All Forum Posts by: Account Closed

I found the answer here

https://www.biggerpockets.com/forums/311/topics/148187-depreciation-recapture Most likely it will be even 25% which is 50k. Wow!

Hello,

I am moving to new house and would like to rent out my current property. There are a lot of articles that "depreciation" helps to even profit from rental with expenses.

Let's assume the property without land costs 275,000. If I can write off the 1/27.5 of its value...it is 10,000 of "expenses" every year.

Question and concern: What will happen in 20 years when I decide to sell that property for 275k? By that time I will depreciate 10k * 20yrs=200k. Does it mean that I have only 75k of my non-taxable money and 200k portion is kind of income that I need to pay a taxes?.. If my efficient tax rate 20%...it is 200k*20%=40k in taxes?!..

Thank you,

Alex

Hello,

I am still considering to buy my first investment property. It seems multi-family building is better because:

1) It is cheaper to buy the 6 apts single building than 6 individual condos

2) I don't need to follow 6 board actions. I just manage the building myself

3) If some apartments are vacant...it is not a matter of 100% vacancy and hurry to find new tenant

But it seems too risky to start "new full-time like" responsibility without "first experience with smaller scale".

What do you think?

Another question is about getting a real estate licence to buy just one property in Illinois. If property is 750k...3% buyer agent fee is over 22k! Can I save it? I can get a license for about 1,000-1,500 by spending some time and saving what.. 20k? Does it make sense to get the license for such purchase?

Thank you for sharing your thoughts,

Alex

I also find the topics and the articles full of useful info on BP. This is a great resource to understand the terms, directions and a lot of useful checklists to follow/listen to. I just wanted to understand why you need more participants in your community. Also my question was not about BP only. There are several web resources and books and local companies that are open. The problem is that I have the feeling there are too many successful real estate business people who really want to suck into real estate investing. And even though I wanted to try it from the very beginning...the "why they want me here so much?.." question scares me from jumping into this new adventure.

Thank you everyone for your prompt answers.

Still. By attracting more people like making free in-person meetups they spend time, money and create more competition. There is something more. Networking - I agree with this.

Hi, beside from "I want you all to try and get a financial independence! You don't need to work any more! Here are my successful stories. Here are free resources. Here are free meetups"... What are the reasons for BiggerPockets to make more people into Real Estate business? Is it increase the cloud of potential buyers to get not so "the best deal" from them? Is it to sell the bank REO properties and get some fraction from transaction? Or what? I hardly believe in desire to share the knowledge.