All Forum Posts by: Amy Turnbull

The market in Pittsfield is slim to none! 

Let me rephrase my original response: I am a bit player! Thanks for throwing me a crumb! I have limited resources and am in the "C" market. Inventory is super low so I would be interested in seeing what you have!

I'm playing.

Why a commercial loan and not a conventional loan? Just curious.

This sounds like a buy and hold so anything you make on rent in the meantime is fluff. I first bought an SFR: rent $1,600/mortage $1,100. Sold that and bought a duplex: rents $1,600/mortgage $800. Now I'm looking at another multi: rents $1,600 (I'm not making this up, seriously!)/mortgage $600. If you anticipate a long game, negligible rents shouldn't be a problem but just keep rolling those funds into your reserve account for repairs that are bound to happen. Good luck!

Thanks for replying. I bought another house. Next year I'll find an accountant with more experience in real estate!

I paid state tax in California. I'm not sure what percentage. 

I will continue to research this, going forward.

Update: I did not claim the income in Massachusetts as per the advice of my tax preparer.

Thank you, Will. Good advice!

Thank you, Howard! Now I'm wondering if I should have paid taxes on the rental income! I will definitely check into this going forward with my new duplex! Appreciate you and others taking the time to weigh in!