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27 January 2025 | 2 replies
Quote from @Paul Whitehurst: Many will tell you to borrow money from Property A to purchase Property B, but that's known as over-leveraging and not recommended for a newer investor.
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16 January 2025 | 4 replies
If you are going to sell then you must understand the tax implications.
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29 January 2025 | 5 replies
I know it is expected that you will need to spend some money after someone moves out but I just didn't expect I was going to need to spend appx. $10k to get it rental-ready.
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25 January 2025 | 24 replies
BUT...if you're American and can still get loans in the US (the silver lining of having to still file US income taxes while living abroad), then why not use leverage?
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17 January 2025 | 24 replies
IRS 590 also explains this.5) When you receive a distribution or otherwise get paid back, never take personal control of the money.
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22 January 2025 | 9 replies
To succeed, focus on properties in high-demand neighborhoods like Pecan Grove or Aliana, and ensure your cash flow analysis accounts for high property taxes, potential HOA restrictions, and flood insurance costs.
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26 January 2025 | 9 replies
If you need financial help, ask under the "Finance, Tax, and Legal" forum.
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10 February 2025 | 10 replies
Yes you will save some money by self managing but more important you will learn what it takes to manage a property.
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1 February 2025 | 3 replies
Covering the mortgage isn’t an issue, but I’m considering factors like: Multi-Family: House hacking would help offset costs right away, but I’d likely need to put money into renovations upfront.Single-Family: Easier move-in with no immediate renovations needed, plus potentially lower tenant turnover once I rent it out For those who have been in a similar situation, what did you choose and why?
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20 January 2025 | 4 replies
This is obviously much better than $1,400 per month.On top of that, you will now get 2x the depreciation write-off so your taxes should go down.On top of that, you will now get 2x the appreciation when real estate price go up.On top of that, your tenants are helping you pay down the loan, initially at about $100/mo for both properties, which gradually gets better and better.On top of that, you now have more units so if one or two goes vacant, you have more renters covering the losses of the vacant units.If you want to keep these properties, I would do a cash-out refi and go buy more rental real estate.