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17 January 2025 | 7 replies
A couple developers we work with skip LIHTC and the tax credits and go the route of impact funds to help alongside other debt and sometimes equity.
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21 January 2025 | 14 replies
I truly think I only need 4 more houses to hit my goal and then shift from buying to paying them off.I am not sure if I am thinking about this the right way and I am sure there are things I am not thinking about but below are my thoughts:Pros - I can purchase the houses I need to hit my goal faster - With getting homes fasters the depreciation, tax benefits, amortization, appreciation, rent increases all start sooner - Home prices on average should be lower now then if I buy in 4-5 years - I can take better advantage of leverageCons - I have more risk until I pay the properties off - Less upfront cashflow - Longer timeframe to acquire the properties to reach my goalIf anyone has any opinions or advice I'd love to hear it.
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16 January 2025 | 6 replies
One caution when using crypto to acquire property is being aware the tax ramifications are identical to if you converted to cash first.
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18 January 2025 | 8 replies
It is what is left after snow removal, cutting the grass, utilities, tenant issues, parking lot issues, property taxes, mortgage payment, etc. that make a difference.
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20 January 2025 | 3 replies
We did that for about 3 years until Jeff informed me he'd fallen behind on property taxes, and all of his lenders called the loans due.
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18 January 2025 | 16 replies
Use tax benefits like depreciation, repair deductions, and tax-free refinance proceeds to offset income, and consider an LLC for liability protection.
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2 January 2025 | 3 replies
You can always use a software like Turbo-Tax and follow the prompts.
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23 January 2025 | 6 replies
Some thoughts to consider:If you sell now, you are unlikely to pay capital gains taxes as your first 250k (500k if married and filling jointly) aren't reported.Doing your first rental remotely is undesirable without 1.)
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19 January 2025 | 10 replies
The property tax is higher than other markets, but generally, the numbers still work.
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21 January 2025 | 6 replies
If you can rent it for enough to cover the principal, interest, taxes and insurance and still put money in your pocket, plus cash flow on the property you're purchasing, that would be ideal.