All Forum Posts by: Sam Hudacek

 Good to know thanks!

Hey all!

I will be moving to the Northern Virginia/DC area in a couple of months and would love to meet investors from the area as well as a real estate agent, insurance broker and/or attorney familiar with LTR/STRs. Lastly, if anybody has a recommendation for a leasing agent to find apartments for rent that would be greatly appreciated!

-Sam

 Hi Ulises,

The sub-to deal was through family so it was a little easier, I haven't closed another creative deal unfortunately, message me and I'll give you the attorney contact!

 Thanks Michael! the linked post you wrote clarified a lot of the myths. I can see how I would pretty much need a new property every year to be able to continue to offset that W2. I will speak to my CPA on his thoughts and see what my options are.

Hey Joseph! that makes sense, I want to get familiar with the tax strategy and hopefully venture into the STR world once I move in the next year or so, let's stay in touch!

 Hey AJ, thanks for the info! a G-Wagon is definitely in the near future as a business expense! let's connect and discuss further!

Hey BP! I currently own a couple multi-family properties that are all LTRs and work a full time 6-figure job, so becoming an RE pro is almost impossible. I max out the $25k to offset my W2 under passive activity rules (as its slowly phased out for me).

That being said, would it be beneficial for me to buy one or two STRs primarily for the purpose of being able to offset my W2 income? (providing I meet all the criteria). If they were the right land/building ratio and made sense to do a cost seg/bonus depreciation, could I potentially offset my entire W2 salary? If I owned several LTRs and STRs, I'm under the assumption those two would not mix when it comes to depreciation and tax deductions because one would be active vs passive?

Hopefully these questions make sense, and I'm open to suggestions on more tax savings, thanks!

 Granted this was last winter but Service First FCU in South Dakota, their rates were 2-3% lower than some banks after calling 25 banks.

Awesome, thanks for all the answers!

Hey all,

I've got a tenant threatening to sue in small claims court over partial security deposit return due to damages.

The property is in my name which is also my primary residence. I feel like i have a great case regarding evidence, my question is, what is the worst case scenario regarding small claims court?

If its a win or a loss, does it affect credit score? My business down the line? Mortgage lending? Employment? Etc.

Thanks all!