All Forum Posts by: My Nguyen

Hello fellow investors,

I'm currently house hacking, renting out my basement (around 740 sqft). Can I claim depreciation on this property since it is my primary residence? I bought this house in August 2022, only live here for 6 months.

Thank you in advance for your input!

Thank you sir for the quick response. I really appreciate it. 

 Thank you so much for your response. So if my basement is about 750 sq ft, I cannot claim that amount on my depreciation, correct?

Hello fellow house hackers!

This is more of a tax savvy question.

I have my primary residence and currently renting out my studio basement. Can I deduct all the expenses (materials from Home Depot) from fixing and upgrade my basement for my tenant? Also, am able to I claim full depreciation on my tax return?

Thank you in advance for your input!

@Eliott Elias

I really hope so. Maybe I can refi if it goes down at that rate.

@Anastasia G.

Hi Anastasia,

Thank you so much for taking your time to answer my thread. Can you please DM me your information? Maybe I can reach out to have a second opinion or for my future loan.

Hello Fellow Investors,

Is 6.125% for 30 year fixed mortgage rate too expensive for primary residence right now? We have to put down 50% down payment in order for the DTI to be below 50. My husband and I are self employed so it is so hard for us to get a loan. We got denied by credit union bank, all they told us was insufficient fund.

Since we locked in the interest rate. Is there a way to adjust the rate at this point?

Thank you for your input.

@Rick Albert great advices. Thank you so much!

@Wale Lawal Wow, very insightful. Thank you for all the knowledge you provided.

@Steven Wilson very helpful resources. Thank you for your time!