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27 November 2024 | 16 replies
In today's world you need to be about 28-35% down on properties to be gross cash flow positive, closer to 40-42% to be truly net cash flow positive(i.e 50% of your income goes to maintaining the property, other 50% is actually profit).My recommendation is to buy ideally a 4/3 SFR that's a starter-friendly one in a good area, and rent it out by the room.
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26 November 2024 | 35 replies
If they say put up higher railings, additional smoke detectors, etc, complete it promptly and document it.I've been in the landlord business for 20 years, and I've always kept my properties to code and well maintained.
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26 November 2024 | 17 replies
Our goal is to purchase two multifamily properties per year, and we want to ensure that we establish the most effective structure for asset protection from the outset.We’re exploring options such as Subsidiary LLCs, Parent LLCs, and Irrevocable Trusts to maintain both asset protection and anonymity.
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27 November 2024 | 13 replies
Also Since you plan to live there for 3-5 years, it’s easier to manage and maintain, giving you time to learn the ropes of real estate.That said, be mindful of high HOA fees, as they can eat into your margins and affect future cash flow.
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22 November 2024 | 1 reply
Utlimate goal is to maintain a healthy leverage on the rental property.
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22 November 2024 | 2 replies
Any way to delay the official sale to keep taxes low while still maintaining a contract to buy?
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22 November 2024 | 5 replies
Keeping your listing updated, maintaining clear and friendly communication, valuing feedback, and adding thoughtful touches can significantly enhance their experience.
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22 November 2024 | 12 replies
Maintain detailed records of all renovation expenses to substantiate deductions and ensure compliance.This post does not create a CPA-Client relationship.
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21 November 2024 | 1 reply
This was perfect to save a lot of money while maintaining a high standard of living.
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21 November 2024 | 6 replies
Tools like Baselane simplifies bookkeeping and tax preparation by categorizing transactions and storing records.Keep personal and business accounts separate to maintain LLC liability protection.Please don't use the same LLC for flips and rentals.