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19 January 2025 | 41 replies
I have had several cases where I finally got cops or government officials to only do their job after being very loud to the newspapers, but it does work.
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27 January 2025 | 10 replies
In California there is $800 franchise tax per LLC per year, which discourages a lot of RE investors from getting an LLC.
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29 January 2025 | 23 replies
Another downside is you loose on the advantages, of the Federal Tax Code, by not closing in the name of a LLC (you can elect to have a LLC taxed, as a S Corporation which is a whole other conversation).If you want to close in the name of a LLC, Mortgage Lenders will offer you Commercial Loan Terms (25-30% down, a 15-25 year amortization, and a ballon due in 5-7 years).
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21 January 2025 | 4 replies
If the permanent financing will allow you to recover most of your initial investment and the fair market rent covers the principal, interest taxes, and insurance with cash left over, you have a BRRRR.
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23 January 2025 | 1 reply
On property number one, I would cash flow $750 a month after mortgage, taxes, and insurance if I also rent out the unit I live in.
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20 January 2025 | 7 replies
If you can rent it for $2,000/month, after fees, taxes, and potential maintenance costs, you’d still make a decent passive income.
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22 January 2025 | 4 replies
If you’re interested in investing in real estate, you can consider doing so with a Self-Directed IRA to defer taxes on capital gains until you actually withdraw the funds from your IRA.
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18 January 2025 | 17 replies
We were initially looking out of state for a potential move and or investment property just because the property taxes without being able to homestead, plus high cost of insurance, and harsh weather on homes made me feel like it might not be worth it.
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21 January 2025 | 8 replies
You also don't have to pay state tax on income.
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23 January 2025 | 10 replies
This allows us to close extremely quickly, which is an important competitive advantage.I don’t know how to read our own tax returns, and I’m certainly not going to read yours.