All Forum Posts by: Paw Nouri
Paw Nouri has started 0 posts and replied 15 times.
Post: Do I accept a Housing Voucher?
- Posts 15
- Votes 8
Yes, always accept S8 tenants. They’ve been the best imo. Their rent is subsidized AND if they damage your property the city/state will cover repairs. It’s a nice win-win.
Post: STR for tax-loss harvesting and help to find STR out of CA state
- Posts 15
- Votes 8
Speak with your CPA and tax attorney.
I say this because STR tax harvesting is fine for your 1099 income as it's pass through. However, using STR in an attempt to qualify for crossing real estate investment expenses and depreciation over to your W2 income triggers audits. Some get away with it, some don't.
It’s not just hours you have to qualify by. You have to do it FULL-TIME. Meaning if you have a FT W2 job AND 1099 side work AND real estate, they already know you’re not a full time real estate professional IN THE CASE YOU GET AUDITED. if you don’t, then all is well.
Unless your spouse is a FT realtor and actually putting in the time, then I would tread cautiously and speak with your CPA. STR tax harvesting is lucrative.. but be careful.
Post: any permits I need to pull when doing a fix and flip?
- Posts 15
- Votes 8
Quote from @Arshiya Taami:
Quote from @Paw Nouri:
No, you won't need permits for cosmetic repairs. If you start going into electrical, plumbing, cutting in for new doors, roofing, HVAC, etc. then you would potentially need to pull permits. Also, pulling permits is up to you..
Thanks! are you in the california region? just making sure because every state is different.
Welcome and yep, we have units in SoCal, and Ohio
Post: Cash for Keys during LURA decontrol period
- Posts 15
- Votes 8
You need to speak with an attorney. Cash for keys is more of an agreement outside of the actual lease terms and isn't something that would fall under civil law. I'd expect it to fall under common law if ever challenged.
Post: any permits I need to pull when doing a fix and flip?
- Posts 15
- Votes 8
No, you won't need permits for cosmetic repairs. If you start going into electrical, plumbing, cutting in for new doors, roofing, HVAC, etc. then you would potentially need to pull permits. Also, pulling permits is up to you..