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All Forum Posts by: Yasi Rios

Yasi Rios has started 1 posts and replied 9 times.

Quote from @Benjamin Aaker:
Quote from @Yasi Rios:
Quote from @Benjamin Aaker:

Hi Yasi,

1. If your wife is completely against renting by the room, don't do it. It's not worth the strain on your marriage, and there are plenty other ways to make it in real estate.

2. It seems to me like you need to have a look at your expenses. Making 200k a year should give you enough money to pay the back taxes. Do this before any real estate investing.

3. Consider other ways to invest - house hacking comes to mind. This gives you the tenants you want, but the separate areas that your wife wants. That would be a great way to negotiate with her off the renting rooms plan and into something that might work for both of you. 


 Thanks for this reply. I’m committed to paying off those taxes in the next few weeks hooping the irs will Negotiate

little update the wife came around to renting out by room, in her skepticism she called a property management company and they said they would rent our house out for 1800-2100 at best ! Our mortgage is 2100. So after I sent the numbers to the school student coordinator  he passed it along and I’ve had a few hits already interested. I’m now worried the numbers were to low “Whole house month to month lease: (with a two month notice)
$3,800 + $500 utilities

Whole house 6 month lease:
$3,000 + $500 utilities

Room month to month: (with a two month notice)
Master: $1,100 + $100 Utilities
R2: $900 + $100 Utilities
R3: $900 + $100 Utilities
R4: $900 + $100 Utilities
R5: $850 + $100 Utilities

Room 6 month lease:
Master: $800 + $100 Utilities
R2: $650 + $100 Utilities
R3: $650 + $100 Utilities
R4: $650 + $100 Utilities
R5: $600 + $100 Utilities


any thoughts :/? 

I'm thinking you wouldn't be able to rent out the whole house, since you'll be living there. I don't know about the rental comps in your area. I worry a little about college students staying month to month as the turnovers might be expensive. I think you should determine exactly what room/location your wife would be willing to live and then back out from there. This might not cover all your expenses but it certainly goes farther than no tenants at all.
I’m moving out into a new home. I’m renting out my 5/2 house . Entirely.  
Quote from @Timothy Chi:
Quote from @Yasi Rios:
Quote from @Colleen F.:

@Yasi Rios  you are going to owe taxes on your current earnings and rental income so you need to figure out what you did wrong there to owe so much as back taxes. Did you not make estimated payments?  And you can't not pay them and throw the money into deals. The government will always get you.  

As for the rental I would encourage you to rent on the open market. If the cousins qualify ok but there can be issues with family. Will you evict them if they don't pay?  If your wife won't go with the volleyball team that is a no go. In your situation talk to a property manager in the area and probably place the rental with them. You are currently gone for months at a time so managing yourself isnt really viable now. You don't want this on your wife.  I suggest once you straighten out your finances (spending may be an issue) and the books suggested above are good you consider another career. Look around and see what you can get w-2 first to stay home. It will be easier if you are home to get into real estate. Good luck.


 Thanks so helpful. 
idk what the heck’s going on with my taxes I literally have payed a lady in anchorage to do My taxes as I’m an independent contractor making 6 figures with a lot of write offs she’s done a horrible job I think. 

In my wife’s skepticism she called a property manger they said 1800-2100 at best for my house , the wife is now onboard for renting out by room , I have gotten a. Few hits from the school/parents  Already . Just nervous going forward , managing college kids in my first home . But it’s worth it I thin? 😓

Maybe consider a new CPA. I've been happy with mine in Anchorage if you'd like the referral.  I also would think you could rent your home for more than that, depending on location of course.  
Would love to connect
Quote from @Colleen F.:

@Yasi Rios  you are going to owe taxes on your current earnings and rental income so you need to figure out what you did wrong there to owe so much as back taxes. Did you not make estimated payments?  And you can't not pay them and throw the money into deals. The government will always get you.  

As for the rental I would encourage you to rent on the open market. If the cousins qualify ok but there can be issues with family. Will you evict them if they don't pay?  If your wife won't go with the volleyball team that is a no go. In your situation talk to a property manager in the area and probably place the rental with them. You are currently gone for months at a time so managing yourself isnt really viable now. You don't want this on your wife.  I suggest once you straighten out your finances (spending may be an issue) and the books suggested above are good you consider another career. Look around and see what you can get w-2 first to stay home. It will be easier if you are home to get into real estate. Good luck.


 Thanks so helpful. 
idk what the heck’s going on with my taxes I literally have payed a lady in anchorage to do My taxes as I’m an independent contractor making 6 figures with a lot of write offs she’s done a horrible job I think. 

