All Forum Posts by: Luke Maas

Are you attending BPCON2023?! If so, what are you looking forward to most? 

PS: Registration is LIVE TODAY!  Get your tickets and book your hotel today because we will sell out!!

PPS: If you register now, you get early bird pricing. LET'S GO!

If you qualify for conventional/traditional financing, then I'd go that route. In the event you don't, then a DSCR loan is your best option. The down payment is 20%, max leverage is 80% LTV on a purchase with most DSCR loans.

Hi @Luke Maas

What is the typical purchase price on your rentals? That will be helpful to know so someone can point you in the right direction. Most Nation-Wide DSCR lenders should be able to help, assuming the purchases meet minimum loan amounts.

 I would say once it can support paying the $2k-$3k a year for them to dig into just the real estate for you. Once I get to a point that it is making enough per month that I feel comfortable taking money out of the business that would be when I get to the point that it is worth have a specialist assist me in all deductions, credits, and future items that will help me to transfer from a W2 to working for myself fully. Then i would probably want a CPA firm that has specialist that know the state laws for my portfolio so I can benefit even more. Until then, the general Knowledge a tax accountant has on real estate will be sufficient for the price and benefit I get. 

I think my personal guideline will be 10 properties, or $2k in cash flow a month. At that time, i will have the knowledge and network to expand and build my portfolio at an increasing speed and then it will be part of my growing pains for my business.

I will most likely have that CPA do my returns for the real estate and then have my Tax Accountant still do my Personal, helps with Checks and Balance and cost savings.

In College I worked for my Tax Accountant for 3 years until I graduated and got a offer I couldn't refuse. I do my own Bookkeeping for my businesses and my clients and recommend him as a General Tax Accountant. Right now my real estate portfolio is not big enough to justify a Real Estate CPA or Tax Accountant yet. 

Happy to recommend him if anyone is looking. Please reach out for his info.

 Happy to chat. It's not as mainstream compared to other markets. KC is a great area. The new 1.5B Airport was just finished a couple weeks ago. There is also a street car system being built that'll rub North/South in KC. It has seen a lot of appreciation and rent growth with a lot of room to grow. It's a good mix of cash flow and appreciation. I think it'll be more popular in the coming years