All Forum Posts by: Robert Hasty

Looking for any meetups or local groups in Jacksonville Florida area. 

Would love to connect, make some friends and see what's all involved with groups and meetups. 

Quote from @Brett Voorhees:

Hey @Robert Hasty, I know a great agent in that area if you need advise on specifics with that market and those types of houses. Let me know if you would like their info and I can shoot it on over. Best of luck!

 Absolutely, please message me. 

Quote from @Mitch Davidson:

@Robert Hasty: Based on your comments, you seem to be more comfortable having an investment nearby to you in western NC. If the PA home will be a stressor, being so far away and being quite aged, it might make sense to sell it now. What I wouldn't do, however, is bury the proceeds from that sale in a new primary residence. Meaning, I'd put the minimum down on a new primary, and even pay MI, and then put the rest of the money to work in other investments, even though the interest rate will be high for the primary. Perhaps when the next refi window opens, which the lending industry feels will be in 2023, you'll have built some equity in the new primary, at least enough to reduce your MI cost. Two other things to consider. First, LTR doesn't work too well in this region, unless you started doing so long ago. Even when rates were low, it was hard to find an LTR scenario that would cash flow, except for mobile homes and multi-family. So, if you stick to SFH, you'll likely need to consider STR. Second, compared to other regions, we have a very few small multi's available. Happy to discuss more by phone...or in person if you pay a visit. Will message you.

Hi Mitch, 

Actually what I'd like to do is get into a sfh with detached rental and rv site we could rent out to help with mortgage and possibly have a little cash flow. Wondering if we keep the primary as legal rental if using a heloc to buy in N.C would be wise. Still learning. 

Quote from @Kevin Sobilo:

@Robert Hasty, If you keep it to rent would you acquire more rental properties? I often tell people "One of the WORST things in the world is to have just ONE rental unit". That is obviously an overstatement, but I do it to make a point.

When you have 1 unit, things are either good (and you barely even notice) or they are HORRIBLE (and its all you can think about). With even a few units things start to level out where when you have an issue at one unit the others are going well and carrying things.

If you have only 1 unit, you will never become proficient at managing the property or you will have to hire a property manager and learn how to manage them! This raises the changes of having bad experiences.

One thing to consider would be the possibility of changing your wife's primary residence back to that house to make sure she could be exempt from most or all capital gains if you sell. 

 It is still our primary residence, we're not exactly set up correctly legally because of it being family as tenants. Something I'm trying to work on. 

Hello everyone

Sorta new here but have been reading many BP books, watching YT videos etc and learning all I can. I am 1,000% committed. 

Here's my short story and what I need. 

I have a w2, I currently use an excellent well experienced CPA and college professor as my tax guy. However, he didn't seem to want to pursue what I was asking him about last year and could well have been for good reasons. 

My goal is get our rental income included on our taxes so it can help qualify for future loans. He didn't seem like he wanted to get involved with depreciation etc. 

So I'm looking for a new tax professional to fuide me in the right direction this year and to see if my current situation with my w2 and rental income could or should be included this year to help me down the road. 

Residence is in the Pottsville P.a area but our home has been rented to family for the past few years while my wife and live and work from an RV. 

Thanks for any help.

Current situation,

Wife's mother renting Wife's home. I'm not on deed as we met and married after her purchase. 

Mother in law has been renting Wife's recently renovated by us over 100 years old home for past few years. Only enough to cover mortgage and taxes. 

Mother in law has recently been having some health issues and we don't see her lasting much longer in the home. Nursing home likely on the horizon. 

We have a decent amount of equity in the home 3BR 1Bath and the mortgage is 30% of fair market rent in the area. 

We're discussing selling and moving to western North carolina. We'd like to buy either a SFH with detached dwelling unit we can rent out or a multifamily and house hack. Honestly whichever one we could get the best yield on We'd go for.

So my question is, sell it because it's very old and start fresh in the area we want to be, or keep it as seperate rental which would cash flow and buy what I mentioned above anyway as we really do want to establish residency in North carolina.

Thanks for the help 

New boston P.a if that helps. 

Wifes house been rented by her mother for last 5 years. My name is not on the deed. She pays enough to cover mortgage, taxes plus 5% for maintenance. 

Question,

Can I claim rental income so I can benefit after 2 years on loans? 

Also, can we depreciate this house (built 1895) if so how much or what %?

Mentioned this to my regular tax guy last year and he didn't seem like he wanted to go there. I forget his reasoning. 

Thanks for any insight. 

Thank you everyone 

Thanks much Christian, I really appreciate that. 

Newbie here, looking to connect with members, agents, investors in the Asheville, Maggie Valley, Boone area of North Carolina. 

I currently own one home in Pennsylvania which has been rented out to family for 5 years. Been visiting the smoky mountain region for years and plan on retiring there. Currently still working full-time and travel the east coast for work doing beach renourishment work and live in an RV but love it. 

Thanks to the recent hurricane we will have alot of work for a few years and I plan on spending that money wisely investing in rental property. 

I've been watching BP youtube daily for months,  read many many books, been practicing running numbers with an app finding deals etc, plan on taking boot camps here and also Zubers course. 

I'm 52 yrs old and have the opportunity to make some very good money with work the next few years and I need to make this happen. It's now or never escape the rat race. I'm 100% fully committed. 

I'm also a member of the BP fb group. 

Great to be aboard here and plan on going pro shortly. 

To end, if your an agent, broker, investor in the smoky mountain region of North Carolina please get in touch with me here or even send a fr on fb. 

Thanks much,

Robert