In my wife’s skepticism she called a property manger they said 1800-2100 at best for my house , the wife is now onboard for renting out by room , I have gotten a. Few hits from the school/parents  Already . Just nervous going forward , managing college kids in my first home . But it’s worth it I thin? 😓

Quote from @Timothy Chi:

I think it could be good to focus on good defense with your finances first.  Since you make good money, maybe focusing on trying to spend less and being more aware of where your dollars are going to will help get you out of your tax debt.  A couple of books - Set for Life or Your Money or Your Life are great books that helped me put a little more thought into what I'm spending my hard earned money on. It created a solid foundation for when I eventually did buy my first rental property and it also set a solid foundation for when I eventually made a career transition. In "Set for Life", Scott Trench calls it your financial runway. In his book he said first save up to 25k, pay off unnecessary debt, then that 25k allows you to make a significant transition in your life, whether it's purchasing an investment property, or making a career change, etc.  

I love real estate investing so I wish I could say "buy an investment property!", but I think it would be good to have the solid defense and foundation set up first, make your career transition, then purchase a real estate investment. Now that being said, you're in a unique position where you do have a house that you can house hack. Is there a section where you can create a mother in law unit? Is there an area with separate water/sewer hookups where you can rent out and not be bothered by that tenant in your space? If not, the rent by the room is an excellent idea. Remember, you get to choose your own tenants. So it's worth posting it up for rent and you can always say no if you and your wife don't mesh well with the potential tenants.


 Thanks you for the book recommendation! Adding to my list. As far as the house we are not going to be living In it it’s a 5/2 we’re moving out so it’s completely available. I’ve already emailed the athletic director in regards to renting it. 

Just hoping I’m

Not chewing off more than I can chew extremely nervous going forward but I’ve already had parents asking about the room rentals. If you look through the comments impacted the offer I sent to the school boarding director 

Quote from @Benjamin Aaker:

Hi Yasi,

1. If your wife is completely against renting by the room, don't do it. It's not worth the strain on your marriage, and there are plenty other ways to make it in real estate.

2. It seems to me like you need to have a look at your expenses. Making 200k a year should give you enough money to pay the back taxes. Do this before any real estate investing.

3. Consider other ways to invest - house hacking comes to mind. This gives you the tenants you want, but the separate areas that your wife wants. That would be a great way to negotiate with her off the renting rooms plan and into something that might work for both of you. 


 Thanks for this reply. I’m committed to paying off those taxes in the next few weeks hooping the irs will Negotiate

little update the wife came around to renting out by room, in her skepticism she called a property management company and they said they would rent our house out for 1800-2100 at best ! Our mortgage is 2100. So after I sent the numbers to the school student coordinator  he passed it along and I’ve had a few hits already interested. I’m now worried the numbers were to low “Whole house month to month lease: (with a two month notice)
$3,800 + $500 utilities

Whole house 6 month lease:
$3,000 + $500 utilities

Room month to month: (with a two month notice)
Master: $1,100 + $100 Utilities
R2: $900 + $100 Utilities
R3: $900 + $100 Utilities
R4: $900 + $100 Utilities
R5: $850 + $100 Utilities

Room 6 month lease:
Master: $800 + $100 Utilities
R2: $650 + $100 Utilities
R3: $650 + $100 Utilities
R4: $650 + $100 Utilities
R5: $600 + $100 Utilities


any thoughts :/? 

I’ve considered it a many times, but I always fall back to fishing and committing to three month trips at a time. Just to keep up with lifestyle and bills, I’ve been cutting back, recently.

I for the time being don’t see myself moving because I’ve made a life here, my wife’s family is here , her friends her nursing job, not that I haven’t considered it further down the line, I originally came up to Alaska for the money I wasn’t making in Florida. Down the line absolutely 


my tax debt is from back taxes (in come) 2021 I owe 34k plus 10k in penalties, working with a tax agent to see if that can be reduced. After this herring trip I’m currently on I plan to use these funds to pay off my tax debt . But then I’d have to come back in September for three more months to get any capital. 

Hello my name is Yasiel, a little bit about me, I’m 30 years old from Florida I moved up to Alaska a while back where I commercial fish, I make 6 figures a year but I’m gone 7-8 months a year which is extremely taxing on my life, mental health and mirage, and over all happiness, I realize I want financial freedom to be home more with my family , and do the things I know I’m meant to do. I work extremely hard for my money but now I want my money to work for me, I grew up poor in Cuba, my parents didn’t come from much either so I lack the financial knowledge to succeed in life. For example I made close to 200,000 in 2021 , but only have my house to show for it and 46,000 in tax debt and it’s also under my wife’s name because my credit score was not good enough to get the loan. I invested some in crypto when the hype happened and lost most of it when I had to sell for cheap. Because of expenses with getting married and new home owner ship. Problems I am facing include, having to fish to pay off this tax debt or using the money I make fishing which could be 30, 50k in three months , and then fish some more to invest, but I’ve been at this for 7 years and every day I spend on the boat I want to jump over when missing home 😆. The good news is that my wife and I are going to move into our in-laws home In Alaska because the snow bird in Arizona, it’s a great opportunity for us as we can now rent out our 5 bedroom 2 bathroom home in anchorage. My wife is against the idea of renting it out by room to the volleyball team in the local university through a coworker of hers that knows the coach. The lady then said actually this would be perfect for my cousins who are moving back to anchorage. But after I heard the first idea my wheel turned and now I can’t get that idea of renting out by room out of my head to increase cash flow with hopes of investing more and getting out of fishing!! But my wife is totally against the idea. I’m trying to convince her that I’m serious about starting my real estate dream so I can quit fishing and be home . And a way to do that is rent by room of our first home.

