All Forum Posts by: Aric W.

@Martin Zavala Is this a house a 2 -4 unit ?Id contact a CPA. If it is a 2-4 unit it gets tricky because the capital gain tax exclusion gets muddy. If it’s a 2 unit you only get half of the exclusion plus partial depreciation recapture. The IRS looks at it like yes you are owner occupied but partially investor depending on how many units. Only listen to advice from a CPA in your home state I always thinks it’s best to cash out refi and keep your money moving and hold onto the asset. If it’s a SFH That your renting rooms that’s a different story, again contact a CPA.

@Pawel Swiecki Are you paying for water or the tenants? If your on the hook for the water, put the shower in with a low flow shower head.

@Martha Michel I have 3 kids, and house hack. Turned a 2bed 1 bath 1000sq ft into a 3bed. It’s all possible just depends on how much you can handle stress wise! The numbers work, but it can be tough dealing with tenants ,and your living with them. Set the rules from day one, and stick by them. What’s the old saying? Give them an inch ,and they take 100,000 miles!

@Beth Cannon I use COREtec plus LVP Love them in my rentals, highly recommend.

Good luck! Very hard to find good ones. If your new and only have a few units you will be at the bottom of the barrel. Try to find a newer PM who doesnt have too many doors. In my opinion some of the ones who have had a good REP at one time maybe cant do a good job anymore after they have X amount of doors. Think about it,you can only manage so many doors,the clients that have 10 and up units get special treatment,if your just starting out will be tough.Good PMs out there but you will have to go through trial and error.

Im In NYC, Investing in the Cleveland area.

Reach out to @Erin Legler, she was amazing to work with, Ill be using her for my next deal.

Good luck!

Dez

@Prashant Sharma

look into GDH final touch Home remodeling

@Nicole Cotrino, check out @Chris Clothier at Memphis Invest he's been in the game a long time and has good model and very good reputation. Check out MI web site they have a lot of good info about markets. Id also put Dallas in your research bucket, Memphis Invest has operation down there. With Turnkey your paying top dollar for a product,not saying thats bad but thats the product,so you want have time and appreciation so I think with Dallas you'll get that,won't be cash flowing like the Mid West right off the bat ,but over time I think might be a better investment for what your looking for,just another thought to ponder! Good luck on RE journey

Full disclosure Ive never worked with Chris at Memphis Invest, just many years of research,also of course with any investment do your own due diligence.