All Forum Posts by: Rod Navarro

@Dan Denis Can you pls specify what is the idea you find "elitiste" & "greedy" exactly and why?

So Kamala wants to win with Populism. She is more leftist than I thought. 

Does anyone one known if this mentions rent cap anywhere? Maybe even a start home price cap? (crazy)

If everybody (no elegibility criteria) gets $25k at the same time but 3 million new housing units gets build in years, the effect is higher prices in the short term, because there is little inventory to support the new homebuyer pool with enough buypower. 

And once the houses are up, are prices going to come down as new units come online but homebuyers pool increases continuously while they all have $25k? Not to mention, we are all financing that with our own taxes. Would be interesting to see if this is accompanied with a tax rise somewhere.  

People coming with their own downpayment is part of the risk management during underwriting for those 30 year loans... this will also likely increase the probability of defaults.

Switching your rental properties to an LLC or electing S Corp status might not significantly reduce your tax burden, as both are generally pass-through entities for tax purposes. However, there are other strategies you can consider to optimize your tax situation:

1. Maximize Deductions: Ensure you're fully utilizing all deductible expenses related to your rentals, such as maintenance, repairs, property management fees, and travel expenses to the properties.
2. Depreciation: Make sure you're taking full advantage of depreciation on the properties, which can significantly reduce taxable income.
3. Cost Segregation Study: For larger properties, a cost segregation study can accelerate depreciation on certain parts of the property, offering more upfront tax savings.
4. 1031 Exchange: If you're considering selling any properties, a 1031 exchange allows you to defer capital gains taxes by reinvesting the proceeds into another rental property.
5. Energy-Efficient Improvements: Tax credits may be available for making energy-efficient improvements to your properties.

Rod

 will reach out!

 agree. I've set a clear line there. 40% ideal place to live 60% investment. So, investment wins. After a year I'll be moving out to the next project and keeping the cashflow

 right, my house has 5 rooms but I have kids/wife, so It's not an option to share the same living space with other people, we can be neighbors in the same dwelling though 

 Thank you Wale! 

Yeah, my idea is to keep exploring tax deeds but also house hack to help my cash flow. Also possible to sell the tax deeds props through owner finance and create cash flow as well, instead of giving out the deed, writing a Contract for Deed and generate monthly payments.

Anyway, back to the house hacking with a quad, can you refer somebody in the Orlando area?

I see you are from Texas. It's not out of the question for me to consider moving out of state in favor of cashflow. Possible because of remote work. What areas in Texas would you recommend?

 Thank you John! Yep, I'm aware about the Fannie Mae change last November! I'll reach out with some specific questions 

Hey guys! 

I started in Real Estate last year with Tax Deeds and flipped a couple parcels for profit, then as I researched more, found and fell in love with House Hacking, specifically with small multifamily, as a mean to create cashflow and eliminate my biggest monthly cost: my mortgage

I currently have a Single Family Home in Haines City, FL which has gain good equity and I can probably net around 70k by selling

My goal is to look for a Quadplex in Orlando FL or within 2h driving, just so I can drive and see the properties realistically. 

Any word of advice, experience or recommendations as I embark in this process? Point out good cities / neighborhoods in the area with good cash flow potential is appreciated. 

Also, if anybody reading, did this in the area, how was your experience, what would you say to a newbie like me?

Regards!

Yeah, let's see if they actually get rates under constant 7%+ for real