All Forum Posts by: William Joel Idleman

I'm currently looking for seller financing too. I have a friend who writes private loans but the interest rate in about 1% higher usually and they generally want 90/10 LTV. I would ask your broker why he didn't like the idea. My dad hates rental property. He had one bad deal. He complained about it all the time. Maybe the broker is the same way? I know seller financing is a huge benefit to my friends who are further along in the game than I am. If it makes sense to you go for it.

I know it's July but the end of the year will be upon us before we know it.  You may find yourself struggling to spend some profits to lower your tax liability.  There are a few tax advantaged investment vehicles you can use listed below.  Now is the time to start tax planning if you haven't already begun.  If you need help or more explanation of anything send me a message!

Traditional IRA ($6,000 or $7,000 if age 50 or older)
Solo 401k ($57,000 or $63,500 if age 50 or older)  Please note you CAN borrow money from this tax advantaged vehicle
SEP (25% of your net earnings from self employment up to $61,000)
SIMPLE IRA ($14,000 or $17,000 if age 50 or older)
401k (20,500 or $27,000 if age 50 or older)  Please note you CAN borrow money from this tax advantaged vehicle

We all know that the best tax advantaged vehicle is real estate by far.  Keep these options in your back pocket should you find yourself in a pinch come December 1st.

Accredited investors get to play by different rules.  People are considered accredited investors if they meet one of the following requirements;

1.)  Net worth over $1,000,000
2.)  Income over $200,000 if single, or $300,000 if married in each of the two prior years with a reasonable expectation to earn the same for the current year

There are two tax saving vehicles I'm fond of for end of year (I have to spend this or pay too much in taxes) moments.

1.)  Real Estate Syndication (advertised on BP quite often)
2.)  Oil and gas partnerships - a little diversification into commodities can offer up to a 92% deduction


I'm new into real estate investing.  I'm one of those guys that read the books for 10 years and never pulled the trigger.  I know many of you are probably anti stock market and that's okay.  I definitely understand why you might feel that way.  I don't care to try and change your mind.  If what you're doing is working then keep working it!  I personally choose to be real estate heavy while taking every tax advantage I can get.  If you find yourself wanting to diversify out, or needing some tax shelter, don't hesitate to reach out!  

If I've missed something or messed something up, please let me know!  We all want to make sure we are getting the most accurate information possible.

Investment Info:

Single-family residence buy & hold investment in San Antonio.

Purchase price: $145,000
Cash invested: $3,000

I received $5,000 off when everyone else seemed to be paying above asking price. This was my first investment property. I used a low down payment loan. My wealth grows by about $400/month (tax free) between the amortization of the loan and the cash flow. I help people with tax and financial planning! Send me a message before my book is full.

What made you interested in investing in this type of deal?

Appreciation, depreciation, and amortization. A triple threat with exponential benefits when stacked together.

How did you find this deal and how did you negotiate it?

I worked with a real estate agent. It was hard to find any property that was cash flowing. I had him send me all of the properties that were for sale with tenants already under contract. This property cash flowed. Asking price was 150k. I offered 125k. They countered at 145k.

How did you finance this deal?

Gov backed loan.

How did you add value to the deal?

No value added. I'm collecting this one like 10 year old me collected baseball cards.

What was the outcome?

Still holding. Great tenant.

Lessons learned? Challenges?

I recognize emotion and fear when I'm in the process. I talk through both emotion and fear by running down the numbers and reminding myself of my long term goals.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Manny Gonzalez out of SATX was great to work with. If you want his contact info, send me a message.