H1 meeda house or rental property unna vallu plz come

[AFDB_Director]

2.5 years rental property undindhi bro. Rule entante, you can rent it out but you shouldn't manage the property like lawn mowing, snow plowing, repairs etc. It should not take up any of your time in monetary value. 

Memu Property management ki icham. Vallu 5% of rent charge chesevallu. They will collect and deposit rent. Emayina repairs vaste chesesi manaki bill pampistaru. Ofcourse, repairs needs your authorization. Lease etc valle chuskune vallu. 

Sudden ga property values manchiga perigayi. So we sold it after 2.5 yrs. Okade tenant unnadu. Family of 4. Valla house laage chuskune vallu chala neat and decent ga. 

[JollyBoy]

4 minutes ago, AFDB_Director said:

2.5 years rental property undindhi bro. Rule entante, you can rent it out but you shouldn't manage the property like lawn mowing, snow plowing, repairs etc. It should not take up any of your time in monetary value. 

Memu Property management ki icham. Vallu 5% of rent charge chesevallu. They will collect and deposit rent. Emayina repairs vaste chesesi manaki bill pampistaru. Ofcourse, repairs needs your authorization. Lease etc valle chuskune vallu. 

Sudden ga property values manchiga perigayi. So we sold it after 2.5 yrs. Okade tenant unnadu. Family of 4. Valla house laage chuskune vallu chala neat and decent ga. 

[JollyBoy]

5 minutes ago, AFDB_Director said:

2.5 years rental property undindhi bro. Rule entante, you can rent it out but you shouldn't manage the property like lawn mowing, snow plowing, repairs etc. It should not take up any of your time in monetary value. 

Memu Property management ki icham. Vallu 5% of rent charge chesevallu. They will collect and deposit rent. Emayina repairs vaste chesesi manaki bill pampistaru. Ofcourse, repairs needs your authorization. Lease etc valle chuskune vallu. 

Sudden ga property values manchiga perigayi. So we sold it after 2.5 yrs. Okade tenant unnadu. Family of 4. Valla house laage chuskune vallu chala neat and decent ga. 

tax filing gurunchi asking TS

[iam_who_iam]

On 11/10/2019 at 10:08 PM, AFDB_Director said:

2.5 years rental property undindhi bro. Rule entante, you can rent it out but you shouldn't manage the property like lawn mowing, snow plowing, repairs etc. It should not take up any of your time in monetary value. 

Memu Property management ki icham. Vallu 5% of rent charge chesevallu. They will collect and deposit rent. Emayina repairs vaste chesesi manaki bill pampistaru. Ofcourse, repairs needs your authorization. Lease etc valle chuskune vallu. 

Sudden ga property values manchiga perigayi. So we sold it after 2.5 yrs. Okade tenant unnadu. Family of 4. Valla house laage chuskune vallu chala neat and decent ga. 

tax filling appudu lawn mowing repairs manam choopinchukovaccha bro ?

[andhrapradeshtelugubidda]

First thing you can invest with out any issues on H1b . Make sure you put down 20% which is mandatory for an investment home . 

Property management manam kuda cheskovochu but as somebody said if there are any issues with tenants manaku a legal stuff kastam aythadi. Management company fee ela ayina tax cut off lo pothadi and repairs also . You can report all these while filling taxes. 

But investing in real estate in US is always good. 

[AFDB_Director]

5 hours ago, iam_who_iam said:

tax filling appudu lawn mowing repairs manam choopinchukovaccha bro ?

Yes. You can deduct all expenses, management company fees,  mortgage interest as well. 

I strongly suggest to get a property management. It would easy to explain the rental income if you ever get audited. I am not sure how it affects GC, but you should never spend any time on the rental which has monetary value. Which means dont do mowing, repairs on your own. Own ga Chesevallu unnaru, but we are cautious and did every thing per rules. 

[ForEverJava]

On 11/9/2019 at 3:57 PM, kasi said:

No management company

Tentants direct deposit in my account

No receipts

But lease agreement was done n signed by both parties

I did through century21 agent for 6 yrs..every year u nee to report rental income and expenses on any repairs also rental home owerns insurance paid etc..part of your taxes..your cpa will take care of it..

 

I had single family home..century21 agent got good rent about 1600 but they take 10% every month..this ran well for 2 0r three years but later got issue with one guy not paying rent n did not move out had to use eviction route then another 2 years and then 6 months almost vacant..so on a full note it's mixed experience for me..when its occupied I had always saving of 200$ per month almost..after mortgage payment and agent commission they take care of collecting rent n deposit and any small repairs..

 

Finally sold it after 7 years thought its too much to manage being in other city..