All Forum Posts by: Amber Saulsbury

@Jason D.

That seems to be the advice of everyone on here, I guess I have a hard time with debt if it’s not a must. I’m going to have to research more. I guess everyone is counting on the appreciation for that to make sense right. Because otherwise if you can pay cash say, and your making 8-10 percent on a property just for an example. But your paying a bank 4.5 percent, aren’t you just eating up your profits. Sorry, I know that’s probably a stupid question and everyone on here seems to leverage, but if your going to buy and hold, the only benefit to leverage is to purchase more and count on appreciation, or Am I missing something?

@Jason D.

Thank you!! I would think no income tax on rentals even with depreciation, etc would mean that I was leveraging right, or had some sort of loan on the property? Otherwise if it’s paid for I wouldn’t see there being enough expenses or depreciation to wipe out the income right? Or am I missing other things?

@Charles Kao

Thank you!

@Christopher Smith

Thanks so much for the advice!

Hi all,

I am sure there are some tax experts on here or at least people with more knowledge or experience in this that may have advice. I am debating whether it is better to invest in Rentals in my home state of Texas or go out of state. The prices of SFHs have gone up substantially in Texas over the last 7 years, and along with that so have our property taxes. This has me looking into some other markets to start investing in SFRs.

My question really relates to how it affects my taxes, etc. Would I be better off keeping my money in Texas and paying the higher property tax which is a deduction against the property on returns. Or am I better off looking out of state at more affordable properties with lower property taxes, but that state would have income tax?

Any thoughts or advice is appreciated.

@Kenneth Williams

Best of luck on the phone interview, either way, there is a ton of opportunity for work here. Dang post office is even paying $21.43 an hour. Feel free to message me if you want more info on the area. I’m sure you’ve heard housing and rent here are really high because of all the jobs. Right now I work PT from home and husband works for a chemical company.

@Kenneth Williams

Yes sir we are

@Nick C.

Thank you! Probably go with both, I do have assets I would like to protect and seems like everyone looks for a reason to sue these days. I will look into doing both, I appreciate it!

@Leah Stuever

Thank you! Sorry, I should have mentioned that I know I need insurance on the actual property, but sounds like an LLC may be advised, I appreciate it!

Should I start an LLC prior to purchasing my first investment property? Or do I wait until I have a few properties and get an umbrella policy, or do you advise to do both?