All Forum Posts by: Suzanne H.

I am planning to rent my house out within the next couple months. This will be my first rental property. I have been researching more so lately trying to understand how taxes work. It has came to my realization that quarterly taxes are a thing. are quarterly taxes required? And regardless if they are required or not, where can i find a cpa or experienced real estate tax person? should i just do o my taxes yearly? sorry i just have so many questions!!

@Tom Sharkey Hi Tom I just read your profile and saw that you do property management for STR in Kansas City! I would be interested to find out how much this would cost. I am actually moving out of my house this weekend, then I was planning to do a long term rental but maybe STR would be more cash flow? I don't know. it's in kansas city, kansas in wyandotte county. Not the best area tbh but the house itself is super cute!

@Wei Xia @Wei Xia Hi! I am about to rent my house out. I was planning to do Long term rental but lately I have been hearing a lot about STR. Is this something you still do? Maybe we can talk about it and you could help me if i decide to go that route! By the way, my house is in Kansas City, KS.

So i bought my first property with FHA in September 2020, it's a 3 bed, 2 bath. I plan to live in it for 1 year until I am able to rent it out. There are a couple things I need to take care of before I am able to rent it out. One of those things is the closet situation, it's the strangest thing but this house was originally built in 1922 (it has been completely remodeled) and there aren't any closets in the bedrooms. What should i do in this situation? I mean should I go to Ikea and buy some basic wardrobes and call them closets? or should I hire some type of contractor to build them for me? I really don't know and the bedrooms are already small.

@Krish Oza Yes! I believe you can use the FHA loan- up to 4 unit's multi-family but nothing bigger than that. so single family house, duplex, triplex, fourplex you can do that!

Good luck with your journey and I am curious to see how this turns out for you!🙂

I wanted to do the same thing but at the time that i was ready to buy, there weren’t very many options for multi-family in my area at the time so i went for a single family home. but i got a pretty good one!

@Krish Oza Hi, i'm new to investing too. i bought my first SFH in September 2020 with FHA, i'm living in it for one year then I want to rent it out. I know that the FHA loan is not meant for investors but i think as long as you follow the requirements (living there for 1 year) then you will be fine. sorry if this doesn't answer your question.