All Forum Posts by: Andrew Pettit

Afternoon, 

           I am looking to tap into my rental property equity. I have been told that a HELO is not possible with rental properties, is this true? And what is the best path forward? Thanks. 

~Andrew   

Hey Ray, I am providing spreadsheets from Stessa in an organized manner. 

Morning,

            My current accountant charges me $725 to do my taxes for my three properties. Is that normal? Or should I go somewhere else?

Thanks. 

Hello,

Can I deduct interest paid on an Etrade brokerage LOC used for a down payment on an owner-occupied home?

Thanks

Andrew

Evening,

            Can my parents deduct major improvements that were made on their owner-occupied property? Their AGI is $82,000 on tax YR 2022.

Good morning, 

                I took out a personal loan for RE investing in order to bridge the gap in the acquisition and then I am going to cash out refi. Can I write off the interest on the personal loan and will the bank frown on me using a personal loan when I go to cash out refi? 

Thanks,

Andrew

Thanks, Ken & Garrett for your advice. Also, I will be able to deduct any interest paid to them from my taxes correct? 

Morning,

I am looking to borrow money from my parents and was wondering what contractual considerations I should consider moving forward.

Thanks

Afternoon, 

             I am looking to borrow money from my parents and was wondering what contractual considerations I should consider moving forward. 

Thanks
 
             

Evening BP,

I was just wondering If at all possible house hacking was even possible in VA? Specially, Northern Spotslyivania & Fredericksburg? I am looking to retire from the Marines in about a year and a half and settle in the area.

Thanks.