All Forum Posts by: Rachan M.

Good Tuesday morning!

Based on your thoughts @Russell Brazil @Stanley Parsley@Joe Delaney @David Dachtera @Joe Villeneuve, I started looking at less expensive houses in DC. I stumbled upon this run down 4BR house which needs complete gutting and rehab - easily a $150-200k project.

It was listed 6 months ago, list price was lowered last month to $500k. The realtor mentioned that of the 3 offer received, the highest is $75k below new list price. Assuming no structural damages, this could be a good investment.

I would love to get your thoughts on how to evaluate such a rehab project.

@Account Closed I like the way you think 🙌

@Russell Brazil I am specifically looking for 3BR houses in DC with basement. Are there such houses available in the $500k range? For what it's worth, I'm not too concerned about buying more than the bank will lend.

Appreciate it @Account Closed. I'm new to the world of real estate investing, and want to understand my gamut of options. The "whatever it takes" mindset has been well ingrained in my 10+ years of entrepreneurial journey 👍

Hi BP,

I just looked at a house in DC with @Cassidy Burns and would love your help figuring out how to buy it.

It is listed for $700k, needs ~$50k of work, is 6 blocks away from metro on a quiet street.

Based on online PITI calculations, it must bring in $5k in rent to stand on its own feet, which I believe it can, especially with short terms rentals like Airbnb.

I have $50k to invest, and am looking to buy and hold.

The issue: I may not qualify for a loan more than $500k.

What do you suggest?

Thanks in advance!

Recognizing that it won't count as legal or professional advice, can you guys share your thoughts about whether or not to setup a LLC?

I'm just starting out, and I plan to buy 1 rental property (both short and long term rentals) each year. I do not see myself flipping houses, I have a full-time job, which can possibly convert into a 1099 consulting arrangement.

Of course, I would like to minimize taxes.

Hi @Mark C. What are you looking to achieve with PPC campaigns, and which platform are you running them on?

Very helpful @Chris K. Thanks so much!

Hi all!

This is a fairly straightforward situation that I'm sure many people encounter.

I have a full-time job and am new to investing. If I were to buy a rental property that rents out for $500 less than expenses (mortgage, repairs etc) each month, will this loss lower the taxable income from my job? I think so, but would like to confirm.

Thanks so much.

Thanks @Arpan Patel. To clarify, are these 3 different ideas?

• rental
• investment @ 12%
• investment @ 9%
  

Hi there!

I recently took Brandon's online course, which was really educational. I'm now trying to get this investment ball rolling, and would love to get your thoughts on this question. What would you do if you had:

• $1,500 in monthly disposable income.
• $50k spread over three 401k accounts.
• Excellent credit.
• FHA loan on your primary (and only) house in Washington DC, with $200k in equity.

The goal is to generate an additional $1,500 post-tax income by the end of 6 months.

Thanks so much for playing! :-)