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10 December 2024 | 17 replies
Like Kevin stated, they don't care about your business even though Im sure you are not only generating income for the area the cabin is in (generating local sales tax) but presumably you are paying taxes not only on your property but on the income you make from STR biz.
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12 December 2024 | 12 replies
Income generated from within CA has to be reported in CA.
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7 December 2024 | 7 replies
@Alecia Loveless Only thought I have on how to generate real income is if you could do weddings.
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4 December 2024 | 30 replies
Can you generate any of these reports as well as the P&L for each property?
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5 December 2024 | 3 replies
Off-Market with agent: 0-7% CocWholesale: 7-10% CocInvestor-Generated off market: 10%+The more return you want the harder you have to look for it, and the more creative you need to get to solve someones problems.
10 December 2024 | 13 replies
But its definitely one of the three issues. 500k houses should generate at least 10% of revenue all day long or you should sell the property there and buy somewhere else that gets that.I would actually guess if you're open to all areas, you can find something that hits the 12 to 14% revenue.
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4 December 2024 | 6 replies
@Thomas Sheehanonly you can decide what makes sense for you financially, but I would not put $200-250K into a property to generate minimal cash flow. i look to minimize my outlays when I purchase.
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9 December 2024 | 9 replies
Flipping is probably a little more intense, but can still be done with a day job, but again, my average flip versus my average rental: flip has made much better returns.And as for generational wealth and handing down something to your kids... well, I guess I view it as: if I can hand my kids a $10mm trust fund held in public securities, or $10mm real estate portfolio, they are going to be pretty set either way, but a real estate portfolio will continually have costs and work, a brokerage account is a bit more set and forget, with some periodic rebalancing.
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4 December 2024 | 9 replies
Along those same lines, I recommend shifting your mindset from generating additional income to investment diversification.
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9 December 2024 | 16 replies
Consider a bigger cabin if you want to try to grab a huge equity capture over the next 2 or 3 three years. 2,000 sq ft cabins that were generating 120k a year gross and selling for 850k to 875k are now hitting 85k to 100k and going for 675k to 725k.