All Forum Posts by: RICARDO RUIZ

I've been out of the circle for a couple days what is his policy ?

It does not look promising for us in California...Especially L.A County

sales tax 8.25 current sales tax (L.A)
0.50 measure R passed
1.25 Governer's
new proposed increase

So it looks like our sales tax will be at 10 percent as people are starting to lose their jobs and a bad business enviroment get even worse.

Why dont they just stop taxing everyone so much and then we can have a permanent stimulus package ...Maybe it will save all the expense of having to return people their money..

:clap:

Thank you :D I have multiple friends that are in REI and still no one has been able to properly explain many of the benefits of REI...So here are some the benefits ...

1)building net worth (if bought at a good price)

2)tax incentives (multiple deductions, passive earned $ taxed at lower percentage)

3)cash flow (significant cash flow in long term)

4)proven appreciation (keeps up with inflation with possible large appreciation)

5)investing using O.P.M w/ leverage possibilities

someone tell me if I've kept up ....or if I missed any

1) Can you explain this a little more ? "In another nice little perk, the government allows me to depreciate that property over 27 1/2 years" Is this because home values are dropping? Or is this expenses ? What if values appreciate like in some parts of the county?

2)Is that common for you to pay yourself 100 dollars per month as a property managment fee ?

I've been looking around for some time now and I keep reading about cash flow of 100 dollars or less per unit per month. Is it worth the effort ? Here is my situation see what you think..I am looking at REI for maybe some steady income in retirement which is from 15 to 20 years away..I earn approx 40 dollars per hour and O.T appears plentyful for many years to come. Its odd because the worse the economy gets the more work we seem to have..If I am looking at about 100 dollars per month isnt it just easier to work 2 hours of over time per month netting me about 100 dollars per month ? So that's 100 dollars per month with no worries about bad tenants, property damages, banks, etc.....What do you guys think ?

Sort of. The renter will pay the rent which will be used to pay the mortgage payment & interest but the landlord will get the mortgage interest tax deduction. Make sense ?

I was told that I can make up for negative cash flow with the larger tax return that I would be getting back at the end of the year. For example, a property is bought using a tax deductable loan that will be paid by the renter but the tax deduction will go to me since I am the owner of the property and responsible for the loan. Is there anything wrong with this logic ? Am I missing something ?

Rick