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31 January 2025 | 121 replies
@Jeff Love Here are the things that many CPAs support their clients with:Understanding tax impact of short-term vs. long-term vs. flip before you buyWhich entity structure is best for goals and investment property typeTax and compliance on LLC or S-CorpHow to transfer property out of personal name into LLC (hard to buy 1st through entity)Ways to optimize taxes throughout the yearHow best to set up accounting to track income and expenses (doing this late is a mess)Feedback on property management systems, accounting systems. systems, etcEstimated payments to avoid penaltiesKnowing when to file and getting things in on timeMaybe a few things I missed, but this is the high-level ….. if you can get answers to the above questions on your own, plan, and file your own taxes then you can avoid the expense of a CPA.
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13 February 2025 | 10 replies
@Collin Hays I completely agree with your theme of building a local banking relationship, which should help someone build their real estate portfolio, but I have a couple of questions.When I read "conforming" and "non-conforming" loans, I think of the loans being underwritten as consumer mortgages.
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13 January 2025 | 11 replies
As I read your post, the reoccurring theme that came up was a screening problem.
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7 February 2025 | 7 replies
I have a detailed reply above that explains it and provides the code citation to read as well
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6 February 2025 | 7 replies
I read through them and ensure understanding with many tenants before signing.
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17 January 2025 | 4 replies
I’ve been thinking about partnering with a successful wholesaler and seeing if they will expand their operation to include the zip codes I am interested in.Example: I would like to partner and give money to a successful Detroit or Texas wholesaler and see if they are willing to add my Georgia target market to their operations.Before moving forward, I wanted to get some feedback and advice from those who are wholesalers or who have partnered with wholesalers.Has anyone ever heard or have experience in a partnership like this?
29 January 2025 | 20 replies
Recommend you have a great understanding of the answers to these questions before thinking about a lawsuit.You'll also want to use these questions as discussion points with any new PMC you interview.If you post the address, everyone here will be able to give you more feedback about the quality of the listing and perhaps more insights.
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18 January 2025 | 15 replies
Thank you again for your thoughtful feedback!
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29 January 2025 | 5 replies
(Respectfully- Please don't tell me to save up and quit my job it's just not realistic for me and won't be anytime soon)If you read the threads on BP concerning wholesaling, you should be able to draw a few conclusions1. 99% of people trying wholesaling fail2.
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22 January 2025 | 3 replies
Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.2.