All Forum Posts by: Yulia M.
Yulia M. has started 3 posts and replied 7 times.
Thank you so much for the good ideas. My only concern, if my family's taxes, outside of REI, need to be in NJ and NY, can a remote CPA still do them (does s/he need state specific knowledge). Thank you
Hello Everyone,
Can you please recommend a reasonably priced CPA who specializes in RE and is also good at business expenses (law business). I live in NJ. Thank you very much!
Post: Can I deduct those expenses?
- New to Real Estate
- New York
- Posts 7
- Votes 4
Dear BP family,
I have a question about REI expense deductions. If I don't yet own investment RE, but do have expenses related to looking for and acquiring RE, as well as RE educational expenses, can they be deducted? Are those considered RE expenses or training for new profession?
If the latter and let’s say I end up buying an investment property, are expenses incurred while looking for this property considered tax deductible?
Thank you!
Post: Top RE Markets - What state are you investing your funds in?
- New to Real Estate
- New York
- Posts 7
- Votes 4
Originally posted by @Dan H.:
I think for virtually all newbies the best market for them to invest in is their own market; no more than an hour drive, ideally less.
The worse market for the newbie to invest in is the historically zero appreciation, high projected cash flow, OOS market.
Hi Dan. And why is it the worst move? Also, what if the area where one lives is unaffordable and doesn’t cash flow well. Let’s say you can drive an hour in every direction from New York City and you have 0 chance to find a $100k property.
Thanks
Post: Making an Entrance into Rentals
- New to Real Estate
- New York
- Posts 7
- Votes 4
Thank you so much for your warm welcome and great insights. Sending you messages and hope to connect with all of you!
Post: Making an Entrance into Rentals
- New to Real Estate
- New York
- Posts 7
- Votes 4
Thank you for your replies. Yes, I am getting all the education I can - webcasts, books, meet ups and interviewing people. My head is swollen :-)
Post: Making an Entrance into Rentals
- New to Real Estate
- New York
- Posts 7
- Votes 4
Hello Everyone. Excited to be a part of this awesome group! I am looking to make real estate investments for cash flow generation, move to Spain, and work on the projects I am interested in. I've been in investment business for a long time, but I am a public markets investor, not much experience in RE. Looking to move pretty quickly and interested in multiple geographic markets. Eventually, looking to be more passive investor but very willing to be more active at the beginning as I am learning the ropes. Open to multi and single-family rentals, turnkey or forced appreciation. I currently have a corporate job and won't have any problems obtaining financing and I am looking to leverage. Somewhat debating whether I should look into Spanish RE, given, I am planning to live there eventually and mortgage rates are lower there. I want to start with a few hundred K and continue to build on. Any advice for me? Thank you