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30 June 2020 | 1 reply
Obviously, this can depend on how you define success but for a newbie, what should their focus be?
9 July 2020 | 9 replies
Since the map for you is much more wide open, instead of recommending an area for you to search I would suggest having a conversation with a realtor or a few to define what you are looking for in an area.
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8 July 2020 | 20 replies
But first it takes clarifying that end vision, then defining the strategy.Hope that helps!
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8 July 2020 | 4 replies
They can vary between B and C class neighborhoods however, so you need to define your criteria and know the neighborhoods well or work with someone you trust that does.
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2 July 2020 | 3 replies
This will define legal bedrooms.
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2 July 2020 | 4 replies
You cannot accelerate the depreciation of your entire property to a 5 year schedule, however there are many components of that property that can be.
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4 July 2020 | 15 replies
The IRS does not care if you buy a house, improve it and sell it or buy computer components and assemble them into a PC.
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6 July 2020 | 20 replies
Your goals might be different -- define the goal and then see if the property meets that criteria.You might want to consider running numbers in the BiggerPockets calculator, but they have a fantastic rule of thumb to help quickly gauge cash flow and COC return -- take total monthly rent x 50% ($1,125 per month), add your PITI (lets call it $1,175 per month - $650 mortgage, $425 taxes, $100 insurance), add up those two numbers (1125+1175 = $2300 per month), and subtract from your monthly rent of $2,250...based on that model, you'd be looking at a $50 cash flow loss per month.
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3 July 2020 | 2 replies
If you want that first one to still have an investment component, then house hack it either renting out the rooms or finding a home with a basement apartment.
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6 July 2020 | 7 replies
Getting a job is a defined 40 hours a week (or 50+ in my case), very known time requirement.