Pay Uncle Sam, or use $$ for a down payment.

[Tami Goodrich]

Investment Info:

Condo buy & hold investment.

Purchase price: $275,000
Cash invested: $68,750

When my husband sold his company in the latter part of 2022, we were facing a large tax liability which we did not prepare for. It forced us in a higher tax bracket. Additionally, we did not have access to the funds, as they were locked into an account for a full year. So, even though we earned income, we couldn't use that income to pay the taxes owed. I quickly got into action finding a property we could close in less then 30 days, and then used accelerated depreciation to reduce our liability.

What made you interested in investing in this type of deal?

Accelerated Depreciation (great cost segregation opportunity) with quick turnaround for 2022 & found reliable property management company.

How did you find this deal and how did you negotiate it?

Agent friend in norther GA

How did you finance this deal?

HELOC

Lessons learned? Challenges?

Building a trusted team means I do not have to be there myself.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Rachel Davenport Team, Supreme Lending