All Forum Posts by: Matt Gomez

I have seen the prices on the lower income properties in New Castle and the cash flow seems pretty decent. Can anyone provide any advice on which streets/neighborhoods I should be looking for property on so I don't waste time looking at houses on eviction row?  Also, I have read other posts regarding property managers from years past and most people said there weren't any good ones out there. Any new recommendations?  All advice is appreciated.

DANG IT!!!!!!!!!!!!!!!!

thx.....

Quick and easy question (hopefully). If I make say 10k on an assignment fee, maybe do that 3x, then buy a 30k rental property, would I need to pay taxes on the 30k income even though I reinvested it into real estate??

Very informative. Thank you very much. I will need to get a tax person for sure now.  The last 8 years I've just Turbo Taxed my way through with my normal career income, but this is going to take someone smarter than me and Turbo Tax. 😃

I'm new as well, but I thought you needed 25% down if it's an investment property?  Am I wrong?

I am new to the game, but I have 3 rental properties since November 2019. I want to form an LLC to protect myself. California is the worst in regards to cost for LLC's. (It's bad at many more things too...) I have read Delaware is the most LLC friendly. How does this work? Would I form one in Delaware, and do a state tax return there every year, or would I have to do a tax return in Ohio since my properties are there? And I have a regular job and already file federal and state in CA.

Can someone explain to me the process.  It's all easy to do on Legal Zoom but I don't want to screw it up. Thank you.

-Matt