All Forum Posts by: Stephen Mahler

@Maxim K. Hi Maxim,

For arv, look for recent comps of similar houses. Pay attention to the finishes, number of baths, finished vs unfinished basement.

For estimating rents, it depends on whether you are considering a market rate tenant or section 8.

For market rate, look a rental comps in the area with same number of beds and baths.

For section 8 tenants, go on pha website to find the fair market rent for your zip code and number of bedrooms

@Allison Davis never heard of them but would love to hear if anyone has had success with them or another lender to finance a brrr.

I personally have used a heloc to fund my first 3 properties but want to grow quicker

@Nicholas Aiola

I have a question on cost segregation and qualifying as a Real estate professional.

First on cost seg, is it acceptable to do your own cost seg on a sfh separating out only the property you can reasonably value?

Ex. 5yr property: flooring, light fixtures, heater, doors, trim, kitchen appliances, cabinets, etc?

On real estate professional status:

What is required by irs(if audited) to prove the status?

My wife works part time and we have 3 rental properties and looking to grow.

Hello BP community,

Anyone know of a good real estate CPA based in pa or familiar with PA tax code?

@Cody Malave

It may depend on how your entity is structured.

I have a llc taxed as a partnership (pass thru) entity.

I can make owner contributions and distributions any time for any reason. Just make sure you document properly.

@laudy 

@Laudy Florentino Steesa and Cozy are two different products. 

Cozy is a rent collection product enabling you to accept rent from tenants electronically.

Stessa is more of a tracking software so you can see how your portfolio is performing

@Sean Thompson I'm curious how you made out with your section 8 properties. I am currently rehabbing a property and thinking about placing a section 8 tenant. 

@Matt Moylan Thanks, I will be looking to do a cash out in the next month or so

I believe the 64 things mentioned by @Jim Kennedy are referring to depreciating personal property using cost segregation. I would be interested in this as well as what qualifies as "material participation" for the real estate professional designation 

I'm considering this right now as well. I think it depends on your situation. Will the 80% LTV allow you to grow your portfolio quicker? If so, do that if you can pay the heloc back on a short term basis. Otherwise go for the cash out with longer repayment