All Forum Posts by: Ed Moran

Question is for folks that are 150K in earnings and investing in Real Estate as a passive investor and NOT designated as a "real estate professional. I currently have apartment complex (MFH) in FL and about to purchase another MFH in an Opportunity Zone.  I have a property management that runs this business since I have a full time job. I would LOVE to quit my job and become a real estate professional so I can write off passive losses against my income but that isn't an option. 
What are some tax advantages, best practices that I should be aware of as I'm trying to lower my tax basis as much as humanly possible -Being a "high net worth individual" limits this.  Any best practices would be welcome. Thank you. -Ed 

@Lee Ripma Hi Lee mind telling me who you use for your cost seg and do these folks needs to be local to the market in invest in? Also if you can let me know any best practices or tips that would be great. Thank you. -Ed 

The correction is coming....

1% is most up and coming markets are there but hard to find - if you are getting anything above that you are in very small submarkets and most likely picking up distressed properties.  Folks getting 3-4% sounds like an anomaly bur sign me up. 

Does anyone know how much it cost per lead or list?

Hook a brother up??? Looking at Indianapolis 

I’ve been quoted 5.5-6 for conventional but looking for better rates let me know if you come up with better as it has been a challenge 

I am not a lawyer BUT I play one on TV.  The reason I would use a land trust is anonymity.  If they can't find you that cant sue you - It is not a vehicle however to protect you against litigation. "With a land trust, no one needs to know what real estate you own either during your life nor at your death. By using a land trust with an attorney as a trustee, there will be no public record of your ownership of the real estate in the trust. ... The property will be managed by you or by your agent"

"You get an LLC.. I get an LLC...EVERYONE gets an LLC!!!" -Every lawyer ...best thing to do is do a land trust and umbrella policy and if you are REALLY anal then LLC that *****.

@Joseph

@Joseph Bodek just viewed your videos - probably simplest explanation of lease options- easy to understand and follow  thank you. -Ed