Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
Followed Discussions Followed Categories Followed People Followed Locations
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Andrey Y.

Andrey Y. has started 114 posts and replied 1826 times.

Post: You have 6 months to liquidate your assets

Andrey Y.Posted
  • Specialist
  • Honolulu, HI
  • Posts 1,887
  • Votes 1,264

Have you not been paying attention?

The Treasury has just printed $6T. Housing prices and rents are going to go up. It's called inflation. Even if some areas get a temporary 10-15% pullback, people will still need a place to live. They will either pay rent, or the government will pay it for them. (See the $4000/mo. people are being paid to sit at home)

Post: JWB real estate Capitol

Andrey Y.Posted
  • Specialist
  • Honolulu, HI
  • Posts 1,887
  • Votes 1,264
Originally posted by @Rodney Watson:

Thank you guys for the input. I am from queens NYC. I am a city employee with NYC MTA for the past 19 yrs. I retire in 2021. Six yrs from now. I am also in the Air Force reserves (currently deployed in the Middle East... Will be home Feb 2016) I retire from the military in 2018. Three yrs from now. I am about to engage in an aggressive REI endeavor.

I am a newlywed of 2 1/2 yrs. this is my 2nd marriage. My wife doesn't have children so I will be starting over raising a 2nd family... Just as I am about to retire... :-) My goal is income replacement. If I can amass $4500 net monthly passive income, I would be elated...!!!

I say all of that to say thank you @Charlie Fitzgerald, @Attila Vad, @Maxwell Lee, @Mocellie Bitting, and @Chad U.. I look forward to future communications with you and God willing we have the opportunity to prosper from what we bring to the table. 

Anyone have info on JAXREIA or JAXREIM? 

Until next time good luck and happy investing.  

Rodney (the newbie... but not for long)

 Rodney and others, care to update their experience with JWB into 2020?

Rodney did you end up pulling the trigger. Did anyone else add to their JWB Portfolio? Thank all for commenting.

Post: JWB Real Estate Cpital

Andrey Y.Posted
  • Specialist
  • Honolulu, HI
  • Posts 1,887
  • Votes 1,264
Originally posted by @Pam Lehr:

My experience has been everything I expected.  House was renovated, with tenant with at least a 2 year lease, management team handles any issues, monthly rent and reports on time each month. 

 Pam, any update for us for 2020?

Post: JWB opinion or experience

Andrey Y.Posted
  • Specialist
  • Honolulu, HI
  • Posts 1,887
  • Votes 1,264
Originally posted by @Rebecca K.:

Run away. Run away as fast as you can. Tenants moved out during lease and rental was vacant for three months. Also, they way undervalued my real estate taxes, and now, the rent just barely covers my mortgage. With a turnkey company, you should be collecting rent money as soon as you own the home, you don't with JWB. I am using Saint John's Properties and Lenger Financials. Much happier. 

 Does Rebecca or anyone else care to update their experience with JWB into 2020?

Post: Syndication Investing During a Recession

Andrey Y.Posted
  • Specialist
  • Honolulu, HI
  • Posts 1,887
  • Votes 1,264
Originally posted by @Anthony Woods:

Oh my post got cut off. But if you are waiting for the bottom to fall out of multifamily housing, it isn't. with 4.6 million unit shortage and 90 million millennials entering the rental market and Gen Z right behind them. Banks tightening lending lends to the pool of renters  

 Bingo! Well said.

By the way, I like the name of your town.

Post: $10,000 SBA Loan / Grant

Andrey Y.Posted
  • Specialist
  • Honolulu, HI
  • Posts 1,887
  • Votes 1,264

Applied: 4/2

$1000 Funded: 4/28

No follow up calls, emails, nothing. I guess no loan?

Post: QBI deductions - Tax considerations for K-1 syndication investors

Andrey Y.Posted
  • Specialist
  • Honolulu, HI
  • Posts 1,887
  • Votes 1,264
Originally posted by @Ivan Barratt:

@Andrey Y. glad to hear you are getting a CPA my friend! lol

 About time, huh?

