All Forum Posts by: Steve Weihe

Thanks @Katie L.!  I'm not sure if we should itemize or not.  TurboTax has always been so easy.  I would appreciate any recommendations you can provide.

Morning all,

We sold our house late last year in San Diego and ended up renting it out for the previous 6 months as initially our buyers didn't qualify.  We spent almost $12k to get it rental ready (repairs, replacing worn out carpet and floors).

We used the sale proceeds as a down for our primary home and plan to live here for the long haul.  

We usually use TurboTax but it has us owing almost $2k even after deducting depreciation, repairs, child car etc.  I think we must be missing something.  We gross only about $100k total (wife and I).

Looks like a need a CPA versed in real estate.  Thanks for any advise you can offer.

Seeing quite a few small multis on the MLS in Huntsville for extended periods of time. Guessing these are in the scary parts of town, have issues or listing price is too high.

After clicking on the link, they are renting for $300/unit for rent?  In San Diego?! When they say long term, they must mean REALLY long term with no raise in rent.  Wow...

Morning all! I'd love to connect with other investors based in San Diego. Looking to purchase buy and hold properties in the Midwest or South. If you guys/gals ever want to meet up in Julian, the pie is on me. Or Ramona, where my wife and I live, has some excellent wineries.

I think David Greene wrote an entire book on this very subject 😉.  After reading it, buying OOS is not too different than in your backyard.  Have an A+ team in place and do your due diligence.  Good luck!

Hi Jeff Brower. Thanks for the reply. I'm doing 20% down with 5% each for vacancy, repairs and CapEx. 10% for PM. This property is in the southeast and I don't anticipate is moving away from San Diego. It's 75 and sunny right now 😉 I certainly see the benefits of house-hacking but it's not an option for us. I re-did the numbers and at a purchase price of $135k, the COC, cash flow and equity #s are looking better. Always appreciate the feedback!

Hey all,

Looking at a 4 plex for $165,000. Needs minimal rehab, is in a C neighborhood and is fully occupied. Rents are at $500 each. Came out to $350/mo cash flow total (just under $100/door) with a 11.40% COC return.

Since I'd be using family for the down payment and would like to do a cash out refi in a year or so (to pay them back plus 10%), not having instant equity (buying at a discount) presents a problem for a future cash out refi.

This property still cash flows but would not be a "deal" since I'm not buying below market.  This would be my first property so I'm excited but want to be cautious at the same time.

To buy or not to buy?  Thank you.

Morning all,

Also looking at Huntsville for SFR. Happy investing!

Good evening all,

Just curious where fellow investors hold these funds.  Is it in a regular checking/savings account, money market account or something with a higher return that still offers liquidity like stocks/index or mutual funds? 

Thank you!