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8 December 2024 | 26 replies
A 1031 exchange is NOT available for owner occupied property so that’s the bad news.The good news is for owner occupied primary residences, for married couples, the first $500,000 of pain is tax free.No need to worry about a 1031, live in the house, sell it, use the $500,000 exclusion and you pay KP tax on whatever profit may exist,2.
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2 December 2024 | 4 replies
Just depends on your risk tolerance with the fixed or variable rate preference and which makes more sense for cash flow.
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6 December 2024 | 34 replies
I prefer driving for dollars and use my mailers from a 3rd party company after building my list.
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11 December 2024 | 25 replies
I was for a couple years.
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5 December 2024 | 6 replies
My preference is Single Family, although I currently own some mobile homes, some parks, and some small multi-family as well as notes on land and houses.
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6 December 2024 | 9 replies
Digitize physical receipts for easy storage and use a consistent naming convention for easy sorting - 2024.03.25 Home Depot.Maintain proper records, such as contracts, settlement statements, and promissory notes.Additionally, you can track income and expenses consistently using software or spreadsheets.As you scale, if bookkeeping isn't fun, consider hiring a bookkeeper for a couple hundred bucks per month.
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6 December 2024 | 0 replies
I have joined a couple of groups on FB, and connected with some other people here.
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7 December 2024 | 8 replies
Investors typically won't care that you're representing the seller and others will prefer that you're direct to seller.Listing it on the MLS will get the most inquiries for the property.
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9 December 2024 | 9 replies
At time of purchase I had a couple of engineers over to look at a couple of things.
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5 December 2024 | 37 replies
I am planning to build a business to replace my income in couple of years so as to have monthly cash flow equal to my W2 income.