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18 April 2024 | 3 replies
We are looking at possibly using capital stacking to fund holding costs and a light rehab for a sub to property we own.
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18 April 2024 | 14 replies
I will continue to do research and look at the performance of different property categories, in the end I need to trust my own analysis and the data that supports it instead of generalized statements from others, even those from property managers or RE agents, or at least have them explain to me why my analysis is not correct.Thanks again for the insightful comments!
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18 April 2024 | 5 replies
Their setup does not ideally support frequent transactions in and out of your account, especially if you're looking to employ the infinite banking strategy.
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17 April 2024 | 15 replies
The big brokerages do offer great support, but your fees will be high.
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17 April 2024 | 16 replies
The support is amazing.
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20 April 2024 | 34 replies
I live 100% from the income from our holdings.
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18 April 2024 | 46 replies
By default the wealthy will read this and want to go and support you.
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17 April 2024 | 6 replies
As long as the total income reported on your tax return matches or exceeds the total income reported on your 1099s, and you have documentation supporting the breakdown of income by property, the risk of audit or inquiry may be relatively low.Pros of the approach:