All Forum Posts by: Jared Forman

Joseph,

You always find great topics to discuss. Looking forward to it.

@Brandon Hall, @Taylor Brugna, @Daniel Hyman@Thomas Castelli, @Linda Weygant, @Lance Lvovsky, @Ben Raygor, @John Woodrich, 

@Account Closed, and all other accounting professionals

Gentlemen & Linda,

We have all been gathered here to discuss the GOP TAX REFORM. You are all accounting professionals with great knowledge about  the future of US tax code related to real estate. I need your help.

There are 195 replies to the original post and a wealth of information. Since taxes is everyone favorite subject, I have made a 1- pager to be added to BP for everyone who doesn't enjoy the fine details. 

Can you critic and make recommendations for the 1-pager?

Thank you,

Merry Christmas, hope you enjoy the formatting!!!

https://drive.google.com/file/d/1xfCQcP-Vfqk9Qjk4JyLcUBZCghp_qXhu/view?usp=sharing

@Tyrel McAllister I have been active in both and could not advise you on your personal investment decisions...

My personal philosophy is that you must understand the cryptocurrency/ blockchain to invest in it. If you do not understand it then you are gambleing on others people.  I myself do invest in cryptocurrency, but believe in the future of it. 

The price of bitcoin is rising/ falling because:

1. People think they can day trade it

2. whales

3. People get the heebie jeebies about the prices

4. The value of countries currencies

Welcome to the community.

Michael the first step to real estate is education. Work on developing your knowledge, put yourself out there and check out a place or two.

If you have any specific questions about the Philedelphia market, real estate jobs, different machines to invest, ect you can reach out to me. 

My background was in engineering before going into real estate full-time and I enjoy working with new people. Even if you are years away from investing still start educating

@Latasha Parker Househacking is an excellent way to get into real estate. I like how you can buy a property, live in it, and have someone else pay for it. Like Kelly said, tenants are everything and will make or break you in real estate. Make sure you screen your tenants very well, try to put all emotions aside when interviewing. Second point, make sure the numbers work. Test the numbers in many  situations and see if it still works. You need to be prepared for all situations. 

Riverside Abstract does an excellent job. They are always on top of everything and very responsive. Send my friend David Bernie an email and you will not be disappointed.

I do not get any perk for recommending you to Riverside Abstract. They have done an excellent job on my projects.

Jorge, I am an agent who focuses in the Philadelphia area both on and off market real estate. Let's connect and talk about your goals.

Coco,

All the other posters have brought up great opinions for you to analyze. These are opinions on what each persons exit strategy would be if they were in your case. 

Stop and think rationally...

You need to take the time and rationalize what you are about to do next. Write down the core problem you need to solve!

Is it that your mom wants to cash out of the property?

Is it that your property is causing you to lose value?

(This is going to take more than a day to solve)

Now that you have a rough problem statement you need to write down a list of potential solutions. The other posters in this forum have brought up some great potential solutions. When you write down possible solutions it does 2 things for you. First, you are forcing yourself to connect your thoughts and rationalize your emotions as to why you think it is a possible solution against your rational. Second, this list allows you to visually the possibilities against each other.

Go Deeper...

Take the top 3 possible solutions and go deeper. 

Do some background research by reaching out to the experts in your area. Talk to your local government about what is happening in the community and find out what is happening in your community in the next 5 years. Talk to a few real estate professionals about what your house is worth, what buyers are looking for, how to leverage your current property, ect. When I say real estate professionals i am talking about anyone from an investor, a realtor, a mortgagor, anyone involved in real estate. 

It is awesome that you are on BP, now take the next step!!!