All Forum Posts by: Janet Behm

Quote from @Ashley Stephenson:

I am actively looking for an REI-friendly CPA in Nevada and am struggling with where to look and how to know if they know what they are talking about. A BP-recommended tax professional in my area would be immensely useful!

Ashley, what city are you in? I'm part of a mastermind group, with members all over.

Quote from @Eddie Ray:

Im currently looking for a RE tax professional/preparer in San Diego, CA. Obviously they need to specialize in real estate rentals, holdings, and LLC.

Any help and direction would be great! BP would be great too but I do prefer to work in person so hopefully someone local

Eddie

Eddie, contact my friend, Raymond Sawyer, he is in San Diego. He is a tax strategist and uses real estate for most of his strategies.

Raymond Sawyer, CTC

Sawyer Accounting Tax

Sojourner,

I did not mean to offend.

I misunderstood your post.

My intent was "loving guidance."

Sojourner, 

It sounds like you would benefit from some investment training.

Do a deep dive researching "Due Diligence."

Check the National REIA (Real Estate Investors Association) web page and find a local association.

Then join the group. Talk to other investors and ask for guidance. 

Jumping into this deal, may or may not be good. 

Better to let this deal slide by rather than pull the trigger and be sorry for years to come. 

Patience and learning.

Manny,

Having your name on a Quit Claim Deed, is usually invisible to financial aid programs or First-Time Buyer programs. 

The circumstance changes if you "exercise" the deed. If you record the deed, with the county, you are in the public records. Check with your insurance broker too. You are taking on responsibility.

Then your name will be on public record and may be a fraud to apply for aid.

Tony, Specialized knowledge doesn't come cheap.
All of these services have more tax and financial advantages as you increase in 'cash-flow.'
If you are tap dancing around 100K to 300K per year, do an internet search for a local Certified Tax Coach/Planner.
They are engineered to do Tax Strategy for a set dollar bid and an assurance of substantial savings.

Katrina,

Both, WealthFactory and Wealthability have a target market of High Net Worth Clients. For people at that level, they are a very attractive investment. 
Both of them expect you to deep dive into your Business (generic and not focusing on real estate). Deep diving into your business, of course is essetial. Nobody cares about your businesses (Law and REI) like you do.

Think of it like our school system of 12-grades. These two companies are 10, 11, and 12. Many investors are in the lower 9-grades (10).

Let's aspire to wealth building and "graduating" to those types of investor services!

Best, Janet

Ro,

This is a complicated bunch of decisions. 

If you sell, I presume this has been a personal residence for 2 of the last 5-years.  In that case, you and your husband, each have $250K (total of 1/2 Million) in 'exempt' capital gains.  But you will still need a place to live and have that overhead cost.

This is a good time to connect with some professionals. 1. Real Estate Agent, 2. Tax planner, 3. Mortgage Broker.

Go to a website for National REIA dot org and find a local Association. You can find all of the above in that group...plus wonderful connections and educational opportunities.

Do not be locked into a one-year goal.  Due diligence is how you will find the perfect solution...not a calendar deadline. 

This is a very exciting time for you and your husband.  Best, Janet

Alyssa,

The county wants money. They are real people and may be compassionate. 

But this is business. Collect the documentation. If the value difference justifies a new appraisal, that is irrefutable evidence.

We have successfully presented our case and had the county adjust the value down substantially. 

It is ABSOLUTELY worth the effort.

This is Lynn, I am referring to Janet Behm, who is a Certified Tax Coach and licensed by the US Treasury Dept. as an Enrolled Agent.
She knows tax strategies for real estate that most tax preparers have never heard of.

This is the classic: "You don't know, what you don't know."

Check out the website for: American Institute of Certified Tax Planners