All Forum Posts by: Flavio Zanetti

@Matt Andrew @gualter I agree it’s all about the cash flow but a simple question I have - and I am sure others here have as well - how is the rental market and how practical it is to find a reputable property management company locally? I have a friend who has over 60 doors in between Fitchburg-Orange area and he prefers there over FR/NB a million times given the likelihood to find good blue collar tenants. I am unfamiliar with both markets - only invest in and around Boston - but er definitely need to start adventuring outside the city as numbers are not making sense anymore here....

Very helpful thread. Thanks guys!

Thanks @Sean T. this has been exactly my experience with these markets and the main reason why I haven't invested there yet.

@Courtney, Do you self manage those properties in Gardner or do you have a Property Manager? Curious as the last time I checked PM’s in the area are so scarce...

@Scott Heinze, also interested for property managers in the Gardner, Fitchburg, Leominster area... 

PM sent... 

Thanks @Charlie MacPherson - already knew that but it is always good to remind Buy and Hold investors of MA resources.

Best regards,

Flavio

Does anyone know the situation in Somerville as compared to Cambridge?

Originally posted by @Jon Crosby:

@Kyle R.  My accountant has always told me it's next to impossible to qualify for any type of 'active' management of your property.  Basically it's impossible to have any other job and claim active status.  But, I will say my accountant is very conservative so I don't want to say it's not possible at all, but I would just double and triple check before using it as part of your strategy.  :)

Best of luck to you!

 This is somewhat true not not entirely... If you are able to prove with substantiation that you spend 750+ hours actively managing your properties then you will qualify for active losses. It becomes easier with the more units one has of course. 

Here is the IRS publication: https://www.irs.gov/pub/irs-pdf/p925.pdf

I am not an accountant so take this with a grain of salt please...

I have a FANTASTIC attorney in Reading if you are still looking for one... Just PM me