

What are the pros and cons of using a cost segregation study at this point in my investing career?

Will cost segregation studies positively or negatively impact my ability to finance more properties in the future?

Any advice will be much appreciated!

Ryan Reid