All Forum Posts by: Ashley Abramson

Go for SFH 3 bed 2 bath +/- If you're doing a quick flip and not living there you want a distressed house in a good neighborhood where comps (renovated and fixed up) are flying off the market. Look at your ARV for comps with similar sq footage, bed bath makeup, within 1/2 mile, sold last 90 days, always be conservative in estimates. As far as living there, that's a longer play, but if you're confident the market is going to keep going up or at least not go down, you should be able to play by the same rules

Hi @Jonathan Loyola I am an Amazonian as well :) Good luck!

@Jay Hinrichs Understood! I was just showing examples of how wealthy/intelligent investors/business people pay less in taxes because they are educated on tax code and/or have a good CPA. 

Listen to the BP podcast featuring Natali Morris. She has a great outlook on this. Basically, if you have your own Real Estate Investing business (an actual LLC) and do all of your business transactions through that, you can also deduct things like mileage, gas, phone, internet, rent (home office), travel, meals, etc. all of these things are deducted and give you less taxable income which means paying less in taxes in the long run. Also there are tax forms like 1031 (I think) that allow you to roll all the profits from one deal, into your next deal without having to pay taxes :) Seriously, listen to it though: @Mitchell Kane

https://www.biggerpockets.com/renewsblog/2016/03/10/bp-podcast-165limiting-beliefs-hold-incredible-wealth-natali-morris/ 

Welcome to BP Mitchell. I live and work in the Seattle area as well. I wanted to follow your post. I get the general idea of what Kiyosaki is saying here, but I want to see others responses, to verify before I give you wrong information

@Cassie Sherie @Jennifer King @Gino Barbaro @Benjamin Pekarek @Ben Rutkevitz

Thank you all so much for your input! The general vibe I am getting is that you can be creative as you need to be to get a deal done, just make sure both parties feel comfortable, protected, and will make a profit before moving forward... which is the cool thing about RE Investing, and what I have learned thus far is that it is necessary to be creative. 

I think the general idea @Jennifer King and I were thinking was similar to the downpayment. renovate, rent, and refinance strategy @Benjamin Pekarek suggested. LOVE IT! We were thinking a little more transactional where we can repeat the process with each other (and others), but not something where we are splitting the cashflow that comes from renting the property out and would be more long term partnership. Does that make sense? Thanks everyone!

@Jennifer King

Hello everyone! I am curious if someone can help me understand this better. I did a ton of training in fix and flip and understand that very well. I am wondering how you can do a JV on a buy and hold/cashflow property? Obviously when flipping, the JV is useful for funding the rehab and holding costs, then giving them an ROI on their money. But again, curious how you could partner with another investor on a buy and hold? How do both parties benefit, how do you structure that?

@Paul Timmins Go Hawks.

Thank you so much for the info I really truly appreciate it! Look forward to connecting!

@Lane Kawaoka Have you been doing this a while (the full time job and investing thing)? I have had my LLC since last August, put out a TON of offers, a handful accepted but I keep seeming to estimate not enough rehab. I have backed out of a couple because I got my contractors out there and the actual rehab made the numbers not work anymore. Anyway, just sent you a colleague request! Look forward to chatting!