All Forum Posts by: Storme Whitby-Grubb

 Hopefully this doesn’t come across as hijacking this thread :) I’m in a similar boat as OP, and have lately been thinking syndication is the way to go. I’m on a few lists for accredited investors but the initial investment is usually very high (100k +). Can you recommend any syndicate funds or lists you like or follow? Thanks! 

@V.G Jason, thanks so much for the insight. THIS is why I joined this forum. These convos are invaluable! Really interesting to hear your thoughts on Syndications, and yes, I imagine the past couple of years' returns are being used to reel investors in now, when I don't think we're out of the woods yet with the landscape. 

I really appreciate your thoughtful replies! 

Thanks for the encouragement @V.G Jason! I'm so glad I found this forum, because I would've gone in assuming I'd benefit from the deductions, as all the REI research/books I read all praise the deductions available - luckily I stumbled upon that very important factor of AGI of 100k! Already, I have a better idea from the articles and comments on this site, which is awesome.
I'm going to revisit Syndicates given this intel. I had attached myself to the tangible asset of property (with a manager), but if cashflow and appreciation are on par in a syndicate, I may be better off parking cash there. The goal remains the same - to build wealth and get out of the rat race and city. Hmmm, a lot to think about.

Have you done anything with Syndicates? 

thanks again for replying. 

Thanks for your response @Michael Plaks! My goal is to build wealth and cash flow, and get back out of W2 (I was self employed and had a few companies along the way for the first 20 years of my career), so I want to make sure I'm utilizing any deductions to their max. I appreciate you taking the time to respond. Thanks.  

Hi all, 

I'm gearing up to purchase my first investment property. I had settled on OOS SFH in 2023, with the goal to potentially purchase MFH in 2024. I have been looking at buy and hold, and putting tenants in the property. However... I just stumbled upon info online about not being able to deduct losses if your AGI is over 100k with W2 employment, which mine is. I've spoken to my CPA a number of times about my plan to buy real estate, but it is not his area and isn't able to help with any strategy or advice etc. I'm trying to educate myself as much as possible, whilst trying to find either another CPA, or an attorney (which is what my CPA advised).

I stumbled upon the incredible Amanda Han (Brandon Turner's CPA/advisor) online, and her bite sized info has alerted me to possibly running into an issue with my current plan. I am getting killed by taxes in CA (I don't own a primary here, single filer, no kids, so I have essentially no deductions right now), and was hoping this could help me with some deductions whilst building assets. 

I had originally planned to do this through an LLC, but having spoken to a few professionals, at this point it doesn't make sense to do that.

I am actively on the hunt to consult with a REI CPA, and am sifting through the recommendations on here as I type. In the meantime, if anyone has any insight into if there are ANY deductions that can be made whilst owning LTR whilst on a W2 with over 100k AGI, I'd greatly appreciate your input. I wanted to steer clear of STR because all the AirBnB laws keep changing, and with economic slow down and layoffs in tech sectors which is an area of extreme disposable income to travel etc, it just feels like the wrong time for me personally to invest in an area where discretionary travel is likely to be the first to go from people's budgets as they tighten their household budgets. That's just me though, and I know there are tons of great success stories out there, and that CPI has come down, so yay for that. But right now, that had been why I was steering away from STR.

If you read this far, thanks for reading this essay! Appreciate any insights, or CPA / tax strategist recommendations I could get a consult with too. 

Thanks!

@William Lokar @Peter Nikic, thanks so much for your thoughts! I need to dig in a little more on Jonhson City. That's only recently come across my radar. I had been looking at Knoxville and Chattanooga a bit, so good to know you're having success there, Peter. 

Hello Everyone! 

This is my very first post on BP! I've been looking into these very cities for my first out-of-state MFH investment. I'm also open to SFH as I may have to wait until 2024 to do MFH, so may move on a SFH this year if I find the right deal.

I know this thread is a few years (and a pandemic) later, but would love to revitalize this thread and hear your thoughts on these cities now? I've friends in Nashville, and am wanting to start/build my portfolio in an area I could possible move to eventually. I'm currently in Los Angeles, and dreaming of moving to the mountains, nature and woodland, so TN has a lot of appeal for long term investments. 

Any updated thoughts on Knoxville vs Clarksville vs Johnson City vs Chattanooga much appreciated! 

Thanks, 

Storm