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12 November 2024 | 11 replies
BiggerPockets groups —lots of solid resources and a supportive community here or at local REI meetups; you'll find folks willing to share tips (and maybe even some potential partners).Here are some other strategies that could also help you scale faster:Partnerships/Joint Ventures: Teaming up with others, especially experienced investors or people with capital but limited time.
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11 November 2024 | 16 replies
This approach requires more messaging though—and the impact of this at a larger scale could be a lot of extra work—but in our view, it was absolutely worth it.
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10 November 2024 | 12 replies
I have done it twice.I tell folks just go for a walk on the road or bike trail along the lake and don't toss the butts.
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11 November 2024 | 8 replies
While passive rental income is possible, managing it across borders can be tricky and may incur extra costs like foreigner withholding taxes and specialized tax filing.Financial Accounts (Roth IRA and HYSA): From what I understand, if you were to leave the U.S. without citizenship or a green card, your ability to contribute to a Roth IRA would be affected as you would likely no longer have U.S.
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13 November 2024 | 18 replies
The goal here is to reduce liability.Consult an Attorney for Liability Options: An attorney could advise on setting up an umbrella insurance policy to add an extra layer of liability protection.
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8 November 2024 | 9 replies
Usually the increased buying power and shared expenses can help make the numbers tie out, especially when you consider getting creative with occupancy (maybe yall split time at the house and spend time elsewhere through out the year).Im seeing more and more interest from folks who are looking to do this sort of thing in tandem.
8 November 2024 | 17 replies
Never limit yourself as to how you're gonna get paid.99.99% of the time, I've come out ahead because I've taken the extra step to accommodate my customer.Here's one for you all...."
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8 November 2024 | 38 replies
MTR is treated like an LTR from what I understand and I already own a couple LTR's so would rather do more of those than an MTR and avoid the extra hassle of furnishing, etc.
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8 November 2024 | 7 replies
In my experience, they have the fastest turnaround time vs folks out of driving distance from the property.
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17 November 2024 | 30 replies
There are some exceptions to this but this is the general rule.The $150,000 hurdle shrinks to $75,000 if you are married but filing a separate return.Creating an LLC does not suddenly bypass this.In actuality, you created another filing requirement which your CPA will charge you an extra cost for.