All Forum Posts by: Byron Stoddard

@Kirk Frickey

Go listen to the podcasts when they have grant cardone on the show. Despite my opinions about cardone that podcast really has made me think differently about a few things, one being multi family over single. Previous to this I would hear Brandon talking alot about scaling, but it never really resonated with me until listening to those two podcast. I belive they are episodes 108 and 250

When using the brrrr method, should I be getting an inspection on every property before I close the deal?

Also, is it a good idea to be getting an appraisal around that same time? Or should that only be done when refinancing?

@Basit Siddiqi

Yeah I laid everything out on the table for them. Still got different answers from all 3 of them. It seems like my best bet is to continue to file the way I am right now. Like the guy mentioned above, starting an S-Corp wouldn't save me any on SE tax so there is really no point of doing that. I think the CPA that told me that was just trying to get some money out of me

@Aidan Mulligan I'm sure there are extra steps we can take during the screening process to ensure that the pets we allow in our rentals are not going to be a nuisance. To say that you strictly ban pitbulls makes no sense to me, because there are plenty of other breeds of dogs that can be dangerous to the neighborhood AND your property. (I've seen small dogs like yorkies chew all kinds of **** up and piss everywhere and totally destroy homes). I would say you or your property manager should meet with the potential tenant and their pet to see how the animal acts. If a dog is constantly trying to jump on you and disobeying the owners orders, I would say that is a good sign the dog will most likely cause problems. Any thoughts on this?

@Ashish Acharya Thanks man!

I'm working a cash paid job (1099), and wanting to start investing in real estate very soon. I am currently filling taxes myself via turbotax. I file as self employed. I have spoken to a few different CPA's. They have all said different things such as setting up s-corps, and so on. I have no clue on what would be the best direction to take with this, especially with the fact that I will be purchasing my first "brrrr" property this year. Any advice?

@Zachary C.

Good info, thanks man