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7 February 2025 | 13 replies
In 2021, my company earned just under $1,000,000 in net revenue and I personally pocketed about $325,000.
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21 January 2025 | 10 replies
The first is that there's no consensus between tax professionals, and the second is that you will not like my personal interpretation.My interpretation is:Until the property is "placed in service" - everything goes into basis.Illustration.You buy a property July 1st.You finish rehab November 1st and put the property on the market.Your tenant moves in January 15th.The property was placed in service November 1st, and it does not matter that the tenant did not move in until the next year.Everything paid between July 1st and November 1st, including interest and utilities, goes into basis.
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29 January 2025 | 5 replies
Wholesaling around a 9-5 can take a lot of time if you are handling the lead gen and deals.
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5 February 2025 | 21 replies
The tenant has two types of coverage: liability and personal property.
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19 January 2025 | 6 replies
@Hedman Maximus too many investors worry about DIY pennies, while losing dollars - which it seems you may be doing.Why can't you hire a PMC to handle the properties for you?
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8 February 2025 | 1 reply
I started before tax season and I have been unable to connect with one as each say they don't have time or have more than they can handle.
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1 February 2025 | 23 replies
to see if you like it and can learn/handle the require underwriting. - contact @Jay Hinrichs about this, pay him if necessary, as he's been doing for 25+ years.Good luck!
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31 January 2025 | 2 replies
That was an excellent non-answer to my question, Skyler. hihi :)No they are not all the same. some are only interested in dealing with conventional purchases other are as you say better at handling assignments or double closes, some are commercial specialty, etc....A investor friendly one would be, at least from my point of view, one that understands there may need to be some last minute wheeling, dealing, and adjustment made to close a deal, understand what needs to be done and do not freak out about creative deals.Maybe my understanding or thoughts are wrong but that's what I meant by investor friendlyregards :)
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3 February 2025 | 3 replies
You’ll need to treat it like a business—handling tenant management, accounting, legal compliance, property maintenance, and more.That said, when done correctly, it’s a powerful tool for building wealth!
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7 February 2025 | 11 replies
PM me and I can send you my template for this.Before I started handling these myself, I used: George Gibbs who's based in Charlotte but works state wide from what I understand.