I actually enjoyed getting up on new tax laws and even doing my taxes. Now, it just got too long!

Post: What is a small win you had in real estate investing this week?

Andrey Y.Posted
  • Specialist
  • Honolulu, HI
  • Posts 1,887
  • Votes 1,264
Originally posted by @Gary L Wallman:

Listed two SFR's for rent. Rented them both in 48 hours with 15 apps on each to chose from with a 5% increase in rents on each.

 Ya better believe that if congress passes any of these $1000 or $2000 per month of free money to everyone bills.. my asking rents are going up $500 immediately. Printing more money in circulation (especially with zero production to support it) is the definition of inflation.

Post: What is a small win you had in real estate investing this week?

Andrey Y.Posted
  • Specialist
  • Honolulu, HI
  • Posts 1,887
  • Votes 1,264

A lagging tenant made a partial payment for May. I am not super stressed about late payments and I am giving my tenants discounts for paying early. But that was a nice win this week. Rest are all caught up.

I'm getting too old for the landlording game (and I'm in my 30s!). Although, that tax-deductible /business trip/ to Hawaii wouldn't be possible if I sell all my rentals there. Decisions.. decisions..

Post: QBI deductions - Tax considerations for K-1 syndication investors

Andrey Y.Posted
  • Specialist
  • Honolulu, HI
  • Posts 1,887
  • Votes 1,264
Originally posted by @Kory Reynolds:
Originally posted by @Andrey Y.:
Originally posted by @Kory Reynolds:

If I am understanding you correctly, at least several k-1s have multiple trades or businesses for QBI reporting.

Yes, technically you should report each of these columns of these separately. QBI is not something you elect in or out of, or volunteer not to report. There is an incredible volume of rules that will impact QBI reporting as it relates to losses, loss carryforwards, how they net against each other, what happens when losses are released. Then also depending on your income level you have the W-2 wage and UBIAQP limitations to contend with. Every one of these should be considered at a separate trade or business level.

If you decide the disregard the QBI reporting all together because you don't want to contend with the software you will either be throwing out a deduction of up to 20% of the income the activity is throwing off, or you'll be messing up your QBI loss reporting by not having the proper carryforwards and end up claiming too much of a QBI deduction in future years.

 Thanks for the helpful reply. Kinda weird that for 2018 taxes I had 7-8 K-1 partnerships and the QBI with multiple columns thing didn't happen.

I just don't know if it would be better to pursue the software and wait on the phone for the H&R reps, or just find a CPA to do taxes (both of which would probably take a long time) as I would need to send all my Excel spreadsheets with my individual rentals, depreciation schedules, etc.

I was looking for a CPA that could do my taxes (single filer no LLCs), and provide periodic tax strategy to me throughout the year to save me on taxes.. for about $1000-2000 per year. Is there a firm like this? Much appreciate the feedback.

I am biased, but I think often enough when someone has a number of ongoings with flow through or rentals  they will benefit from a CPA. Not always in that it will be less overall cost, though often savings will be found, but also with peace of mind that everything is done correctly.

Exactly what Greg noted for QBI - while these rules were plainly in place for 2018 (for all my syndicates this was all disclosed in a split out manner for both years), the IRS came out with an exact format they want everyone to follow for 2019 forward.

The price range you quote is certainly not unreasonable, often to provide an accurate quote a CPA would like to see a copy of your prior year returns - it is not uncommon that there are technical issues you are not aware of that need to be considered. But based on the limited disclosure here, it seems likely you would fall in that price range with the firm I am at, along with a high number of others. Some of the things that would impact would be number of rentals, record keeping on those, property sales, potentially Qualified Opportunity Zone reporting requirements if you have taken advantage of that, multiple states, and it goes on.

 Well, I have my prior year returns in hand, I am eagerly on the lookout for a CPA who loves and knows real estate tax, and can strategize how active and passive syndication investing fits together with a W-2 income and how to minimize tax.