All Forum Posts by: Mohammad Ali

Hello CPA's @ Bigger Pockets,

If I acquire a property through a quit claim deed as an investment property with the intent to rent it out, can i depreciate this property? IF so, what value will I use?

Regards

Mali

Hello,

Below is my situation and wanted to get this community's thoughts on what would be the best approach.

Current Situation

I just bought a townhome on my name at a good discount, thinking about putting it under my LLC. I am having a challenge getting a good rent so thinking about selling it with the intent to get another property suited for rental.

Taxes

If i were to sell it under my LLC, do i have to pay short term gains if i sell it for a profit? Can I acquire another property from the proceeds of the townhome? Can I do 1031 exchange?

@John Casmon,

Is the meetup also through Hangouts?

@Hadar Orkibi,

Thanks for sharing the info. I agree with you and that's what I am trying to do. I am trying to find a market that's investor friendly. Where do you find these data points you mentioned? census.gov?

Really appreciate your help.

@Jason Marcordes,

I checked the site out. When I looked at U.S. Population Growth Rate State Rank, it doesn't tell me how old is the data. Would you happen to know? I am thinking it still reflects the 2010 census data?

@Jason Marcordes,

www.usa.com has data from the 2010-2014 survey results. It's a lagging indicator but I suppose that's the best we have since population doesn't change much, correct?

@Nicholas O'Hara I suggest you find a local broker and specify your specifications. Leverage other people for faster results.

Hello friends,

I am out of Chicago and looking to invest in a multi family 5+ units.

The Chicago market is pretty expensive as well as with the taxes sky rocketing, I feel that there are other markets that are more investor friendly.

Please let me know your thoughts in the below.

- How would you find MSA (metropolitan statistical area) on markets that I am interested in? Say a city in Texas or Florida?