All Forum Posts by: Mason Bushman

Hey guys, rookie here. I've been studying property taxes so I can better analyze deals. I've only been researching in my county where I plan to make my first purchase so I don't know if it differs from other areas. So forgive me if I did not need to include this information. My county uses a 4% (residential) and 6% (non-residential/rental) ratio to determine a property's assessed value for taxation. I've talked to a Tax Assessor on the phone but she didn't seem too confident in her response. 

My question is: When house hacking a duplex, does your whole property (both sides) get assessed at the 4% residential ratio for property taxes? Or does the value of the property get split so you have the residential ratio on your half and the 6% non-residential ratio on the side you're renting out?

I'm asking cause my county gives you a significant school tax credit if you are living in your property. I'm trying to figure this out as it can have an impact on my cash flow when analyzing. 

Did you have any experience in painting and flooring prior to this property? Or did you tackle this project with just research and how-to videos under your belt? I love your choice of flooring! Already looks much brighter in there. 

I definitely cannot provide any pointers for you as you are already more experienced than I! But it's beneficial for me to see your progress, so thank you for the update!

Wow, thank you guys! I am going to check each and every one of them out. I appreciate your time :)

Hey Stacey, I'm also a baby investor. I'm lucky enough to have my younger (but smarter) brother to partner with. We have weekly meetings over zoom where we build knowledge, analyze deals, and plan for our first buy (goal is spring 2022). It is definitely a LOT to learn. My brother is the 'math guy'. I struggle with the whole financial funding and following the ups and downs of the cash flow/expenses. However, I am working on it with every spare moment I have. I call it my 'second job'. And I love it!

My rookie advice to you is what I learned from Scott Trench's "Set for Life" book; be very vocal to everyone that you meet and talk to on a daily basis about your real estate investing plans. He even said in the book that yes, it will probably annoy a lot of people, but you might get lucky with some connection recommendations ("Oh, my grandpa owned a few rentals back in his day, he's retired now and I'm sure he would love to talk to someone that isn't grandma about it! I know grandma would appreciate the break."). Scott also mentioned in the book that LUCK plays a big part in becoming successful. But you have to put yourself in a position to get lucky. Example: studying at home vs studying at a park/library where you can meet people. Maybe take one of your investment books with you wherever you go as that might strike up random conversations with people you encounter.

Good luck! My investing journey started when I was visiting my grandma in Phoenix. Had a long life discussion with her that I don't remember much of. But "Rich Dad Poor Dad" was brought up. I read that and months later I am now here on BiggerPockets on this forum talking to you (instead of getting drunk and playing video games). That book was a huge reality smack in the face for me.

That is so exciting! I am interested in following your journey. Way to take action! Hopefully I can make a post just like yours soon. I'm planning on making my first move when my apartment lease is up. I figured that is a good timeline to build my knowledge, search for deals, and then take action. Also your wife sounds like an amazing woman.

Hey guys! Serious rookie here. I would LOVE the chance to join a meetup or connect with other investors (experienced or rookie) locally. My brother is partnering with me on our first investment property that we are going to take action on in Spring 2022. We have weekly meetings together, teaching each other and planning it all out. But I would like to broaden my connections. 

Is there anyone who lives near Columbia or Charleston, SC that has a meetup group? Or would like to start one?