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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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15 January 2025 | 11 replies
You can use it as a downpayment on a property over $450k and use leverage tax free.
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20 January 2025 | 37 replies
If not, what are property tax sales?
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14 January 2025 | 3 replies
I like the idea of getting a great deal, so should I take a pay cut, invest in getting my real estate's license, go the CCIM route, and find a broker to sponsor me until I'm a CRE broker and earn of the commission and get into bigger deals as a GP?
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19 January 2025 | 6 replies
@Chris Seveney The types of leads I'm targeting are absentee owners, vacant properties, pre-foreclosures, tax delinquencies, and probates.
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14 January 2025 | 5 replies
Hi Kin,Transferring your share of the property to your brother may have tax implications, including gift tax if the transfer is considered a gift.
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10 February 2025 | 47 replies
Some counties have API as that allow you to access their tax records.
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3 January 2025 | 4 replies
@Nicole GrazianoI recommend that you have a consultation with a real estate tax accountant regarding your taxes.Bigger Pockets is a great place to find a real estate tax accountant.
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17 January 2025 | 6 replies
The 1031 exchange rule to defer your tax is two part 1) reinvest all your proceeds and 2) purchase a property (or properties / DSTs/TICs) with an equal or greater market value.
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23 January 2025 | 7 replies
You mentioned gross rents of $3400 per month and Principle/Interest/Tax/Insurance of $2500 per month.