All Forum Posts by: Daniel Y.

Hello Mark,

There are a handful of TX investors here, that probably protested their property tax. However, now you are asking about commercial which is more specific. The best and fastest way to get your answer is to talk to multiple property tax protest firms, you might be able to fish for your answer or at least you could hire them and they can take care of it for you. I will say, I'm not sure how they would structure the pricing for commercial. However, for residential properties, their average fee is 40% of what they saved you. So if we used your 30k example, and the tax rate is around 2.8% then your increase in tax is $840. If they were to eliminate that 30k increase in assessment completely, then you save $840 and they would invoice $336. They would take care all of the work, so not only research but if the appraisal board requires a meeting to discuss then they would show up to represent on your behalf. If they are unable to save you anything then you won't have to pay them as they work off of that 40% commission. Some other ones that structures it a bit differently, but you pay is still about the same. Again, this is for residential, hopefully they can help you with your commercial and the structure will be similar. Good luck!

Yeah, I'll PM you.

If you are saying that you don't know any conventional lenders that would give you the very best rates and terms without doing a 2 yr income verification, or have a slightly loosen criteria, then you are correct. However, if you are looking for options that are still decent and close to what you can get for a conventional (~1 pt more) then people will know. It just depending more on the details, that is why I suggested going to a meet up to ask people.

Hi Anthony,

I think you will be fine with your current setup. Just need to find the right options. I see that you are in the Orange County area, do you visit any of the meetups? If not, that is a good place to go to get some advice. You can find me at some of the local meetups either getting help or offering some advice. If you can't make one of those, let me know if you would like to meet up sometime to talk. I am sure you have a lot more questions, and if your question was as easy as a simple "Yes" or "No" then I or someone else would have already answered it on here.

I agree with Lindsey regarding Long Beach. Huntington Beach is overall pretty safe, good schools, and lots of things to do (I live around there). However, you will probably get better returns in Long Beach and you can find most of the things in HB right in LB.

Hi Bob,

Unless your property is in South Dallas, then you really should have to worry about asking for 3x rent based on gross salary. We if look at it, you have a 3 bd/1.5 ba SFR, so most likely small families of 3-4 people will be looking at your property. If it is a dual income family, which most are, that means each parent needs to have a $12.75/hr full time job. In a strong population and job market, I think that shouldn't be too much of a problem.

Daniel

Hi Austin,

I invest OOS, have a full time job in Irvine, and pass by your company everyday to and from work on the 405. There are a lot of meetups in OC. Let me know if you want to meet up at one of these events or meet up sometime just to talk.

I agree with most people here, instead of picking up another job. Use that time to focus on building your real estate portfolio through the different strategies. That is what I do with my time before, during breaks and lunch, and after work.

Daniel

 Too good to be true. Thanks for the input on that.

 It actually increased to 15,000 for 2018. I checked before I posted that number previous. 

https://www.irs.gov/businesses/small-businesses-self-employed/whats-new-estate-and-gift-tax.

Easiest or best way? The easiest way is what you said. The best way, if it is not too much trouble for them although this will save them on tax, is for them to give you 15k only and it will be tax free (look up gift tax exclusion). Then they can loan you 85k at 0% interest, make sure you pay that back or you take the tax hit and they get to write off a lost. Then you just repeat the process next year, they give you 15k, then they lend up to 70k at 0% until they fully give the entire amount.

I am not a CPA, so please check with your CPA to help that people not pay extra. Any CPA on here, feel free to check my logic.