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21 January 2025 | 31 replies
With enough knowledge you can make a educated decision on which approach you take.My experience:I personally don't sign up for any program who take you aside during events and try to sell packages that is just blatant sales strategy.Once you sign up there is every attempt to make you sign for their programs for bookkeeping, registered agent, LLC or corp setup fee which have ridiculous even with platinum membership.Basic standard structure they suggest to take advantage of multiple deductions can be easily achieved by proper education or work with a good firm like https://wcginc.com who is local to you.A umbrella C-crop to manage all other LLC properties and take advantage of many tax deductions that are not available with a llc, its also used to take losses up to 100K as startup expenses and dissolve the entity after few years.Few LLC entities for investing in Real Estate, etc preferably in Wyoming or Nevada ( you can find many companies online who can do this for $150 compared to anderson $1500-$3000) , they will claim they have a secret Operating agreement which is bogus.They certainly try to take advantage of tax loopholes and claim to be smart people, my view they are just taking advantage of numbers as per their own statements.
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23 January 2025 | 7 replies
Just know them going in so that you can properly budget.
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6 February 2025 | 12 replies
that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.
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6 February 2025 | 13 replies
And proper screening prevents those people from even renting your place.
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13 January 2025 | 3 replies
Seller financing is a good way to start if you are looking to sell to your current tenants, other than that, you will need to run into a proper plan why you will need that and how long will it take you?
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26 January 2025 | 5 replies
For the community development dept, you'll need proper plans (architect), site survey, permits, etc. when you're ready.
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14 January 2025 | 8 replies
The problem is, that's not proper accounting because a credit card is a liability, and doing this workaround will reduce your assets rather than increase your liabilities, which totally messes up your balance sheet and debt-to-income ratios.
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10 January 2025 | 8 replies
Buyers Want More Than a Pretty HouseSan Diego buyers are discerning, and they don’t just want a house that looks nice—they want one that functions well and reflects their lifestyle.
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7 January 2025 | 3 replies
Once you have a short list, get an account with each one and run them through the wringer to see how they function.
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9 January 2025 | 9 replies
You will need an attorney to properly structure the partnership and you will make sure you do it correctly.