All Forum Posts by: Ashraf Eldabh

I'm in southeast FL, and in my area a starter home might run about $600K. That $600K house will have taxes of approximately $9K-$10K/yr. Homeowner's insurance will run you about $12K/yr. Of course, there are variables that will affect those numbers but they're an accurate estimate.

Thank you for the reply.

0 Votes

I'm about to start investing in direct real estate in florida which traditionally have been a hot market but I'm worried about the insurance crisis affecting the market and cash flow. What do you guys think?

1 Vote

I do not have a business entity setup yet but I'm planning to have it in the future, How to proceed before closing on my first property. Can I open a business account despite not having a business yet?

Thank you

0 Votes

Quote from @J Scott:

Are you planning to create a business entity out of which you with either hold and/or manage this property?

If so, set up a separate business account. If you ever get sued and want to use the business as a legal shield, having a separate business account that doesn't co-mingle with your personal funds will be important when it comes to the determination of whether what you have is a business or a personal hobby (though there are certainly lots of other aspects of this you need to investigate as well).

If you don't plan to create a business entity, then the only purpose I can think of for a separate account would be to help you manage and track your income and expenses. If you don't need a separate account for that purpose, it just boils down to personal preference.

0 Votes

Hi,

Any recommendations on an investor friendly CPA in SW Florida (Fort Myers, Cape Coral area)? Looking to maximize my tax deductions and possibly offset some of my W2 income as well

Thank you

2 Votes

Cape Coral, Florida

Quote from @Zach Lemaster:

@Don Tarinelli

Thanks for the interest! We have many investors working with us on new construction in SWFL. I've posted some links to threads below where investors are sharing their experience about new builds & TK in general working with RTR just as Patrick shared. Feel free to reach out with any questions. New construction in SWFL is an exceptional opportunity to come into immediate equity & cash flow investing in an excellent market that is quickly appreciating!

https://www.biggerpockets.com/users/ZacharyCole/references

https://www.biggerpockets.com/forums/92/topics/518583-feedback-on-renttoretirement-and-zach-lemaster

https://www.biggerpockets.com/forums/92/topics/765347-rent-to-retirement-review

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

https://www.biggerpockets.com/forums/92/topics/983659-first-investment-property-with-rent-to-retirement?highlight_post=5677176&page=1#p5677176

https://www.biggerpockets.com/co/RentToRetirement

https://www.biggerpockets.com/forums/92/topics/929410-rent-to-retirement-updates?highlight_post=5508807&page=1#p5508807

https://www.biggerpockets.com/forums/92/topics/893621-rent-to-retirement-review?highlight_post=5222888&page=1#p5222888

https://www.biggerpockets.com/forums/311/topics/915728-experience-with-rent-to-retirement-turnkey?page=1#p5345200

https://www.biggerpockets.com/forums/92/topics/808479-rent-to-retirement-experiences

https://www.biggerpockets.com/forums/67/topics/952977-turnkey-in-indianapolis-through-rtr-case-study

https://www.biggerpockets.com/forums/12/topics/997350-lessons-learned-from-buying-my-first-rental-property?highlight_post=5748036&page=1#p5748036