All Forum Posts by: Jeffrey Almonte

Welcome to BP @Allison S. ! I was in a similar situation. I joined BP YEARS ago and was a lurker for the longest time. Once I became more active on BP, it helped my real estate investing tremendously. Congrats on becoming more active! :)

There are great answers in here already. Being a "Real Estate Professional" has great tax benefits if you qualify. If so, you can have even more tax benefits with cost segregation.

There have been many posts on this. I think I see one almost every other day lol. This downturn will happen eventually, no one knows.

I have a friend that has been on the sidelines for the stock market since 2013. He has missed out on some great gains, even with just completely passive index funds!

Don't over leverage yourself, have a healthy reserve fund, underwrite conservatively, and make sure you're in a market with strong employment. If you bought right, you'll be just fine :)

Hi @Khenan Newton ! As others have mentioned, there is no need to have an LLC for each offer. That would be very expensive and time consuming lol.

Definitely study and read a lot. Wholesaling requires you to be able to properly price properties to know how much to offer and costs for rehabs. Reading a rehab and negotiation book would be useful.

Best wishes for your wholesaling career, you're off to a great start by questioning your "mentors"!

Welcome to BP @Dwayne Dilbeck!

As Dmitry mentioned, the Solo 401K is a great option. I'm planning to switch to a Solo 401K soon. 

The $800 FTB for the IRA LLC could eat up into your profits.

@Devin Otway, welcome to BP! It's great that you are going straight into multifamily. SFR rentals are not a perquisite to investing in multifamily and I'm glad you identified that.

Feel free to reach out for any questions, best wishes in your investing career!

Without knowing your wife and your relationship history, I would recommend talking it out with your wife. Let her know your bigger vision for the both of you and present several options. Then listen to her and get her to talk as much as possible to see her vision.

Perhaps take some money out of the business to celebrate every now and then so she feels rewarded and part of the team.

Best of luck @Joshua D.

Welcome to BP @Kyle Affronti! There's a ton of great information available on this website, best of luck in your investing career!@Kyle Affronti

Welcome @Jorge Patino!

I used to live in West Covina and Chino Hills, not too far away from you. Feel free to reach out if you ever have any questions or want to chat real estate.

@Tommy Hoang and I are excited to have partnered on this deal. @Ben Leybovich and @Sam Grooms are some of the most hard-working people we know, success is well deserved!