All Forum Posts by: Allan Mugu

Thanks guys. I appreciate the recommendations.

I have some friends looking to purchase their first residential home in Houston: Sugarland, Katy, Inner loop areas. Any recommendations on a good realtor they can work with? Thanks

Plan to hold rentals under my name not in LLC or corporation. Thanks for the feedback.

@Deborah Burian Yes set up as business with separate checking. I kept good track of expenses knowing they would come handy at tax time.

@Bryan H. Taxes are interesting. Sure there are probably several ways of deducting expenses depending on the CPA.

@Steven Hamilton II If I read your post correctly, sounds like the start up expenses cannot be deducted until there is income coming in. Would I be able to carry forward the expenses to next tax year and deduct them then when I have rental income?

Last year spent about $2000 trying to get real estate business started. Money was spent on what I consider start up costs: direct marketing, INC incorporation, etc. Did not end up doing any deals wholesaling or rental properties that resulted in any income. Would these expenses be deductible? Not looking for legal tax advice just general thoughts based on experience. Thanks

@Ryan M. read online that AFCI breaker are very sensitive and sometimes false positives. I'll confirm with the electrician; hopefully will be an easy fix.

Thanks all for the responses. The property is fairly new built in 2008 so don't think breaker/wiring is old or corroded. Agree that having a blow dryer and space heater is too much load but breaker also trips with just lights and TV on. I will contact an electrician to check it out.

Have a property where the electric breaker in the master bedroom trips about once a week. Seems to happen regardless of whether what is plugged in (space heater, blow dryer) or not. What to get some thoughts on potential problem before I contact an electrician. Thanks!

Anyone have recommendation on a investor friendly real estate agent in the RoundRock and Hutto TX? Looking at buying rental properties in the area.

Thanks!

@Alia Abbasi Thanks for the recommendation! I talked to Edwin this afternoon. Happy Holidays