Rentals generate passive income, so an S-Corp offers no added tax benefit.

Quote from @Zara Massoud: Your new PM is correct and the old ones were wrong.The property manager must have your social security or tax ID number on file.

Quote from @Terrence Adams: Hi everyone, I’m Terrence, new to rental property investing and excited to learn from this group.

I used to live in the city and the taxes and water bills are nightmares.

Use umbrella insurance as an additional safeguard, especially if you opt not to form an LLC.Avoid S-Corp taxation for rentals, as rental income is passive and not subject to self-employment tax. S

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

.- Property Transfer Tax (Grunderwerbsteuer): 3.5-6.5%, depending on the region- Land Registration Fees: Approximately 0.5-1.5%.- Realtor Fees: As mentioned, these range from 3-7% of the purchase price, plus VAT.Benefits for Service Members- Equity Building: Owning property builds equity over time, providing long-term financial security.- Strong Rental Potential: If reassigned, you can rent the property out in Germany high-demand rental market.- Tax Advantages: Germany offers tax deductions for property owners, which can help offset some costs.Key TakeawaysService members have a unique opportunity to buy property in Germany with minimal upfront costs.

@Cory Prior I would say it depends on what you want to learn.

Real estate is definitely a constant learning experience, and adaptability is key.Building connections with buyers in a new market can be a real challenge, especially when trying to understand their specific needs and earning their trust.

Doctors who deliver babies learn how in their OBGYN rotation and midwives counseling pregnant women are mostly mothers themselves.