26 April 2020 | 47 replies
I actually attended a REIA meeting last year (I won't say where) in which the presenter, the "voice of experience" for that group, got up and encouraged investors to endure negative cash flow for up to 3 years on the insane promise of inevitable wealth and riches to be made sometime in the future.Made me sick to my stomach to watch.
29 March 2020 | 2 replies
I can't see how opening communication with a lender could ever be "too soon".
13 April 2020 | 34 replies
I bought a total gym and putit in my living room, so I use it while I listen to bigger pockets or and audio bookI have also read again Rich Dad Poor Dad, the Richest man in Babylon, Think and Grow Rich among othersI also agree that is hard to derail since we have kids in the house all day and they need attention also, but I allow myself to get off track from my self improvement routines because I can get back on track after a day off.I think it is great to hear from other people, it gives me motivation to keep going!!
29 March 2020 | 1 reply
“Previously, if a married couple had depreciation deductions that exceeded their real estate business income, the couple could claim that "loss" to write off taxes on a maximum of $500,000 in income from other sources, like wages from a day job.Under the change, our rich taxpayer couple -- and this applies only for individuals, not corporations -- can now deduct an unlimited amount of "excess losses" in real estate against income from other sources.
31 March 2020 | 7 replies
Originally posted by @Rich Hupper:Covid 19 is a bad case of the flu blown out of proportion by social media, the dinosaur media, and the fact that our society as a whole is hypersensitive to everything.Agreed.
29 March 2020 | 7 replies
A wise investor will not try to get rich quick with shortcuts.
12 April 2020 | 5 replies
Previously, if a married couple had depreciation deductions that exceeded their real estate business income, the couple could claim that "loss" to write off taxes on a maximum of $500,000 in income from other sources, like wages from a day job.Under the change, our rich taxpayer couple -- and this applies only for individuals, not corporations -- can now deduct an unlimited amount of "excess losses" in real estate against income from other sources.
1 April 2020 | 2 replies
Also, some insight on how you are communicating to your tenants and handling these unprecedented times.
1 May 2020 | 15 replies
I would say make sure you communicate and structure your plan in advance.