All Forum Posts by: Johnny Quilenderino

@Thiago Zanetti I'm with @Russell Brazil these are low. Once you really get into investing and such, your CPA costs will cap out, but they will increase as you grow and buy more properties. 

Some CPAs will charge per LLC, some per PROPERTY!!! Find out what your CPA is going to charge as you expand.

Everyone had a rough year last year, let's turn it around and rock out 2021!

@Moriah Giles.

Check out the following people

Tom Ferry - sales and marketing

Brendan Cane - internet marketing

Looking forward to your success

@Anne Barkow what area in arlington? There are many by laws and zoning rules that are in Arlington.

@Nick Thomas send me a message, I am in the area and understand this market. It is very localized and depending in how close you are to 495 or inside the beltway.

Here to help!

Cheers,

JQ

@Zander Kempf I own 27 units, plan on 8 percent and then about 2 or 3 percent on things like smoke detectors certs and such.

@Angel Olivo what are your numbers ie ..

. PITI, plus monthly maintenance, and 8 percent of property manager.

I had to the same thing. My wife did not want it so I kept it. 13 years later I have over 100k in equity.

Look at it holistically, analyze the appreciation, debt pay down, can you manage it a few years and such. If you keep it, get it in writing from your wife that she wants nothing from it. I gave up a brand new car for the house, then paid 10k for her downpayment.

Just something to think about.

Absolutely possible!!! Most agents that start with a smaller sphere of influence, work a "side" hustle!!

@Dave Foster great to hear from you! Yes, that 1031 was an easy one on the books. Might look into another one a little bit later!

@Ryan Jones As for the 1031, something that I was not aware of but you should be "like-in kind" also means who is on the deed! In my situation, my wife was the only one on the deed, so when we did the tax exchange, we had to form a company for her, and she was the sole-owner of the LLC and property. As for the mortgage paperwork anyone can be on that, but the IRS will come after whomever is on the deed for the taxes. Before you do one, consult a lawyer, what I explained above saved me 120k in capital gains taxes.

Cheers,
Johnny

@Ryan Jonesundefined

@Matthew Thomas welcome to the Real Estate club! I travel to Richmond and Virginia Beach about once a month to look at properties and stay current on the markets. I currently live in the Northern Virginia area and looking at either buying again in a few months.