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All Forum Posts by: Andrew Pettit

Andrew Pettit has started 42 posts and replied 89 times.

Post: Real Estate Agent Prep Courses

Andrew Pettit
Posted
  • Rental Property Investor
  • Rhode Island
  • Posts 100
  • Votes 19

Evening BP,    

            I am studying for my Virginia Real Estate exam and I was wonder how good is prep agent.com? I have already done all the CE SHOP through Long & Foster but, I still not feeling like I am ready to take the exam, any tips? 

Thanks.
 

Post: Stock Reinvestment Question/Tax Question

Andrew Pettit
Posted
  • Rental Property Investor
  • Rhode Island
  • Posts 100
  • Votes 19

Thanks for the advice Mr. Plaks.

Post: Stock Reinvestment Question/Tax Question

Andrew Pettit
Posted
  • Rental Property Investor
  • Rhode Island
  • Posts 100
  • Votes 19

Thanks for the advice gents. 

Post: Stock Reinvestment Question/Tax Question

Andrew Pettit
Posted
  • Rental Property Investor
  • Rhode Island
  • Posts 100
  • Votes 19

Afternoon BP,

        I was just wondering when I sell a stock if I immediately reinvest it would that spare me of paying any capital gains? 

Thanks, Andrew 

Post: Active Military Tax Question

Andrew Pettit
Posted
  • Rental Property Investor
  • Rhode Island
  • Posts 100
  • Votes 19

Morning BP,

           For the 2020 tax year as an active-duty military can I deduct my gas if I am driving to a location that is not my normal work office? I found out that active duty cannot deduct haircuts anymore. 

Thanks

Post: Active Military Tax Question

Andrew Pettit
Posted
  • Rental Property Investor
  • Rhode Island
  • Posts 100
  • Votes 19

Morning BP,

           For the 2020 tax year as an active-duty military can I deduct my gas if I am driving to a location that is not my normal work office? I found out that active duty cannot deduct haircuts anymore. 

Thanks

Post: Issues With LLC, I need further explanation from experts.

Andrew Pettit
Posted
  • Rental Property Investor
  • Rhode Island
  • Posts 100
  • Votes 19

Evening BP,

I was wondering if I can restructure my LLC after I filed it with the secretary of state within RI. I just have more questions after the fact, if the LLC is "Inside and Outside" protected and making my property the manager-managed. So, I can protect my assets from anyone who wants to possibly sue in the future. I just want to point out that I am doing this in order to protect myself from the worst-case scenario.

Thanks. 

Post: Should I Refi muti-family?

Andrew Pettit
Posted
  • Rental Property Investor
  • Rhode Island
  • Posts 100
  • Votes 19

Hey Brock & Ryan,

         I have the original loan through Chase bank since 2007 and was thinking of going to another local bank back home that I have a good relationship with. Taking out a 30 yr mortgage I am just trying to increase cash flow this way.

Post: Should I Refi muti-family?

Andrew Pettit
Posted
  • Rental Property Investor
  • Rhode Island
  • Posts 100
  • Votes 19

Evening Everyone,

         I was wondering if it is smart and if anyone has ever refinanced a rental property mortgage with another bank into a 30yr mortgage? I own $258,000 and the property is worth $450,000, what do you think? 

Thanks Andrew

Post: Active Duty Marine Looking to Getting My RE License

Andrew Pettit
Posted
  • Rental Property Investor
  • Rhode Island
  • Posts 100
  • Votes 19

When it comes to my active duty career I am stationed right now in Quantico and will not be leaving for at least two years. And the unit that I am in is non-deployable and the other than travel I am always home on weekends and maybe might be gone for a couple of days out of the week. 

I really want to dive in now and get the experience in the industry even if it just covers my rent or about I will be happy. Like you said Jonathan I am not going to be strapped for cash when I start because I still have a good-paying day job so, I will not be desperate for a sale. Thanks for everyone's input.