All Forum Posts by: Jon Perkins

@Nick Giulioni I'm just starting my journey and would love to learn from your experience. Just briefly, I have 2 properties in Pensacola Fl. I bought them under my name and credit. My wife and Ire at 225k with our w2. Properties are un PM so we are hands off. Any advice on the next step would be great. LLC? Asset protection, tax avoidance. Anything is helpful. We have great cash flow but sounds like the tax man cometh for it. Any tips to dull that blow?

Ok. So I've started my real estate journey with yhe purchase of 2 sfh rental properties in Pensacola Fl. My wife and I are high money earners (I guess. We live in CA so doesn't feel that way) at over 225k annually before inuding rental income. I've since discovered that there are some significant issues around deductions and depreciation with the rentals that could potentially destroy all profitability from those rentals. Any advice or stories about your experiences with this would be appreciated greatly.

@Kamil Baldyga appreciate the info

Ok. How many doors did you have before acquiring an LLC or some other asset protection?

@Colton Hahn thanks for the reply. Any particular cities between them you like more? P.s. my grandsons name is Colton so I like you already. Lol

Can anyone in the Pensacola area offer advice or information on locations (good, bad, awful, etc) for a 1st time rental buyer? I live in CA but have a great handyman type moving to the area and would like to get into the rental market there.