All Forum Posts by: Tom Puiia

Hey Everyone - Although I'm satisfied with my current CPA, I'm exploring whether there might be options with deeper real estate expertise. While my situation is relatively straightforward with a W-2 job and 5 rental properties, I feel I'm not receiving the proactive planning and guidance I seek. I very well could be over analyzing this but hoping to gather the BP community's thoughts and suggestions for CPAs on the Seacoast of NH.

Thanks in advance!

Hey Danny - I'm also in Portsmouth and have a handful of rentals here. Always looking to connect with other investors in the area. Great find in the 4 unit, even duplexes are hard to find here.

If you have a target property in mind I'd be on the side of using the cash to build your portfolio. Assuming your 4 unit is cash flowing enough to sustain appropriate reserves. Have you calculated the payback period on the 5%? With RE values here I'd assume the 5% is a good amount of cash that could help you house hack a single family.

I would love to hear thoughts on the metaverse on a Real Estate Podcast. 

@Steve Wilcox

I will remember Gray Owl next time. Edgecomb gray has been my go to for everything but kitchen & bath. More beige than gray.

@Adam Martin

I'm also trying out the Behr Scuff Defense. So far no complaints. The flat sheen seems to clean up as advertised.

I'm curious if others have a go to paint scheme for their rentals I.e. Kitchens & Bath Swiss Coffee and living spaces are Revere Pewter.

Or, do you treat each rental differently and pick unique colors for that specific unit.

Thanks in advance. Interested to see the replies.

@Sean Dawson Typically if you need the money long term it's better to do a cash out refi and for short term the HELOC...The HELOC can be advantageous because once it's open you can access the capital quickly but it's better off as a bridge loan since they can carry variable rates. It's also cheaper than a full refi. If you are BRRRRing the property and believe you can get back the down payment in a cash out refi then maybe it is the best route.

The cash out refi, especially with rates still historically low, would be better off if you are using the money as a down payment on a new property that you don't plan on paying back anytime soon. The Cash out refi will be more expensive upfront but it's a fixed rate 30 year debt.

@Nathan G.

All solid points. I had not considered accessing the equity I've built through a line of credit for reserves if something devastating happened.

Is that something you personally would recommend opening just to have access to it quickly? Does it cost anything to open the HELOC? Are you charged when you pull from it or upon opening it?

Thank you

How much do you hold in reserves for each rental? Do you hold more or less for property type? (I.e. Condo vs Duplex)

I've heard 6 months but am curious what others are using.

I'm not a lawyer nor do I have the experience in this area to provide council. I would suggest watching some of the Anderson's Business Advisors' content on YouTube, some great free knowledge if you have no experience in this area.

I'm assuming all of your properties are located in NH and NH does not recognize series LLCs. What I've seen is each of the properties held in an LLC (created in the state they are located) and each of them is owned, or managed by, a holding company LLC (Typically created in Wyoming). I would consult a lawyer first and then bounce it off your CPA after they've given you the plan. All of this can be set up to pass through to your personal Schedule E tax form.