All Forum Posts by: Nelson Del Castillo

 @Steven Hamilton II @Blake Meester I did not realize how complex taxes got when you own a home, this is my first time owning and automated tax systems like turbo tax do not walk you through this part, thank god I haven't filed yet. I will be looking to speak to tax professional to get things done correctly.

@Blake Meester the moneys go right  back into the house for mortgage payment and expenses. I end up paying money out of pocket for utilities, so Its a negative cash flow do I have to add this to my taxes in this way? 

@crhis M. thanks so much for the info, tons of knowledge, im still putting it all together.

Hello all, I own and live in a legal 2 family home with an in law apartment. I receive a total of $2370 in rental income a month. If I add this rental income to my tax return will it be counted as income when applying for a conventional mortgage? Thanks in advance any input is appreciated.

Hi Jacqueline Carrington I will be there.. I look forward to meeting you all.

Ronald Logan the only thing I would add is pick a market and learn it, look at it to the point you know every house that's listed in your market pretty much by heart (not literally but literally learn it well). Become an expert in that area, the person people go to whenever that market is mentioned. And this way you will know what a good deal looks like and will identify the good apples from the bad.

Hi Everyone, does anyone know what the average vacancy rate is in the North End of Bridgeport CT?

@Account Closed good point I'm just concerned that if I focus on one small market than I wont be able to find a deal. I guess to Joey point, I need to explore different markets. 

I'm looking for a distressed multi family homes that I can rehab to build equity and than hold as a rental for cash flow. My question is do I focus on learning a specific market first and than try finding a deal in that market, Or do I focus on finding a deal in a broader area of different markets and than learn the market after I find the deal. What do I prioritize. I'm afraid that if I focus only on one small market I might than not be able to find a deal in that specific market. Any help is appreciated.

Fernando Asencio