All Forum Posts by: Jonathan W.

@Kevin Gray

What horror story? I am paying my lowest tax bill ever thanks to my real estate investments. I benefited greatly from it. I am only hearing people say SALT is the worst thing about it. Not knowing your going to get taxed on a 401k withdrawal like most people are saying, has nothing to do with the tax law. I am thinking aboit taking the hit before the market drops 40% and buying more cash flowing properties or cash flowing businesses.

@Rory Shaffer

No. Exhaust your cheap and easy money. You can can have 4-10 morgage through fannie mae and freddie mac. Just get good insurance until after that point. Do get distracted, buy and good investment and learn before you go big and build and company and have to chase biz loans.

@Benjamin Williams

To be blunt, if your only taking 9 hours and just working part time, you need to work on your time management skills. Yes real estate licenses are great but a large percentage of agents don't make alot of money for the amount of hours they work or the odd hours. They need to show houses when the clients are not working. Do you have good people skills and selling skills to be good as an agent? Real estate is not a free lunch. It takes money to play. Work on growing your skills and yourself while you atleast get your associates degree. Degrees are just a piece a paper and don't hold alot a value after you are working but still get you in the door to making good money if you smart about it. Find cheap accredited school so you and not in a lot of debt. We should look at school by the return we think we will get onnthe time in money invested. If you are truely struggling with your work load, ask for help from the school to help you get better. By all means follow your dream of being an agent if your truely passionate about it, if not find something you love to do and save to invest. If you love what you do, life will be more enjoyable.

@Todd Hensy some may say why keep dealing with renters that may be a headache when you can make a better return or same with less headache.

Correct. He is not owed any of those funds.

Ask the last owner first. See what he says. If he has the rent he would owe you that. If he doesnt ask the tenats for some proof, i hope not cash. Then seek counsel, if cant collect. They might be playing games with you. Did you advise them on January?

after the first. Yes they owe you the rent. If they paid last owner, he owes you that money. Also the lease documents should have been handed to you at closing. If you did not ask for a credit for deposits, make sure you set aside these funds. You now own those deposits. You will be responsible for giving those back and chwck state law because you might have to pay them interest on the deposit. I would draft a letter to give to tenants that say how and when rent is paid and new contact info.

@Medriand Arnold That should be part of your closing docs but if you close on the 31st, then rent is due on the first to the new owner. If you clost after the 1st of month and he collected rent he should be giving the prorated amount at closing.

@Jake Sanders Welcome. Dive in. You will be shocked and never look back.

@Mark Fries have you ever used Alibaba?