All Forum Posts by: Angel R.

Hi Lucas! I tried searching but it seems to be down at the moment which is why I figured I'd ask. I'd definitely prefer to not be subject to SE tax if possible but wanted to make sure I do it right since this is my first return with STRs. 

@Angel R.  While I don't know squat about Hazleton, and I would listen to Calvin's perspective, but maybe your sisters would Property Manage for you?  Throw them some money, everyone one is a winner. 

With that said, treat it like a business.  Write everything down in a contract, make sure neither side has any unstated assumptions.  Working with family can be hazardous to relations, especially if you are not 100% aligned or folks gravitate to the emotional side.

I would also ask to see detailed numbers on your sister's property. You want to make sure she isn't embellishing the situation.  "Trust, but verify" -Reagan (although Brandon Turner might have appropriated it!)

Lastly, maybe your sisters are looking for a new property; you could partner with them.  You be the money (or part of), they would be the day-to-day.

Just some other ideas to consider.  Best of luck in your hunt.

Joe
 

Thanks for the answer.  If I were in your situation, I'd move down to Florida and house hack.  Better weather, you can be in markets that are showing population growth (which should turn into appreciation), and you'll be in a no income tax state, which will make your take home pay greater. Just my two cents.  Good luck!

I used to live in queens... i couldn't buy houses in NY ( unless i was upstate), so i bought some out of state.. in particular TX, Dallas, as I had family members there to help me out. Plus Texas is a more friendly state in terms of REI.

Now i quit my job and moved here.. cause financially it makes sense and easier to do REI.