All Forum Posts by: Ricardo A Perez

@Chris Seveney I meant to write not clear. 

@Chris Seveney sorry I was clear yes, I meant rental income. 

@Nicholas Aiola thank you for consolidating all the responses and providing me that explanation. I can see how complex it can get. I will not be doing it DYI. I am planning on leaving it to the professional as your self. I plan to invest in Massachusetts in 2021. Do you do take on clients in Massachusetts? 

@Brian G. just want make sure I am on the same page as you guys the depreciation you guys are mentioning. I was reading in a book that the IRS allow you write off 27.5 years of useful life as the depreciation period. Is that the depreciation formula CPA’s use ? 

@Eric James thank you that gem ! I did not know that. 

@ Victor N thank you so much for the explanation. Just like I expressed to @Derrick Dill now I get way it is important to get a CPA on your team. Thank you guys ! For breaking that down. 

@Derrick Dill thank you so much for that explanation. Now I understand why everyone keeps saying make sure you get a CPA. 

Hey BP family ! Any CPA’s out there lol  .  I am a new investor and I have been taught the formula goes like this Income-expenses = cashflow but, my question is do you pay taxes on that “cashflow” ? If so, how much should I be setting a side to pay on taxes. Thank you in advise for responding ! 

@Vincent Morales thank you much for sharing you experiences ! Took a lot of notes from it. I sure you will kill it in the future !  

@Alex Kehaya i think my long term strategy is to get my licence so i can just put in my offers and offer the 6% to the selling agent.