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20 January 2025 | 3 replies
Instead of evicting them, i was thinking is there some way that I could rent it back to him for very cheap (mainly to cover just the taxes/ insurance) ie 2k a year rather than the going rate of 2k a month for similar properties.
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19 January 2025 | 7 replies
Tax and Legal ConsiderationsUnderstand the tax implications and legal responsibilities associated with rental income.
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25 January 2025 | 4 replies
There are auctions to sell cars, police auctions, tax impounded auctions, antique auctions, etc.
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24 January 2025 | 0 replies
A successful rental property should offer positive cash flow, meaning your rental income should exceed your monthly expenses (mortgage, taxes, insurance, maintenance, etc.).To find the right tenants, ensure the property is priced competitively within the local rental market.
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20 January 2025 | 4 replies
This is obviously much better than $1,400 per month.On top of that, you will now get 2x the depreciation write-off so your taxes should go down.On top of that, you will now get 2x the appreciation when real estate price go up.On top of that, your tenants are helping you pay down the loan, initially at about $100/mo for both properties, which gradually gets better and better.On top of that, you now have more units so if one or two goes vacant, you have more renters covering the losses of the vacant units.If you want to keep these properties, I would do a cash-out refi and go buy more rental real estate.
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31 January 2025 | 5 replies
If you need financial help, ask under the "Finance, Tax, and Legal" forum.
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21 January 2025 | 10 replies
If your not ready to spend money on a software you can use tax records.
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29 January 2025 | 68 replies
Is it fair that the county can raise property taxes due to a strong market?
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17 January 2025 | 2 replies
They are so tax beneficial!
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8 February 2025 | 2 replies
There's obviously quite a bit of diligence that comes after such as who the key principles are and their credentials/track record (both balance sheet and experience), the underlying real estate and thesis behind the investment & tax prep and audit procedures but as a general rule of thumb if the investor can't get past the first part which is understanding what they are investing in, passive investing is probably not for that individual.