Irene Low
First-time house hacking... Is there a bad way to house hack?
14 July 2024 | 7 replies
Some people see it as a way to get into a multifamily house at a lower downpayment and interest rate, while still providing themselves a place to live.I think the only way it would be "wrong" is if it puts you in a situation you can't afford or makes you "house poor".My husband and I rent out 4 of the bedrooms in our house plus a bonus room, meaning we have 6 roommates, but our entire mortgage is covered.
Account Closed
Multifamily Development - Nevada
11 July 2024 | 1 reply
One owner is a wealthy casino owner who collects land and may consider selling but for way more than its worth.
Evelyn Guo
K1 loss tax report for non-resident state (NC)
13 July 2024 | 10 replies
Each State is different.Some states require you to track the passive losses at the state level.There may be a state equivalent of the form 8582 or there may be a completely different state form.Also be mindful that some states do not recognize bonus depreciation so there may be some federal / state differences for rental income.
Melissa Allen
Tricky question about HELOCS and retirement account loans
12 July 2024 | 8 replies
Because of material participation (I self-manage)/bonus depreciation/cost seg, we’ve been able to get all of our taxes back both years so far.We cannot keep going the way we have for two years, so that’s not an option.
Paige Seeley
First rental property guidance!
13 July 2024 | 9 replies
If you decide to do this, make it a one-off or no more than a few months like a bonus incentive to sign but it doesn't last the length of the lease.Best of luck to you, Paige!
Tori Trent
What are house hacking strategies that others overlook in an expensive area?
14 July 2024 | 27 replies
The downstairs has 2 bed, 1 bath, and a bonus room.
Tyler Eastridge
Bonus room Ideas
7 July 2024 | 13 replies
It is a 3/2 with a converted one car garage that is a bonus room.
Nicholas Halterman
Is it worth putting money down on a VA home loan?
11 July 2024 | 10 replies
The right loan officer can calculate all of this for you and set you up for success not only now but for future properties too.And as I mentioned, you can not only use your VA benefit for 1 property, if your purchase price is low enough, you will have secondary/bonus entitlement to buy a second property with a VA loan.
Julio Gonzalez
Cost Segregation Study on Multifamily Property
8 July 2024 | 0 replies
The study identifies with forensic engineering detail the immediate Bonus Depreciation 5, 7 and 15-year personal property class lives qualifying portions of a building that are normally buried in 27.5 year residential or 39 year commercial categories.
Sateesh Kumar
Sell triplex and buy 12 plex in Oakland good idea?
12 July 2024 | 42 replies
But to use a casino analogy, playing with "house money" and getting all the perks is the best way to vacation in Vegas.