All Forum Posts by: Elle Bindra

Thanks John!  This is helpful.

I recently had a big surprise (and bill!) when my sewer line had to be replaced on a rental property and I found out that it was not covered under my insurance policy.  Seemed everyone was in the know except me that I needed to have an underground utility line endorsement on my landlord policy.  As I get quotes from insurance agents in the Syracuse area I am realizing that not all companies offer this coverage.  Just wondering if others in the Syracuse area have encountered this problem and what they have been doing?

Hello Bigger Pockets community,

Need some advice/recommendation.

I am about to undertake two rehab projects - first one would be an Airbnb rental and the other would have annual residential leases.

Both properties have varying degrees of work but will need: new roof(s), front- and back-porches, remodeled and refaced kitchens and bathrooms, new floors, plumbing, HVAC , etc.

Questions:

1. I am told that we could use Section 179 to deduct some of the expenses from the Airbnb property so long as we don't create a loss
2. I have a peripheral understanding of Bonus Depreciation - but looking for guidance on how this would work and what would both of these properties qualify for the deduction and at what amortization schedule [year 1 or longer]?

Thank you much for your advice and introductions in advance.

@Robin Casper @Kata Walters

Adding you both to my prior post as it didn’t work the first time.

@Danté Belmonte @Bryan Cavellier @Kata Walters @Robin Casper

I am currently living in NYC but focusing on investing in Syracuse. Wondering how each of you get your leads? Being remote I am finding it challenging to find opportunities that make sense.

@Kata Walters Hi Kata! Would live to connect with you!

Hi Bryan!  Yes, I would love to connect and discuss our experiences.

Hi Dante,

Yes, I currently own a 4 flex and a 2 family. Looking for more buy & holds to build out my portfolio and also fix & flips. Preferably off MLS.

Looking to network with other real estate investors in Syracuse for trading investment advice and opportunities.

Hello, 

I'm a newbie investor and have recently acquired a 4-unit multi-family property in Syracuse, NY. We paid cash for the property and are looking to take out a mortgage on it. The property is titled in an LLC that my husband and I own.

We were initially told that the property would be eligible for a residential mortgage and didnt need to be held in an individual's name. Since acquiring it, however, we arent able to get the bank to move on this - hence reaching out to the BP community looking for guidance and some local bank contacts that folks have worked with in the past. 

Thank you for your input and time in advance. 

Elle