Hello,I am in Seattle area and I have a student applicant who is using a his mom as a co-signer.

In my case, I have residential rentals in one LLC, commercial properties in another, self storage in a third, and my real estate company operates in a fourth.

Do you plan on self-managing your properties?

A 1031 exchange doesn’t apply, but funding through a self-directed IRA can defer taxes, though profits from debt financing may trigger UBIT.To reduce taxes, consider forming an LLC for better expense deductions, offsetting gains with investment losses, or holding the property for 12+ months to qualify for lower long-term capital gains rates.This post does not create a CPA-Client relationship.

The information contained in this post is not to be relied upon.

Short sale/Loss Mitigation applications with your agent can avoid foreclosure. 

Hey GaryI manage about 65 units in FL and I broker for STR buyers in this market, and some do self manage.Obviously the ones who choose us for management, we can assist with all of those items, but the ones who self manage do so by building a team. 

It’s a full time job (literally it’s my job) and we will self manage and probably be at 35% expenses (which is a little lower than normal as we already took care of all the capex for 5-10 years)To buy this building turnkey would be at least 2.5MM if not more.

If yes, LS is an easier market to manage and no restrictions with placing tenants...ever considered self mgmt?

Ofcourse my mistakes would cost me if done all my self as well.So i am thinking that by going through paid consulting, it saves me from mistakes and time.