All Forum Posts by: Kevin K.

I was talking with a friend and we discussed something that I havent really considered before.

He claimed that he was underwater on his house because if we wanted to sell it he would only be able to sell it at market value while still being significantly underwater on his loan because he would be required to pay both the principal and the 30 years of mortgage interest to the bank. So in essence, if he bought the house at $175,000 and with 30 years of amortization he would pay a total of $250,000 over the loans lifetime; as a result he would make no profit unless the house sold for >250k. 

It may be a pretty basic question, but I havent considered this before. I was under the impression (perhaps incorrectly) that if you bought a property you would only be required to factor in the principal (and closing costs) when you sold the property. I thought the buyer of your property would inherit the bank's mortgage loan (and the interest over its lifetime) and at that time refinance as they saw fit. 

I hope this question made sense, any insight regarding this would be helpful. 

Hello, pretty self-explanatory question but I'll flesh it out a bit. 

I've been reading the bigger-pockets tax strategies book and it got me thinking...

I currently do not have any properties or any entities. However, I do have every intention of starting this endeavor sometime in 2018. I have purchased several books (recommended from this site) and have been working through them. Can these books be written off? What about if I visit properties for research or use any of the other mentioned strategies, do I first need to buy a company / create an entity?

Thanks! 

Hello, 

I'm discussing with a friend possible ways for us to pool our resources and start investing real estate together. We want to eventually start buying multifamily property, moving into it, and then renting out the other units. 

I know as an individual you can get a primary domicile type of mortgage if you live in the property for a period of time and rent out the other units. If we form an LLP/LLC for the legal and business protections, can we still buy the property in this manner if one of us lives in it?

If yes, since there are two of us, could we have one property, live in it, buy a new property, and then have the other partner move into the other property (inhabiting it) and have that count as another primary domicile as opposed to a rental? 

Also, I'm active duty military as of right now. Any insight into how VA loans could be involved would be helpful!

Thanks! 

Well, like the others said I certainly was anything but focused on finances when I was 14... Though, I had a good amount of money on World of Warcraft. Good stuff. 

I think right now, I just need to have an overall picture of the system. Understanding the legal parameters and grasping the big-picture pros and cons to each approach. Like anyone else, I want to have the largest gains with the least amount of risk. Obviously, if such a thing existed the market would be over-saturated. So perhaps having a strong reliable stream of passive income coming in and being an expert in that particular area to mitigate the risks is most appropriate.

I'm at the very tail end of my military obligation, so the first and most immediate goal is to develop some human capital so I can have a good primary source of income and then grow from there. Real estate and stocks are my main areas of investment interest and this seems like a great hub for the former. 

Hello! 

I'm (brand) new to this community. I actually was doing my due-diligence and doing some research on TheLandGeek and google led me to a rant thread that brought me to this site.  I noticed a lot of informed and intelligent responses to the poster's complaint and I thought this community seemed like a well-informed and knowledgeable group. 

I have just started taking my finances seriously, I'm 25 years old (wish I came to this realization earlier when I was... 12) and I have been trying to find the best ways to let my money grow. I have, from day one (let's say October 10th actually), aimed to make informed decisions and go about everything in a prepared and studied manner. My first move was to put money into the stock market. I have been reading books about stocks and investing, following people who I feel are pragmatic and honest in their evaluation of companies and the market in general, and followed up by reading the SEC filings of companies I invest in. I'm not investing to make a quick dollar, I am investing to maximize my returns and master the areas where I put my money. 

That aim to master my respective areas of investment has led me here (accidentally). I have had an interest in someday buying property, I cannot afford it at this point in my life, but in the future when I have adequate money to make the move I will certainly consider it. Until then, I want to learn as much as I can so once the choice is made I can approach the market an expert in everything but actual hands-on practice. 

I am here to learn and make connections.

So, where can I start?