Joe C.
Are loan payments tax deductible when pulling STR equity out?
Hi everyone, long-time listener, first-time caller... I am in awe of all your collective knowledge and hoping to tap into it for something I've been curious about.
I own a STR with no mortgage, held directly not in a...
Timothy Blackman
Tax lein/ tax deeds. SIOUX FALLS?
Does anyone still purchase or pay for tax leans in 2024? I am trying to learn more about the practice.What are Some things to look at? What to watch out for? What is the reality of it from real experienced people?What...
Ryan Weimer
Denied from Fannie/Freddie for "overall credit profile"?
Never good to get a surprise call that Fannie/Freddie is pulling the plug on you. Was wondering if anyone has heard of this kind of situation - Credit Score is 730+, Reserves are plenty, and DTI is well within range (...
Yvonne Wang
Financing options for a BRRRR + STR?
What are my financing options if I want to do a BRRRR + STR? I prefer to use conventional loan over DSCR for the refi due to lower rates and no prepayment penalty. Specifically:
1. Do I have to purchase the house ...
Alex Schumer
Bookkeeper v. Accountant
I have a macro level of what each skill does but should I have an accountant and a bookkeeper on my team or if I hire an accountant will they come with a bookkeeper.Which one or both should I look to hire?
William D Schablowsky
TIC Deed between spouses after one does 1031 Exchange
My wife and I are looking to purchase property (vacant land). We are looking at purchasing 80% of the property by doing a 1031 Exchange by selling another parcel of vacant land. We have a buyer for the property we a...
David Smith
Union city/Weehawken vs. Jersey City areas
From listings, it seems properties now in Union city/Weehawken are increasing faster than those in Jersey City areas. How do you feel?For JC, anyone comment on the potential and current prices for multifamilies in B...
Dustin Cornell
An unusual request from my tenant
A tenant of mine has an out-of-town “friend” that regularly visits him. Earlier this week, they (tenant and friend) told me that her parents would be in the area for a few days. They then asked if it would be ok for t...
John Vietmeyer
Expenses invoiced under $2500
Can a property improvement under $2500 be written off in the year it occurs, even if the expense happens before a renter is put into the property?In the old tax system, my understanding was that home repair expenses c...
Sheena Varghese
Converting Garage to 4th unit on a Triplex
Hello,I bought a triplex few months ago. The main house has two units and then there a detached garage with a unit above. The garage is large and is currently divided into two sections. I wanted to convert the gara...