All Forum Posts by: Joval Mathai

@Joval Mathai

I recommend finding a tax strategist that specializes in real estate taxation and STRs. You may want to consider working with your tax strategist remotely to expand your options.

I would also recommend looking for a tax strategist who is willing to work with you throughout the year, not just when preparing your tax return. You want an accountant that can help you strategize and who is responsive when you want to know the tax consequences of the decisions you are making throughout the year.

Good luck in your search.

Really wouldn't recommend Turbo ... for your scenario, you have several interesting facts that the prompts and questionnaires are not best suited for.   

Sounds like you are just getting started. Finding a lender to finance a ground up construction project will be much harder than a lender to finance a fixer upper when starting either venture. Time value of money will be in favor of a fix and flip as well. Two great strategies, but fix/flip is a much easier barrier of entry. 

I'd recommend start looking at different deals. Find a market you want to invest in and get on some list. Start analyzing the properties. When a property comes your way that is a good fit for your criteria wether you decide to flip it or hold it, then take action. While doing this, network with lenders and people who use the strategies you are considering. Also, listen to podcasts and read books. The real teacher is experience, but having the theoretical knowledge to apply is better than figuring it all out as you go.

I would not try and start with building from the ground up.... 

You can't compare profitability of developing land vs. renovating and re-selling a single home or quite frankly any other asset/investment strategy. Any strategy can be successful as long as the opportunity is acquired correctly and executed upon properly. Ultimately, the acquisition and the human capital involved is what will make or break any real estate investment.