All Forum Posts by: Edward Synicky

Absolutely @Eric Fox and @Paul Diaz. While I think the greatest purchases in Phoenix was a year or so ago I am still a big believer in that market and think it will continue to appreciate but at a more "normal" rate. I would purchase there today given the right home in the right place. Goodyear is my favorite city but many others work. Good luck to the both of you.

Eric, if I get back into the Phoenix market we will definitely talk.

Absolutely, I have a number of homes in the Phoenix area purchased in 2010-2012, found a Realtor that is very investor friendly Lavona Buttrum, [REMOVED]. I use RPM, a national franchise for property management, they have good systems, call Katie at [REMOVED]. As with everything this is just part of your due diligence, lots of options in the Phoenix area but I have found these work for me.

@Ned Carey and @Jose Lira, I can certainly share with you on your questions on solo401K plans, I am a long time real estate investor and love the idea of using retirement plans for investing. Due your due diligence before you leap, I use check book control which is more streamlined and less expensive over time. I'm here to help and will share my experiences.

Wayne my friend, thanks for the info, that makes sense

Along these lines does anyone have a feel for which lenders are more aggressive than maybe others. How often is a deficiency judgement actually pursued after a short sale? Is it possilbe to get the lender to waive their right to chase after your other assets as a function of the short sale process and agreement?

I could not agree with Craig more. In 40 years of renting investment property I have collected on one tenant that skipped. It must just be a business decision, do you want to spend your time and money with little hope to recover anything. There is a case to be made for affecting the tenant credit for the next landlord to view, but that should be looked on as just the right thing to do, collecting after a judgement is doubtful at best.

Not an accountant so always check with a professional. However depreciation is not related to net rental income. Depreciation is the cost of the investment minus the land cost. Then for residential property you divide that amount by 27.5 and deduct it every year. Depreciation will first off set any positive cash flow making that cash flow not taxable income. After that if your GSI is under 100K you can further deduct an amount up to 25K from your W2 salary. If you make over 100K the 25K goess away incrementally and is gone when you have 150K. And yes depreciation is recaptured on the sell of the property, easily avoided by doing a 1031 exchange. Hope that is not too confusing.