All Forum Posts by: Shaun Weekes

So my CPA last week said that he can no longer do my taxes because he no longer does extension and I can't get my tax documents to him before their internal deadline. As such, I'm left with the question - should I hire another CPA OR try my hand at doing them myself? I'm married with a W2 income, 1099 income, 2 dependents, my own home and 3 residential rental properties (2 SFRs, 1 duplex). I'd love some advice!

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Would like to get a few opinions on how others select a lender for a primary/ principal home. I usually have pretty specific goals for an investment loan. However, I'm going to be buying a new primary home soon - not an investment. 

In this scenario do you use your same investment lender, or do you work with a different lender? If so why?

Hey everyone!Probably a post that gets mentioned a lot but struggling to find a solution. I am looking to do a HELOC on my first property but can't find anyone that does HELOCs on specifically investment properties in Nashville or Nationally. Does anyone know anyone that can do an investment property HELOC? Preferably 80% or higher LTV.

Using the BRRRR strategy, I am in process of purchasing my first rental property, a duplex with a heloc on my primary residence. I plan to quickly rehab at least one of the units then move to the next. When I go to refinance the duplex, would it be wiser to pay off my heloc or use the cash to pick up another investment property?

It's obviously quite stressful with so many unknowns being my first rental property and the units are in rough shape but in very desirable community which I think could work out well for me long term.  The current rents are close to half of what market rents should be.  One tenant has already given notice and will be out in a few days and the other tenant is looking because they know their rent will go up.  

Thanks for the advice

This is a sound strategy if you've done all your homework. Calculating the ARV, Reno Budget, Market Rents, DTI etc. Since you have one tenant leaving and the other looking you might want to see if the owner will deliver the property vacant. This way there's no chance of having issues with a tenant who says he/she is leaving and come to find out they're not and not paying market rents or whatever your increase looks like. 

Paying your Heloc back via the refinance of the duplex is what you want to do. Putting a fixed rate on the duplex and having access to the line again is a great way to maximize the use of your HELOC. I hope this helps and have a good one.

This is probably a unique situation, but I'm hoping someone has experience or knowledge.  My late husband and I own three rental properties.  He passed away unexpectedly about a year and a half ago.  The titles of the three properties are all in the name of our trust, but the mortgages were solely in his name.  I haven't done anything about that for the past year+ for multiple reasons, I've just continued to pay them.  However, I'm thinking it's time to do something about them.  I called the lender and no one that I could get a hold of knew anything or would tell me anything about what my options are.  I was just told to send a lot of different documents via snail mail to their corporate offices.  Does anyone know if I have to refinance them under my name? Will I need to pay them off?  Can I just transfer them to my name?  I really have no idea what this will look like.  

Hello guys, does anyone here use high cash value whole life insurance for infinite banking? And what's your experience? 

Hi Bigger Pockets Fam, 

Tax Time is upon us, and this will be my first year filing with a real estate portfolio. I baught 2 properties using financing, and used a HELOC on my primary residence to come up with the down payment amounts. This got me thinking...

Is it possible to claim the interest payments on my HELOC as a tax deduction? I am currious if anyone has gone down this path, and if it is a good move or not.

Thank you! 

Ryan