All Forum Posts by: Josh Bowser

@Marcus - are you local to Newnan which is why you're looking at this one? Saw it went UC. 

If you're numbers are close to actuals, I think it looks like a pretty solid deal. 

Haven't been there, but pay attention to the foundation - if the floors are level there no action needed. See it a lot in these older homes where things are unlevel and outright wonky. Your end buyer WILL care about it.

Marcus - do you have the deal under contract? If so, feel free to throw it on here and we can pick it apart.

Pay attention to days on market and ARVs in the immediate area / neighborhood. Do not bank on setting a new neighborhood record on $ / sqft - be conservative in your numbers.

What's up man!

Specifically on the house hack - I'm not sure if the juice will be worth the squeeze from a tax and accounting perspective to run anything through an LLC. Also, I don't know if it would be worth it from a liability perspective either, but would advise to chat with an insurance pro/legal pro.

When purchasing a primary residence, conventional loan guidelines will require you to take down the property in your personal name.

When it comes to taxes, you'll likely be able to take the standard deduction AND itemize Interest, Taxes, Insurance, Depreciation, and expenses prorated based off the rented portion of the property when reporting the 1040 along with W2 income. Personally, this strategy put $4kish directly in my pocket / year when we we're house hacking. As long as you keep track of everything and report correctly you should be good to go.

I'm always in the camp to Keep It Simple Stupid when it comes to running stuff through LLCs until you hit a certain critical mass of assets and/or income.

Hope this helps!

Left you a message!

Richard - great position to be in! As you mentioned, it might be difficult timing the sales of each of properties where you can achieve a combined exchange (multiple properties into 1 property / or a few properties).

Just a quick note that may be helpful - I work with a group of investors that can help with a combined exchange into a single property and will buy it back once you've found a replacement propertie(s) as the final destination for your capital. Downside is you likely need to be asset class and location agnostic. Upside is you get to defer your taxes and earn a yield in the meantime. The structure for this is a discounted sale, lease back, buy back.

One of the partners is a qualified intermediary as well that understands the plumbing behind it to make it 1031 compliant.

If you have any questions on that - feel free to give me a buzz. Contact info in bio!

Jacqueline - welcome to BP! Great place to learn and connect with like minded individuals. Please let me know if I can be a resource for you!

Keith - I'd love to connect with you. I'll shoot you a PM

MyRentSource or Perimeter - shoot me a pm and can make intros!

Hey Alexis - generally speaking, Sandy Springs is a great area to own real estate. Prices there tend to be fairly high so make sure the financials make sense to you.

If you're going the townhome route, make sure you fully understand the rules and regulations of that particular community. Most HOAs do allow rentals but you may need to obtain a rental permit or adhear to certain lease provisions.

Feel free to PM me if you have any questions - would be happy to chat / give guidance

Hey Jose - please shoot me a PM. Have a guy I know that is active in the Rome market and his off market deal flow is pretty solid - can connect you!