All Forum Posts by: Account Closed

Good afternoon,

I want to build a team for in investing in the Dayton Ohio market. I have what I believe to be enough starting capital to at least get my first deal done. While I lack experience I more than makeup for it in enthusiasm and determination. I have read and watched every book and videoI can get my hands on for the least 15 months but haven’t as of yet have not done a single deal. I know there is no such thing as ”the perfect” deal but I seem to have analysis paralysis.

I hope I'm not the only one to experience this...

Bottom line I need help and I figure this would be a great place to start. I work two jobs and don't have the time to manage the ”day to day” of property myself so would greatly appreciate any good property manager recommendations too.

V/r

The new guy

@Michael Plaks

Thanks for the information using And IRA is a option I will have to explore

Follow up question

If the income is taxed at the entity level and I don’t take a distribution it wouldn’t not show on my personal tax return correct?

I am in a position where I don’t need the income right now but rather the properties are part of a long term plan for transitioning from employment to living off my property investments

@Ashish Acharya

Thank you

Yeah I like the idea of cash flowing properties but at this point I don't need the cash flow they would generate. I'll have to look into other strageties untill I have the money avaiable for a deal that I can use to transition from my day job into

Hello

Let me state upfront this may seem like a rather strange question.

I am looking to expand my portfolio but I currently don't a need for the rents income. If I use it exclusivly to pay the debt on the property will the rental income still be subject to tax?

I currently have a comfortable salary and have no need for the income. I would rather accelerate the payments of the debt so I can expand quicker and acquire more property

I don't want to begin to draw from the properties untill I can take enough to leave my job entirely

Any guidance or feedback would be greatly appreciated

V/r

The new guy

Hello,

I've been researching real estate for what feels like forever. I pretty sure I have analysis paralysis

But I've found a property I would like to invest in but

I feel I may be punching above my weight

Is a apartment building with 25 units

I've run the numbers mulitple times as I was sure I missed something cause it comes out to be a great deal.

There are a few hurdles

1. It would be my first deal

-but we all have to start some where

2. It's out of state

- I don't want to invest locally. where I live (NY) property values are sky high

3. I (relativity speaking ) don't have much capital

- my income is high but I don't have a lot of liquid cash saved up

4. My business doesn't have any established credit

- my credit is pretty good (720+ )

I'm just asking is this even feasible? Or should I aim at something smaller.

I would like to have a portfolio of multi- family properties in the mid west that are managed by a local property manager with minimal involvement from me.

Any help/guidance would be greatly appreciated

Respectfully and humbly

Larry aka the new guy