All Forum Posts by: Andrey Y.

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)

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. 

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. 

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  

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

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.

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.