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5 February 2025 | 15 replies
Secure income from a thriving business as well.
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31 January 2025 | 7 replies
@Marc Zak Using an LLC for each property provides strong liability protection by isolating risks to individual assets, with income and expenses flowing through to your personal taxes on Schedule E.
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2 February 2025 | 10 replies
In Texas, there’s no state income tax on rental income, but LLCs have formation and annual fees.This post does not create a CPA-Client relationship.
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5 February 2025 | 2 replies
It’s been bumpy with positive income. lots of expenses, 220 w batteryinstalled, utilities , gardener, Water heater etc and cohost is eating up positive.
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28 January 2025 | 4 replies
Financial freedom isn't simply about replacing your current income, because inflation continuously drives up prices, making a fixed income insufficient to maintain your standard of living.
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5 February 2025 | 15 replies
You are not going to be able to generate significant income on vanilla, long-term rentals without a significant amount of capital invested.
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4 February 2025 | 13 replies
Would that lower our tax liability from other income we receive or no because this is purely RE and not an operating business?
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31 January 2025 | 1 reply
My thinking immediately turned to researching local rental costs per square foot to determine income potential with triple the current square footage.
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1 February 2025 | 2 replies
Hopefully, you find it helpful and qualifies us to assist you with your goals:)---------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?
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5 February 2025 | 2 replies
For reasons I don't yet understand, if the property is sold I cannot take advantage of a 1031 Exchange and my gains will be taxed as income, which will be 35% federal and 11.3% CA income tax.