21 February 2018 | 2 replies
-- Of course I realize that we could make much, much more $ by keeping the propert(ies) and renting them out long term to tenants (and we have other properties that are, and will be rented out the traditional way), but we have a heart for entrepreneurs and RE investors and really want to help some young person be successful who otherwise might not have that opportunity.
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19 February 2018 | 0 replies
Property Location: Moss Point, MIssissippi32 unit complex4 buildings sits on 2 acres and all units are on the ground floorAll 1x1 units (Market Rent: $500/mo) 60% Occupied ( most occupants are long term social security recipients ) Per the seller (seller from out of state) all vacant units just need cosmetic rehab to be market readyPotential Gross monthly income: $16000 ( all units rented and are paying market rate) Current Total Gross Income: $7400 ( due to vacancy and residents paying BMR) Current Monthly Expenses: $1941Monthly Note Payment: $3419.43Asking Price: $660,000Seller Finance Term: - Seller wants to be cashed out for the amount left over of the loan balance ($295,000).
13 April 2018 | 10 replies
Make the connections I'm finding social media has quite a few real estate outlets to follow.
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1 March 2018 | 8 replies
I am young entrepreneur living in Philadelphia.
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20 February 2018 | 11 replies
@Michael Guzik Excellent point about social media.
20 February 2018 | 6 replies
Working for someone else and in the rat race...Growing up I’ve always wanted to be an entrepreneur and the more I’ve learned about real estate through books, classes, and podcast I think real estate is the is the direction I’d like to go with my entrepreneurial mind.
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22 February 2018 | 2 replies
Every successful business understands the importance of utilizing social media.
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21 March 2018 | 32 replies
Then I think I’m going to add one for bookkeeping/accounting and then one for website, SEO, social media.
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23 February 2018 | 23 replies
It got me thinking about all the folks that attend conferences, spend time on social media forums, read a ton of books, but sit idle when it comes to becoming an active note investor.
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28 February 2018 | 6 replies
Definitely consult with your CPA about this as you may have specific situations that didn't come up in your post.Generally, there is an advantage to running businesses like property management or wholesaling through an LLC taxed as an S-Corp, as it can save you social security taxes (your CPA can run the numbers for you along with a more comprehensive tax plan).However, it's usually a bad idea to hold rental property in an S-Corp, so you probably wouldn't want these two revenue streams (rental and wholesaling) running through the same entity.Let me know if you have any questions!