
21 May 2024 | 138 replies
Because the 401(k) is an employer plan instead of an Individual Retirement Arrangement, many of the plan-side features are more powerful, such as higher contribution limits, the availability of participant loans, etc.Structurally, you can achieve full checkbook control over either an IRA or a Solo 401(k).

21 May 2024 | 25 replies
If the house is located in prime area, perhaps STR would makes sense with some tax loopholes that you can achieve and save.

19 May 2024 | 20 replies
Nobody tells you how to achieve the second phase of the project, the sale of the property—which is the whole point of the exercise.

18 May 2024 | 1 reply
In other words, even with a better rate of return, starting later can influence when you achieve the same end result.

18 May 2024 | 4 replies
Multi-family can work out but if you're marketing to travel medical professionals, many of whom work nights and sleep days, you'd need to be able to provide a relatively quiet space and that can be hard to achieve in multi-family properties.

18 May 2024 | 9 replies
“Alone we can only accomplish so much, but together we can achieve anything.”

17 May 2024 | 7 replies
Therefore, if your rental income doesn't keep up with inflation, you must consistently reduce your monthly expenses or return to work to compensate for decreased purchasing power to maintain your living standard.No matter how many properties you eventually own, unless rents outpace inflation, you can not achieve true financial freedom.Back to Your SituationYou stated, “I don't believe that the property will continue to appreciate or see the rent growth it has seen over the past few years.”

16 May 2024 | 6 replies
STR Achievement Unlocked: I have a business partner who has an AI bot filling last minute vacancies on FB and, because sometimes it was too late for the canceling guest to get a refund, he sometimes runs occupancy above 100%.

20 May 2024 | 28 replies
Make sure you leave that new LLC as a disregarded entity, or if you bring investors on with you, make sure it’s taxed as a partnership (subject to Subchapter K).The only way to mitigate cap gains would be if the property appraised very close to its net tax basis.The other strategy at your disposal is to dissolve the S-Corp in the same year (though you really need to be in-line with your CPA on this one)… you should have more tax basis post- deemed sale, and that basis would help you achieve a capital loss on dissolution of your corporation.Talk to your CPA my friend!!

16 May 2024 | 8 replies
The average person can totally achieve financial independence easily with education, self-discipline, and consistency.