All Forum Posts by: Jordan Sunshine

@Dan McMoore I'd love to sit down and talk with you about your past experiences with real estate and pick your brain about tax liens and foreclosures etc. Maybe we can find a way to help each other out or learn from each other. If you're interested feel free to send me a message.

Looking forward to hearing from you!

Jordan Sunshine

@Danny F. Haha I was in the middle of writing you a Colleague Request and just finished hitting send as I saw your request!

Congrats on the move to Cali, word of advice, make sure you do your market research if you plan on investing there! I hear Cali is very similar to Hawaii but you want to make sure you get a good lay of the land so you know where is ghetto and where isn't.

Also too bad you're moving so soon! If you're interested in attending a networking / real estate investors meet up before you leave, we play cashflow on Monday nights in Kaneohe. Since you're in Eva you don't have to worry about too much traffic getting onto the H3 and going up ^^ Highly suggest attending just to gain some knowledge before you leave. Who knows, maybe one of the investors at the meeting might have tips for your new market or wants to invest in Cali but doesn't have anyone up there!

If you're interested in attending we normally start at 6pm and go till 9pm on Monday nights. Its potluck style so if you'd like to contribute feel free to bring something small or just throw in some money for food when you're there. We normally don't know if we have the place till the day of so message me and I'll give you more information!

If I don't hear from you then I wish you good luck in your endevors!

Honestly as a military person myself I feel for the tenant but as a Real Estate Investor I also have to think about the business. Personally I think if he is willing to open his home to showings and have it nice and tidy each time as well as if he is willing to move out whenever the new tenant wants to move in then I personally don't see a problem with it. Your new tenant will be in the same day he agrees to be out or one day later. That's a great vacancy rate IMO. Now if the house is left messy or needs to be cleaned before hand I would suggest allowing the family to move out but they would be paying rent for the time of the cleaning and renting until the new renter moves in on his first day. This also eliminates your vacancy rate to 1 day. I have done this with one of my leases and its worked out fine. The tenant had agreed to be out by X day and the house needed to be cleaned, carpets shampooed professionally, everything wiped down and scrubbed to perfection, nail holes in walls filled in, etc. before the new tenant moved in. (This was all in the lease) It took them Y days to get the house cleaned after moving out and they paid pro rated rent until the day before the new tenant agreed to move in. The house was double checked the day before the new tenant moved in, it was agreed that everything was 100% and they got their deposit back and only paid pro rated rent for the month. The new tenant was happy that he got in before the 1st and agreed to pay pro rated for the last part of the month plus 1st months rent plus down deposit and he moved into a perfectly cleaned house. There was no loss of money as the last day was paid by the previous tenants and the first day was paid by the new tenant.

Sorry I know that was quite long but I was aiming for the most clear explanation I could give on the best scenario for your situation to make all parties happy.

Thank you everyone for contributing to this thread. Lets keep on topic and continue listing any tax benefits that you might know of to help people who might not be knowledgeable on the subject of taxes or might not see the need to hire a CPA because they do not know what types of tax benefits they are missing out on!

@Ryan Yonamine if you havent already played cashflow id highly suggest coming to a game and understanding the basics on how real estate works. Everyone hosts diffrent cashflow games and has their own rules. I personally like the games that happen on monday night in kaneohe, good environment, great group of REAL real estate investors who are doing deals right now on island, good learning experiences that are always diffrent every week and really good food too! If you're interested in coming just let me know in chat and i can give you more details!

First question is what are you pre approved for and do you already own your own home? Ive spotted quite a few buy and hold properties that could give you ok cash flow but also why are you aiming for buy and hold first? Do you have no intention of getting into flipping for capital gains? Do you just not want the trouble?

What do you know so far about real estate and what do you expect to gain from investing in real estate?

Saved for additional information

Real Estate Tax Benefits

- Buying your first home tax write offs?

- How to write in depreciation to your properties?

- Selling your primary home for 250k (single) 500k (couple) in tax write offs?

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Spouse/Children Tax Benefits

- Adding people as your dependents?

- Buying a Child safety seat can get you a 50$ refund if you show your receipt. (In some states)

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Business Tax Benefits

- What can you consider a business expense? how do you prove it? How do you write it off?

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Military Tax Benefits

- Just being in the military is a tax benefit ^^ albeit very little.

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Other Tax Benefits

- I'm sure you know of some! Share the wealth!

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I'm sure everyone has some knowledge to bring to the table but might not know everything about saving money on your taxes so this thread is here to help make a collective list of ways to save money on your tax returns this year. Lets spread the wealth and let others gain in our knowledge of finance so we can all eventually hit our end goals both this year and in life!

Obviously saving money on tax season is a HUGE topic but there's only one way to get it all into one spot and that's to have people post what they know and have someone sort it out as best as possible to make it easier for everyone to read! So lets break it down. I'm sure we all want to know about how to save money on our real estate deals but I'm sure a lot of us have spouses, kids, businesses, or just want to save a few bucks here and there because of the things they bought this year (maybe a new car?) Lets help everyone in any way we can and maybe you'll learn something new in the process as well!

Rules:

1. Please lets not delve into the depths of a single issue. Lets keep this simple and easy for as many people to understand as possible without having to read a whole ton!

2. The more information you can give the better! maybe it's on a single topic or multiple topics but share as much as you know!

3. If someone's information is wrong, don't flame them, just kindly correct them and share your facts on why you believe you are right. If you get corrected, just live and learn, don't argue back. :) We're all wrong once or twice in our life!

4. Lets get this thread out to as many people as we can! Remember, keywords are a great way to bring people into the conversation without actually having to individually tag every single person but of course if there is that one special person you want to invite to the party feel free to tag them as well! I know I want as many people in Honolulu / Hawaii / Oahu / Big Island / Maui / Kauai / Molokai and all over the United States to be able to read this and benefit from it. What areas do you think need the most help? New York ? California ? Florida ? I'm sure you see where I'm going with this ;)