All Forum Posts by: Vincent Meoli

I'd Find a Team Of Multifamily Apartment Operators (B/C Class Operators) That have a Proven Track Record, leverage their expertise, and build a substantial relationship with them.  Ask them to start presenting opportunities to you.

We have a huge demand for affordable housing in the US and it’s NOT going away!

There are numerous Unique Benefits Associated with Multifamily assets.

For example, they provide the opportunity to hire professionals that conduct cost segregation studies. 

This identifies, and reclassifies, the asset allowing us to compress the depreciation time for more favorable taxation purposes. Cost Segregation reduces income tax obligations with the primary goal being to identify all construction-related costs that can be depreciated over a shorter tax life. Typically you can shorten depreciation to 5, 7 &/or 15 years. This means you are, legally, allowed to keep more of your income.

I'd definitely consider becoming an Equity partner in a large Multifamily Community!

Unique Tax Advantages, Superior Performance, and Generational Wealth!

It's Passive Too!!!

They are essentially offering a turnkey model for the passive owner/investor. 

This model pays you quarterly and, when they refinance or sell the asset, it will pay you profits!

You are a passive Equity Partner which entitles you to unique tax benefits, cash flow, & profit (at sale or refinance) proportionate to your percentage of ownership.

Hope this helps-

To Your Wealth,

Dino

@Vincent Meoli Hey Vincent, what you are looking for is scale, right? So, have you thought of getting into Multifamily investments? Perhaps, sell the 2 rental for the 600k that are going for in Taxachusetts and buy multifamily out of state with the proceeds. 

Also, quitting your well over six-figure income at this point in the game may stifle your progress to completely replacing your income with REI income. Interestingly, there is a study that found that people who kept their job while pursuing their side hustle are 33% less likely to fail on that side hustle. 

So, as sexy as "quitting my 6-figure salary to pursue real estate" might sound, I think it's best to quit when you are clearly making a good chunk of monthly dependable income from REI activities before quitting. For the record, I'm for all quitting the rat race, but quitting the rat race and becoming an ant isn't the idea either 🐜 😃

Hope this helps. Goodluck. Thanks! - Ola 

Stop focusing on the little fish. With a high income you should focus on commercial deals (>4 units). This could be a portfolio or apartment building. I only focus on deals that cash flow >$1000 a month. (Might not be possible in Boston). This means I may only do a deal every 1-2 years. Like you, I don’t want to go through all the stress/process of a deal just to cash flow a few hundred. I’m in a similar high cost city, so I focus on out of state. The first out of state deal is going to be a pain, there are ways to limit it, but there are going to be hassles you can’t avoid.