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28 January 2025 | 15 replies
It's good the tenant is talking to you, but I suspect she's just filling you full of excuses and you're lapping them up.Cash for keys is what amateurs do when they don't know how to handle non-paying tenants.
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23 February 2025 | 3 replies
In the next 5-10 years, I plan to leave my current industry and transition to real estate full-time, so I’m especially interested in how this could impact that goal.Current FinancialsRoth 401(k) Balance: $105KContributions: $79KEarnings: $23.5KSalary: $109KContributing 6% annually ($545/month), with a 100% match for the first 3%Investment Growth Assumption: 8% per yearCurrent Rental Cash Flow (Pure Profit After All Expenses): $7,500/month (9 units)Potential New Property Cash Flow (Pure Profit After All Expenses): $1,300/monthCurrent Real Estate Portfolio Value: $1.4MAfter New Property: $1.7MWithdrawal Breakdown ($60K)Tax-Free Contributions: $45KTaxed Earnings: $13.4KWhy Only $13.4K Is Taxed and PenalizedMy Roth 401(k) balance is made up of:Total Balance: $105KContributions: $79K (75.24% of total)Earnings: $23.5K (22.38% of total)When withdrawing, the money comes out proportionally from contributions and earnings.
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3 February 2025 | 5 replies
It is very easy to save money working in public accounting.I forgot what my dinner allowance was working at the big four 5 years ago in a major city(I think it was like $20?)
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21 February 2025 | 9 replies
When donated to a qualifying charity, you generally can deduct the full fair market value without having to pay capital gains taxes, which is a big benefit compared to selling it.Itemized Deductions: To claim the deduction, you must itemize your deductions on your tax return (rather than taking the standard deduction).
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20 January 2025 | 8 replies
There is a lot of public info out there on their funds and how they are (not) performing.
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13 February 2025 | 3 replies
We pay 1.75 months of rent per new customer.Total $34,000 $53,000Once your location gets close to full occupancy for 2 or 3 years.
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18 February 2025 | 4 replies
Quote from @Abel Curiel: Quote from @Mike Schorah: With a full time job where you don’t get home until 6pm.
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12 February 2025 | 5 replies
This will give you a baseline, I.e. own the Main St project same thing as this one, and it cost me all in $125,500 to do the full rehab.
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19 February 2025 | 10 replies
I have a client who wants to rent his home for 30 days or more, but not full year leases, just a few months at a time.
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11 February 2025 | 6 replies
I'm always a bit suspect of full-time paid mentors and people pushing courses.