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All Forum Posts by: Trish Wilson

Trish Wilson has started 5 posts and replied 17 times.

Post: Anyone tried HappyInvestor.com?

Trish WilsonPosted
  • Realtor
  • Posts 17
  • Votes 7

Thank you for sharing all of your experiences here. It seems like this has been a common question for the last couple of years. I was looking at it today and had to check the reviews. I am so glad that members of Bigger Pockets are openly sharing their experiences. There was another company from connected investors which was charging $1497, then $99/month. I am hoping that one company will be trustworthy enough to provide us with more accurate information to help us find really great deals. I am a Realtor here in Idaho and I have to go through IMLS to find all the multi-unit investments. But, it takes a while to find the perfect ones for my investors. One important key element though that might help others like me in other areas is to connect with Property Management owners and other key players in the real estate industry because they have expanded access to the owners of properties, and have advanced knowledge of some properties that are about to be listed in the market to name a few. Happy investing!

I hope the owner, I believe, Trent Smith, owner of happyinvestor.com will keep us updated. We would like to know if you have kept your website updated after all the feedback that you were getting from different places.





Trent Smith, owner of HappyInvestor.com

NOTE; if anyone here is from Idaho and knows of a house that can be flipped easily, please send me a PM. 

Quote from @Maegan Erb:

Hi Trish, thanks for the suggestions and question about the interest rate.  We put 20% down and have 6% interest.  I was thinking this morning that I might be able to find a few possible grants for them to apply for.  So that would be in line with one of your suggestions.  


 That is actually a great idea Maegan. Let me know if you are able to do that. I am pretty sure that there are other organizations who are willing to help out. I admire you for what you are doing for these women. Not very many have that kind of passion to help them. I remember that when we had a house for rent way back then in Nevada, we would hire someone who lives in that kind of housing situation and provide them an opportunity to start their life with the jobs available to them. I pray that you will find the perfect match to do what you are called to do.

Thank you, Scott. What if the investor is from another country? Am I correct to presume that the funds will simply be wire transferred? How do we go about going through AMLA? How can we be sure that the money being used is not from money laundering? 

Is there anyone who has done real estate investing using cryptocurrencies? Please share here if there is anyone here in Idaho who has done that or even if you are from another State. Thank you!

TW

Hi Maegan,

As Entrepreneurs, we aim for profit. But, we are wired to give and share what we have to be a blessing to many. But again, $1,000 below the market rate is quite high, the $644 negative cash flow is a big number to eat up too. I see that you have the heart to help others, perhaps you can explain to them how your numbers work so they can have a better understanding. Asking also some avenues for the non-profit to raise more funds for them might help not only them but also you so they will be able to pay more than what they think they can afford. That will be a win-win situation. 

Perhaps a question to you: How much interest rate are you paying on your mortgage? Is there any way you can lower your monthly overhead?

I hope that helps.

Trish W

If you were an investor, will you be willing to buy real estate for cash and turn it around to a buyer who is willing and able to pay you, let's say 5% interest for 15 years? Will a guaranteed 5% be enough to beat inflation and rising market prices?

Do you have an alternative suggestion on how to help buyers who are not able to purchase now due to the rising mortgage rates?

TW

Thanks for sharing this. Making it clear which business you are in helps determine which expenses are tax deductible.

Quote from @Ashish Acharya:

1) having LLC does make the trip deductible.

2) traveling to look for property is not deductible. This also depends on other business activities you have. 

If you travel, but you have not identified the property that you actually want to buy yet and the cost is considered investigating cost. These costs for most individuals are considered personal in nature (unless you have an RE portfolio that is run like a business- see below). If you had identified the property, the cost, and the travel cost would be added to the basis of the property and depreciated.

These initial investigatory costs are treated differently for flipping and rentals

1) Flipping: the travel cost to investigate will be treated as a business cost and deducted as an ordinary travel cost. This is a schedule C activity if you don't have an entity. Flipping is more than likely will be considered trade or business.

2) Rentals: For this purpose, rentals are not considered trade or business, so initial inventory costs cannot be deducted as travel expenses. This travel expense is not a business expense related to the property you already own until you have identified the next property you want to buy ( once Identified costs are added to the basis as mentioned above). The reason you can't deduct travel expenses before identifying property is you report every rental activity that you already own on schedule E. The travel expense to investigate another property is not related to the activity that you already own. And you don't have schedule C to deduct the business expense.

This might have changed if your RE portfolio was run like a business, and/or you have a partnership, the partnership would then deduct the travel expense ordinary business expense.

As I said, it gets complicated really quickly. Please talk to your CPA.