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29 September 2024 | 12 replies
You could pull out cash tax-free and still benefit from depreciation and other deductions on the rental side, which could reduce your tax liability.Quick Tax Comparison:Selling:Capital Gain: $160,000Tax Due: ~$32,000 (at 20%)Net After Tax: ~$128,000Refinancing:Loan Amount: ~$263,500 (at 62% LTV)Tax Impact: None on the cash-outRental Deductions: Continue benefiting from depreciation and mortgage interest deductions.Refinancing offers liquidity without the immediate tax hit and lets you maintain rental income, making it potentially more advantageous.All of these are rough numbers of course, but just some different ways to think about it!
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25 September 2024 | 5 replies
If it is some kind of big deal like it is an old metal barn eyesore on a downtown city block undergoing revitalization and you're going to build a $10mil apartment building on it, if you can get the land...hey hey maybe the powers that be might negotiate something with you, with perhaps a promise you won't fight value for 10 years or something like that.
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29 September 2024 | 8 replies
Not getting at least a title search is off the wall crazy.Land contracts/trusts will work but they are passive trusts and individual liability will continue.
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26 September 2024 | 5 replies
Right now, I’m living rent-free with family, and I could continue to do so for the next two years before moving.Here’s my dilemma: would it make more sense for me to continue to save money and start my real estate investing journey in my new state?
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27 September 2024 | 7 replies
Plus, with Texas continuing to grow, Odessa could see gradual appreciation over time.P.S.
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26 September 2024 | 1 reply
I’m passionate about continuously learning and growing in every field I’m involved in.On a personal note, I’m deeply grateful to God, as His grace has carried me through many challenges, and everything I have today is thanks to Him.
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27 September 2024 | 3 replies
Continue educating yourself through books and online courses tailored to real estate and market analysis.
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27 September 2024 | 16 replies
I'm not sure if these high tech salaries will continue, some of them get compensated via RSU (Restricted Stock Units) My suggestions were to house hack (if they're still renting) or within a 2 to 3 hour drive.
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26 September 2024 | 8 replies
My recommendation would be to continue to use Excel, a note taking app, and a reminder app.
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28 September 2024 | 12 replies
I’ll steer clear of them and continue to look for multi family properties and be patient enough to buy when the time is right.