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4 February 2025 | 24 replies
If that is a problem for you, you should just sell or self manage because you aren't going to find a similar level of service for a lower price.
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22 January 2025 | 14 replies
Have you considered moving those funds into a self-directed IRA (SDIRA)?
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3 January 2025 | 40 replies
That will be you one day.Your future self will thank you (in 10 years).
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8 January 2025 | 9 replies
Be mindful of short-term capital gains tax, as profits from flips held for less than a year are taxed as ordinary income, and frequent flipping may result in self-employment taxes.While profits from flips do not qualify for 1031 exchanges (since flips are considered inventory, not investment properties), you can minimize your tax burden by deducting allowable expenses like renovation costs, loan interest, and holding expenses.If you're considering diversifying into rentals, explore opportunities to benefit from long-term tax advantages such as depreciation and lower long-term capital gains rates.
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5 January 2025 | 24 replies
Absent them, risk is controllable over time.I self manage a SFH in the Bay Area in a very pro-tenant city (some cities are a little less pro-tenant than others).
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6 January 2025 | 6 replies
It's up to you how far to take this though.When we're faced with this, we try to hold the tenants accountable, by pushing hard to do self-showings.- Who better to show the house and speak positively about than a current tenant?
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2 January 2025 | 14 replies
Additionally, you may wish to speak with a CPA as to whether or not becoming an S Corp is the right decision – they can assist with reducing self-employment taxes.
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26 January 2025 | 30 replies
Did you self manage or use a Property Management Company?
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15 January 2025 | 14 replies
Class A properties can almost auto-run themselves, but Class C/D properties can take a LOT of time.At one point I was self-managing 25 Class A & B properties and could do it despite working 60 hours a week at my day job.