Some of my problems is my tax debt

Wife’s skeptical of my plans

Where is my time better spent? Back home finding deal getting my real estate license and immersing myself in that world or to be stuck fishing for the big checks to invest with.

Can I not pay my taxes going forward and throw that into deals? For a few years then pay them? I’m lost and desperately seeking advice I’ve been listening to the podcast since January and reading anything I can to educate myself and get out of this rat race I am in. Help.

Hello my name is Yasiel, a little bit about me, I’m 30 years old from Florida I moved up to Alaska a while back where I commercial fish, I make 6 figures a year but I’m gone 7-8 months a year which is extremely taxing on my life, mental health and mirage, and over all happiness, I realize I want financial freedom to be home more with my family , and do the things I know I’m meant to do. I work extremely hard for my money but now I want my money to work for me, I grew up poor in Cuba, my parents didn’t come from much either so I lack the financial knowledge to succeed in life. For example I made close to 200,000 in 2021 , but only have my house to show for it and 46,000 in tax debt and it’s also under my wife’s name because my credit score was not good enough to get the loan. I invested some in crypto when the hype happened and lost most of it when I had to sell for cheap. Because of expenses with getting married and new home owner ship. Problems I am facing include, having to fish to pay off this tax debt or using the money I make fishing which could be 30, 50k in three months , and then fish some more to invest, but I’ve been at this for 7 years and every day I spend on the boat I want to jump over when missing home 😆. The good news is that my wife and I are going to move into our in-laws home In Alaska because the snow bird in Arizona, it’s a great opportunity for us as we can now rent out our 5 bedroom 2 bathroom home in anchorage. My wife is against the idea of renting it out by room to the volleyball team in the local university through a coworker of hers that knows the coach. The lady then said actually this would be perfect for my cousins who are moving back to anchorage. But after I heard the first idea my wheel turned and now I can’t get that idea of renting out by room out of my head to increase cash flow with hopes of investing more and getting out of fishing!! But my wife is totally against the idea. I’m trying to convince her that I’m serious about starting my real estate dream so I can quit fishing and be home . And a way to do that is rent by room of our first home.

Some of my problems is my tax debt

Wife’s skeptical of my plans

Where is my time better spent? Back home finding deal getting my real estate license and immersing myself in that world or to be stuck fishing for the big checks to invest with.

Can I not pay my taxes going forward and throw that into deals? For a few years then pay them? I’m lost and desperately seeking advice I’ve been listening to the podcast since January and reading anything I can to educate myself and get out of this rat race I am in. Help.

Hello, a little bit about me, I’m 30 years old from Florida I moved up to Alaska a while back where I commercial fish, I make 6 figures a year but I’m gone 7-8 months a year which is extremely taxing on my life, mental health and mirage, and over all happiness, I realize I want financial freedom to be home more with my family , and do the things I know I’m meant to do. I work extremely hard for my money but now I want my money to work for me, I grew up poor in Cuba, my parents didn’t come from much either so I lack the financial knowledge to succeed in life. For example I made close to 200,000 in 2021 , but only have my house to show for it and 46,000 in tax debt and it’s also under my wife’s name because my credit score was not good enough to get the loan. I invested some in crypto when the hype happened and lost most of it when I had to sell for cheap. Because of expenses with getting married and new home owner ship. Problems I am facing include, having to fish to pay off this tax debt or using the money I make fishing which could be 30, 50k in three months , and then fish some more to invest, but I’ve been at this for 7 years and every day I spend on the boat I want to jump over when missing home 😆. The good news is that my wife and I are going to move into our in-laws home In Alaska because the snow bird in Arizona, it’s a great opportunity for us as we can now rent out our 5 bedroom 2 bathroom home in anchorage. My wife is against the idea of renting it out by room to the volleyball team in the local university through a coworker of hers that knows the coach. The lady then said actually this would be perfect for my cousins who are moving back to anchorage. But after I heard the first idea my wheel turned and now I can’t get that idea of renting out by room out of my head to increase cash flow with hopes of investing more and getting out of fishing!! But my wife is totally against the idea. I’m trying to convince her that I’m serious about starting my real estate dream so I can quit fishing and be home . And a way to do that is rent by room of our first home.

Some of my problems is my tax debt

Wife’s skeptical of my plans

Where is my time better spent? Back home finding deal getting my real estate license and immersing myself in that world or to be stuck fishing for the big checks to invest with.

Can I not pay my taxes going forward and throw that into deals? For a few years then pay them? I’m lost and desperately seeking advice I’ve been listening to the podcast since January and reading anything I can to educate myself and get out of this rat race I am in. Help.