All Forum Posts by: John Kim

Yeah, I've already purchased the property.

I recently purchased my first investment, a short sale that has a good amount of necessary deferred maintenance.

• The heating system was cobbled together by a hack and needs to be completely replaced in the next few years. ($25,000)
• The roof is about 20 yrs old and is leaky  ($8000)
• The cement driveway and parking lot is in bad shape  ($10000)

After taking out $500/month for miscellaneous maintenance costs, my monthly net is about $1500.

Going forward, what are some of the best ways to finance these projects?

If you value your time, buy a new one.

Penny pinching on craigslist is time consuming.

What is wholesailing?

These limits only apply for businesses whose owners have individual income exceeding $157,500 or joint filer income of $315,000.

Does this mean that the wage limitations do not apply to people making under $315K?

So if someone is making $200k in passive income with $0 wages....he qualifies for a 20% x $200,000 = $40K deduction?

>Now, the 20% deduction is capped at either 50% of wages or 25% of wages plus 2.5% of capital assets, whichever is greater.

So lets say the pass thru income is $100K and the wages are $5K

What would be the max deduction allowed?

I purchased my multifamily with an FHA loan. It came with unexpected headaches during the FHA appraisal.

One of the units required a stove replacement

I had to paint over any peeling paint (due to lead risk). In my situation, there were over 30 exterior windows with cracked paint.

In addition, this was a short sale purchase.  In retrospect, it is a small miracle that this purchase went thru!

Hudson county has been solid. 

@DDill

21% corporate tax rate applies to C corps.

LLC/S-corps are pass thru entities and come with a 20% deduction, with a limit based on your wages.