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5 July 2024 | 11 replies
I would first start looking at the various strategies for saving massively on tax, mainly the short term rental loophole and real estate professional status and then decide if these strategies align with your goals.
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4 July 2024 | 11 replies
While I no longer have health benefits or vacation time I still get to contribute to my 401K and receive my employer match on that.
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5 July 2024 | 19 replies
My mom keeps hers at 68 due to health reasons so I figured give people an extra degree.
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3 July 2024 | 6 replies
Hey Joey,Cost Segregation and REPS: Yes, you can perform a cost segregation study once your wife qualifies for Real Estate Professional Status (REPS) and use accelerated depreciation to offset your W2 income in subsequent years of renting the property.Purchasing Another Property: It can be beneficial to purchase another rental property within the first 5 years to continue maximizing depreciation deductions.
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6 July 2024 | 24 replies
When managing one of my mother’s properties, I went though sheer hell with one of her tenants to get her evicted for nonpayment of rent, while also dealing with my mom’s failing health with dementia.
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4 July 2024 | 11 replies
Do not pay down the mortgage if you're happy with the status-quo.
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1 July 2024 | 1 reply
Investment Info:
Other buy & hold investment.
Purchase price: $120,000
Cash invested: $60,000
417 old falls blvd is a multi use property having office/ warehouse spaces on 1st floor and a 3 bed 1...
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2 July 2024 | 5 replies
Here's a very small pros and cons list I've made for the area:Pros:Potential for Appreciation: Rapid growth and development can lead to property value increases.Stable Rental Demand: Proximity to Raleigh and economic opportunities ensure a steady stream of potential renters.Desirable Location: Good schools, amenities, and quality of life attract families and professionals.Cons:Market Competition: Increased demand can lead to higher property prices and competition among buyers.Out-of-State Management: Managing a property remotely can be challenging without a trustworthy local team.Economic Dependence: The area’s growth is closely tied to the economic health of Raleigh and the Research Triangle.
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1 July 2024 | 29 replies
Anyone ever consider advertising rental discounts to First Responders, health care workers and/teachers?
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1 July 2024 | 5 replies
Commingling of funds could have legal consequences for your entity's limited liability status.