All Forum Posts by: Anita Parsa

I've been doing a lot of financial analysis on SFH and small multifamily, learning areas, schools, rental rates, etc.

As I was researching neighborhoods to prepare myself for REI, I found a listing on RealtyTrac in a neighborhood I know well that looks intriguing. I know nothing about how the foreclosure market works but this seems like a good time to get to know the process

Can anyone point me to good resources (blogs, books, podcasts, whatever) for how to jump start my learning?

Dan, thanks for your post.  Regarding the idea of becoming an agent, I did explore that but the tax code says I couldn't count any hours as an agent unless I'm more than 5% owner.  Am I missing a loophole?

I will message you about local opportunities!

Anita

Lee, thanks for your response.  I'm looking for a new CPA as our previous one does not specialize in RE, and am hoping the new one can advise me on achieving the REP status. 

Do you mind listing the types of activities that you include in your 750?  The IRS publications (and pretty much every blog post or article I've found) is quite vague on this.  I'm planning to use professional property management so I'm having trouble imagining what I'd spend 750 hours on to achieve this status.  

With my vacation rentals, I spend time booking a reservation, advertising it, processing payment, sending reservation to client, doing the books, etc. 

With rentals, I can't count time researching new properties.  Property manager would hopefully be doing the vetting of renters, advertising, payment, repair mgmt, etc.  I can imagine I'd be painting & doing various small repairs myself between renters, and also bookkeeping for my rental properties.  Any blanks you can fill in would be great.

Thanks,

Anita
 

Thanks, Steve!  It looks like I can't make the next one but I will try to make the December one.

Anita
 

Thanks for the Meet Up link.  I found a bunch of options through the MeetUp website (via google search) but a lot of them looked scammy :)

Thanks for saying hi!

Hi, Bigger Pockets :)

My name is Anita and I live on the Kansas side in the KC metro area.

I am in the early stages of researching real estate investing.  I currently have a very small vacation rental business and my husband works full time.  He's hoping to retire in 5-7 years.

My plan is use some of our retirement savings (combined with leverage) to invest in real estate to supplement our retirement income.  

I'm interested in learning a lot more about tax impact of RE investments.  I'd especially love to hear from anyone who claims Real Estate Professional status on taxes.  I've read the relevant IRS forms but would love more real-world insights.  Depending on what activities count, I may have 150-250 hours per year already from my vacation rental business; I have the time & motivation to achieve this status but need to learn a lot more. 

Another question I have for anyone who has relevant experience is how to switch from a mostly appreciation based strategy to a cash flow based one. For the next 5-7 years until my husband retires, I am mostly focused on appreciation and gaining experience rather than cash flow, but after my husband retires the goal will be cash flow. Ideally I would have started 15 or 25 years ago and would be paying off mortgages around the time of retirement, but I didn't. I'm planning to start with an appreciation-focused SFH to begin getting experience & mitigate risk, then add deals that emphasize cash flow as I learn more.

Also, if anyone in the Kansas City area has recommendations for Real Estate Investing clubs or groups, I'd appreciate any referrals! 

Anita

Hi, Chris.   I am also from the Kansas City area (KS side) and looking to start my real estate investing portfolio.