All Forum Posts by: Morgan Hill

It seems there is a shortage of CPAs... Especially ones who know what they are doing.  All I want from a CPA is to understand real estate (I am a real estate broker with rentals/flips) who can pick up the phone when I call to ask a question(maybe 2 times a year).  My current CPA incorrectly filed my taxes as a C Corp instead of S Corp and now I am on hold with the IRS trying to fix it.  In the meantime, I seem to get quarterly bills for $900 and I'm not really sure what they are doing.  I live in northern California.

I recently stumbled upon this email that informs me of national real estate trends and it has helped me sound smarter in front of my clients.  I am not affiliated with them, just thought I would share. 

https://www.zeroflux.io/subscribe?ref=3kTYLFYsAK

@Mikael Winkler, @Remington Lyman, @Nicole Heasley Beitenman, @Andrew Weiner, @Raul Velazquez Jr, @Zeke Liston, @Ryan Hill I appreciate all of your feedback.  I was surprised to find so much after getting home from work!  The example deal that I mentioned I was looking for was actually one that I found with a wholesaler in Columbus.  Regrettably I passed on it unsure if it was a real deal, Turns out it was!  I like Columbus in Ohio but have concidered cleveland...  Dayton has amazing deals but something has to be wrong there... One wholesaler offered me 5 properties/9 doors for 110K...  In texas I like san antonio but the market is a little rich for my blood.  Killeen and Waco, Texas are much better cash flowers but I'm figuring out the line of how getto do I want to go.  Getto = cashflow I have found and every investor has a line.  I have been looking for a property for 1.5 years.  I have read every book and listened to every podcast and I even became a realtor.  I need to pull the trigger on something but haven't found an exciting property recently.  Part of me wishes their was a cheap cashflow market closer to the west coast but all the good ones seem to be back east.

1 rental per kid. That's my goal and i'm behind.  I have 50K at my disposal.  I live in Nor Cal but California seems utterly hopeless for my price range and cash flow ambitions.  Texas or Ohio seem promising.  Ideal find would be a duplex for 80K that rents out 800 per side.  Timing is another concern.  2020 has been a train wreck and i have heard of an increase in tenants not paying rent.  Interest rates are amazing but its not as amazing for investor loans.  With the second wave of Corona panic/shutdown this fall combined with the election season I feel utterly bamboozled as to if I should pull the trigger on something.  Any tips or advice from fellow investors would be greatly appreciated.