All Forum Posts by: Brian Stillabower

@Brian Stillabower robert kiyosaki approach, not spring.

My wife and I are looking for our first investment property.

We plan on growing and becoming financially free.

Is it best to take the robert Kiyosaki spring and take as many deductions as possible to keep from paying taxes?

I read that can lead to a downside which will be the banks not lending due to your current properties not showing any income since you deducted it all.

I want to claim no income for tax reasons but I want the banks to see we are doing well and making money.

What’s the best strategy?

@Kenny Hsu

Don’t wait. If it’s a good deal and can generate cash flow, do it. If not someone else will.

Definitely be ready when the market does go down to be ready to invest then too. What if the correction is 5 years away? Then you wasted 5 years.

If the market does go down, simply don’t sell, continue collecting rents and cash flow.

My wife and I are putting together a business plan for a real estate business, mainly rentals, but may do a few flips, who knows where it will take us.

Her brother and possibly her other brother is interested in a joint venture. So 4 tots partner, me my wife and her 2 brothers.

What is the best way to divide up ownership in the company?

Hello all:

I am looking to purchase a small apartment complex, up to 10 units.

I am also wanting to set myself up for future investments as well.

Is it best to take the rents and pay down the mortgage, then when ready for the next investment property borrow that equity.

Or bank all the rents and use when ready for next property?

I am wondering from a financial standpoint. Obviously paying down mortgage will save me in interest but ties up the money and isn’t as liquid as money in the bank. Also I would think there are also tax benefits.

Any insight is appreciated.

I am planning on purchasing a rental property with a HELOC on the home I live in.

I am wanting to make an LLC for the property to protect my personal assets.

If I use the funds from a HELOC, to purchase the property that will be in the LLC, will my personal assets be safe?