All Forum Posts by: Brandon Elliott-Pandey

@Brandon Elliott-Pandey why not just explain that the 401k was created to fund public companies and incentivize economic growth. Most wealthy people own real estate and businesses. Do you ever hear Elon Musk talking about how good his 401k is doing haha.

Well said Nate! Thanks for your thoughts and concise example lol.

I am more so looking to create a bridge with the convo though and exercise knowledge showing that my plans for future growth are, relatively, safe and stable as time goes by. This is a great example though and love your thoughts here!

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Quote from @Account Closed:

For folks like this, we ensure they are maximizing their 401k, HSA and IRA before even mentioning any potential real estate strategies. Consider giving us a look! We have a few blog posts on various real estate-related topics that could be helpful for your presentation. Ideally, use both real estate and 401k!

Hey Zach, I'd love to schedule some time to go over these pro's and con's. I'll send you a private message!

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Quote from @Michael Plaks:

@Brandon Elliott-Pandey

Your Thanksgiving a few weeks ago was too peaceful for you? You want your next one(s) to be ruined by your FIL's resentment over you having talked him into financing your RE projects? To each his own, but I would look elsewhere for funding.

Lol not looking for funding from him. To answer the question asked above more clearly. I am looking to share my tax planning that I have decided for myself and why it is better to pursue investing in RE vs putting money into a 401K. I would like to use this opportunity to showcase why that works best for me as a Full time Real Estate agent vs the more traditional thinking of investing in mutual funds or stocks.

Do you have a presentation on cost vs. benefits here? Or could provide some insights?

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Quote from @Sean O'Keefe:

@Brandon Elliott can you provide more context here? Are you (as a real estate agent, with REPS) trying to convince your father-in-law that if he invests funds in real estate with REPS status it is a better decision than putting the $22,500 (limit in 2023) in a 401k?

Sure, for my tax planning I have decided it is better to pursue investing in RE vs putting money into a 401K and would like to use this opportunity to showcase why that works best for me as a Full time Real Estate agent.

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Looking to make a Tax presentation for my Father in Law who LOVES 401k's (with pros and cons) vs investing in real estate as a real estate professional.

Would love to have some help here from a licensed professional who can provide insights into both strategies.... and if you already have a presentation put together that would be GREAT!!! :-D (meme inserted here lol)

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I've recently parted ways with my previous property management company and am looking for a GREAT new one!

Who do you use and recommend? :-)

TIA

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Denver, Colorado

Please share your preferred Property manager(s). I am looking for a good one that services SF real estate in Johnstown CO.

TIA

1 Vote

Denver, Colorado

Quote from @Sarah Kensinger:

It would help if we knew how many STR you have. But I would definitely say that you need a PMS, and for a couple properties Hospitable or Hostfully would serve its purpose. To say ahead of competition and make your life easier as a STR host, a PMS is a must! Another must is a dynamic pricing software like Pricelabs. With a little guidance from you as the host, you can be sure not to leave any money on the table. Lastly, you could use the typical apps for thermostat, ring cameras, etc.

Thanks Sarah! That is incredible insightful and I'm more so asking for my clients and future Airbnb purchases with my wife :-)

1 Vote

Denver, Colorado

Quote from @Omer Menashe:

PMS - Guesty/Hostaway/Lodgify depending on exact needs and price sensibility

Expense Automation - Clyr

Thanks Omer! Haven't heard of Clyr... How's that been for you?

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Denver, Colorado

Quote from @Michael Baum:

I keep the tech stack limited. I am a big tech guy but more tech can help but can create problems.

I don't use any software at the moment. Just use the apps.

I use a Emerson Sensi thermostat. Mainly because it works without the need for a C wire.

I have the whole house setup with Z Wave home automation but only have the thermostat and the Schlage Encode lock on it. I think I will be setting up a Aeotec 7 multi sensor and add that to the stack.

All of what I listed has been rock solid for 6 years. I have a few Z wave plugs I am going to try so I can turn on and off lights remotely here and there.

I also have a Eufy solar camera to put up. It is WiFi.

Thanks for sharing Mike! And I know some builders are tossing in Z wave stuff these days so that's cool to hear about your setup!

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Denver, Colorado

All Forum Posts by: Brandon Elliott-Pandey

Brandon Elliott-Pandey has started 40 posts and replied 181 times.

Post: Looking for a Tax PRO

Post: Looking for a Tax PRO

Post: Looking for a Tax PRO

Post: Looking for a Tax PRO

Post: Looking for a Tax PRO

Post: Who do you use to manage your rental property(s)?

Post: Looking for a GREAT Pm!!!

Post: Best Tech for STR's?!?!?!

Post: Best Tech for STR's?!?!?!

Post: Best Tech for STR's?!?!?!