All Forum Posts by: Travis R.

The most popular deductions for landlords are interest, depreciation, and repair expenses. After becoming a CPA I realized that we typically specialize in one specific area of business (I chose real estate). Best way to find a great CPA in your area is to ask other investors in your area.

@Kristen Watts Kristen, John is correct as most lenders tend to add depreciation back into income. Also remember that depreciation can't be taken on your primary residence.

Welcome to BP. You are in a great market! I worked in property management in the Tampa/St Pete area. Great for investing/flipping!

Good luck,

Travis

@Jeremiah Satterfield

Sorry I forgot about the experience requirement!

Keep in touch with how you are doing with real estate investing! I currently work in auditing housing authorities and developers that are involved in HUD and LIHTC. So i can do both real estate and accounting at the same time.

When I started I looked for a broker who focused on investors. I was apart of a property management firm that had a leasing and selling side and specifically worked for investors. The boss encouraged me to start investing in real estate while I was there!

I am currently finishing my masters at Wake Forest who is known for highest CPA pass rate typically. The program has us finishing all 4 parts over the summer. After that I will finish up 10 credit hours I need and will have a full time offer waiting. Before this I worked for a property management firm which is how I got interested in real estate. I'm unsure of what you are saying about the 4-year requirement. Could you explain that?

Welcome to BP. I am in Charlotte working as an auditor and about to obtain my CPA license so we have similar insterests. I started by listening to the podcasts and reading the beginners guide. Let me know if you need anything!

Travis

I would say it is what you are comfortable with and what your goals are. Putting down a larger down payment will provide you with a larger cash flow but putting a lower down payment and looking for other properties can be advantageous too. Since you said you plan on gaining enough rentals for it to be your primary cash flow what I personally would do is put the 20% downpayment and look for another great deal.

Good luck!

Travis

Welcome! Best of luck to you. I am also in the Charlotte area.

Thank you! I will be reading everything I can on the site!