All Forum Posts by: Account Closed

Chris Martin - Of course I want a profitable business.  I have an MBA and a nice corporate career so I understand the importance of running a lean operation.  That said, expenses do occur and I want to minimize my tax burden.  Your point is well received - I'm not going to be spending like a member of Congress - I'm far too conservative for that nonsense.  

I am actively seeking investment properties (buy and hold) in the Raleigh, NC and surrounding areas (A & B neighborhoods predominantly) and need insight regarding how to structure an entity that is tax advantaged.  Currently when I meet with real estate professionals, interview contractors, discuss investing in real estate with friends/family I cannot write off any of the expenses on my income taxes - some of my friends who own businesses write off a reasonable # of meals (where business is discussed), they also write off their vehicles and other expenses that pertain to their businesses.

Any insight from REI's who have experience? Appreciate your help.

Are you in Raleigh or KC?

CPAs & LLMs on this board, have you read the proposed (maybe fully approved - I have not looked at the news feeds lately) Tax Law changes and how they will affect Real Estate Investors?  My question is a general one but I will apply it more specifically to the Raleigh, NC market.

@Guillaume D. Thank you for sharing your very high level story.  Hearing about the reported success of others is great but too many posts are far too high level for anyone else to benefit.  It's like saying I increased my flat bench from 315 to 385 in 12 months without giving any details - good for me but no one else can benefit unless I lay out what steps (specifically) I took.  

Your replies mention off market deals; how did you find deals that worked well for you but that no one else had access to or your were smarter than everyone else?  You used other people's money?  What type of financing?  How did you establish the necessary relationships.  

I am not calling you to the carpet, simply sharing the perspective of a relatively new REI trying to learn from the success of others. A smart person learns from his mistakes, a truly wise man learns from the mistakes of others.

Need recommendations for a few mortgage brokers who are experienced working with investors.  I grow tired of inexperienced mortgage brokers who are not knowledgeable and brokers experienced working with real estate brokers who lack the patience or the vision to establish a working relationship (to include helping educate me) with me (plan to buy several units/year for the next decade plus (assuming the deal economics make sense).

Thanks in advance.

Mark - regardless of property type? i.e. doe sit matter if I purchase a SFH vs. say a trailer park? Same approximate rate?

Ready to start buying (buy and hold strategy - SFH, Duplexes, Quads, Storage Facilities, Trailer Parks, small Apartment Communities) and meeting with mortgage broker next week. Question: is there typically a relationship between interest rate (fixed rate, 30 year) for owner occupy vs. investment property? For example, if current rates on an owner occupy 30 year term are ~ 3.6% should I expect the rate for same term investment property to be 4.6% (or 100 basis points higher)?

I appreciate any insights.

Hi @Bryan Chuchta & @Eric Weireter I appreciate the recommendations.

Can anyone in the Raleigh, NC area suggest a good CPA experienced working with Real Estate Investors?  I am looking for 3-5 names so I can interview and select 1-2 with whom I will do business.  I appreciate any recommendations.