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31 January 2025 | 0 replies
Imagine making millions of dollars over the course of your career and then having to pay 30-50% every year to uncle sam instead of compounding that cash over time.This is exactly what real estate professionals have learned to mitigate.To reduce their taxable income, they just buy a building every year, do a cost seg, and use depreciation to reduce their tax liability dramatically.Their personal wealth snowball grows much larger and much faster than their W2 counterparts who give most of their money back to the government each year.Following this strategy as a real estate professional is one of best ways to end up with a much larger net worth at the end of your career.
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22 February 2025 | 14 replies
I’d recommend interviewing a handful of companies, asking for referrals, and making sure the team you choose has a multi-layer review process—so it's not just one person handling your books, but a team with oversight and checks & balances.And totally agree with @Markus Shobe: you get what you pay for!
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20 February 2025 | 46 replies
Tenants should pay for that.My lease considered normal to be a few items hung using 1" nails or smaller.
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31 January 2025 | 6 replies
The hang up is getting deals formally drawn up.One idea:- I buy the property and pay 25% DP, then they provide capital after the closing and I pay them P&I over 5-10 years.
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5 February 2025 | 4 replies
When you draw from the equity, you are "borrowing" it from the bank and have to pay interest.If you borrow against the equity at 7% interest and then loan it out at 15% interest, you are earning a positive 8%.
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30 January 2025 | 10 replies
My attorney stated not only must the person who failed to pay taxes be given notice but also the squatter as well since our suit names persons who were in possession of the house.
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2 February 2025 | 0 replies
After fully renovating both units, I refinanced to pay off the loan and held it as a long-term rental.
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28 January 2025 | 12 replies
It’s paid off, I would “like” to leave it that way & maximize the cash flow while paying down the heloc between the rental & other income.
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19 February 2025 | 4 replies
I was willing to pay a higher upfront cost and sacrifice a greater monthly cash flow to achieve these top two priorities.We landed on a SFR in Harvest, AL.
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4 February 2025 | 87 replies
Who pays when the resident breaks the agreement and quits paying?