All Forum Posts by: Ivan Roberts

I own two single family homes. One is AZ and one in WA. Assets or Liabilities?

Oh cool! Thanks Tamara

Thanks Tanya,

I just googled it and was floored! There was a ton of cool ideas! I have nothing but time, so I might as well get into something!

Great ideas Lynn. The wife and I were just discussing our financing and we have a separate spread sheet of our projected goal amount of 65K by October 2014. We are thinking of getting a Duplex via FHA (If available) and buying a fourplex with a conventional loan, 20% down. Hopefully rent it all out, gather that passive income, and sit for a year. Eventually, getting another fourplex with the passive income and fully renting that one out for another year. I see this as a sound proof strategy, but then again, I am new to the RE game, and I know there is another way to really maximize my portfolio.

And I am using BP to get me there.

You guys are great with the vast amounts of information
That y'all are willing to share with me.

Hey Kyle,

I'm not exactly sure what she charges, but yes, I figured she would just deduct the portion of the PM fees off her rent.

Great points Michael. Never considered that. I'm not too familiar with her PM company, and all I know is that they have been amazing tenants, and they have never been late on a payment. I trust her that she would be legit, because it is the house she is living in. I was just unaware of it were legal or not.

Hey guys,

I was curious about one thing. Can I hire a property manager to manage my house, even if she is renting the house at the same time?

I am renting to a couple in AZ, and she is a PM, can I save the hassle of finding an outside source, or can I just hire her to manage it?

Thanks

I meant "Thanks for the book idea"

That's for the book idea! I'm going to have to look into that.

And thanks for the advice Romica, I did look into buying a duplex in my area, and because I already used my VA and my wife used her VA, I don't think I will qualify for another loan. The apartment that you are referring to is the one that I am going to rent, instead of paying my mortgage payment. I would save over a grand a month this way.

Hey guys,

Does anyone know if I would receive any tax breaks for hiring a Property Manager in either Washington, or Arizona?