All Forum Posts by: Mariah Jeffery

I definitely agree with James. In addition, people are moving to Cheyenne from Colorado to take advance of lower tax rates. Vacancy rates for residential rentals are very low.

You asked about alternative strategies. In Cheyenne, furnished rentals near the hospital can get leased at a premium to traveling nurses in about 3 month intervals. They're typically good tenants and tent to pay the rent on time.

Don't assume areas that have experienced strong appreciation in the past will continue to experience strong appreciation in the future. You may just be overpaying when you buy there. Now that so many are working remotely, people are leaving expensive areas like San Diego in favor of lower tax and lower cost of living areas. 

I'm on of these people. I left Portland, OR for Cheyenne, WY and haven't looked back. Cheyenne is seeing a huge influx of remote workers from Colorado moving just over the boarder to save on taxes. Cheyenne hasn't seen the greatest of appreciation in the past relative to other areas. I predict it will in the future (and it already has started to).

The passive income that real estate investing provides has given me financial independence and the freedom to choose whether I want to work or not. I continue to work because I love what I do, but it’s freeing to wake up every day with a choice.

Thanks for sharing your story. Can you elaborate on how you networked and found partners? My husband and I have been in RE for 15+ years now and own several residential and commercial properties. We'd love to scale, but we never have managed to find partners with enough cash to invest. I have a real estate license here in Wyoming now, so I'm hoping this may present some opportunities, but I'm curious to know how you went about it.

- Mariah

Does this affect your opinion of investing in a Family Dollar or Dollar Tree building? I've been looking at a Family Dollar that claims to be among the top 1% of Dollar Tree stores. I assume if they were going to close one, it wouldn't be this one. But it is in BFE on a reservation. It claims to have a 7.5% cap.

https://www.businessinsider.com/dollar-tree-closes-hundreds-of-family-dollar-stores-2019-3

All,

My husband and I own 28 rent units in another state. I co-manager these with my father-in-law. He is local and does showings and maintenance, and sends apps to me for processing. I do the advertising, and have to coach him through anything legal or financial. We also have a ranch that we lease out. My primary job is teaching college courses online part-time. 

We are considering some additional investments that would mean I would be more involved in the real estate. One of them would essentially be a full-time job for about 10 days out of the year, plus some marketing and book-keeping during the rest of the year. If we purchase this, I am considering declaring myself a RE Professional. I have no problem meeting the 750 hour requirement. I may be on the fence with the > 50% requirement. My husband actually suggested cutting back on my teaching responsibilities so I am spending less time on it. We paid $71K in federal and state taxes last year, and we estimate we could save about half of that through writing off losses such as depreciation and mortgage interest. Currently, we're unable to write off losses due to income, and have a significant capital loss carry forward. It seems like if I spend less time teaching and reduce my income a little, we could save quite a bit more in taxes. What am I missing? 

Would it be beneficial for me to get my RE license to strengthen my claim to be a RE professional? Could I find a broker to sponsor me to be a real estate agent for just a few hours per week? Or is this unnecessary? 

Thanks,

Mariah

Yes, it's a duplex. Good suggestion.

I'll add that the process server tried every day for a week and he never went to the door. That was almost a week ago and we still haven't received the paperwork we need to request an appointment with the judge and then it will probably take a week to see the judge. The we get the ad in the paper.

In SD the tenant must be served the 4-day summons in person. He refused to answer the door and no longer works where he worked when he moved in. Now we are waiting for an appearance with the judge to get permission to put an ad in the paper to start the 4 day process. After the ad runs it will take about 2 more weeks in the best case.

He's definitely still there.

Hmm, good point. I see a high of 18 degrees next week.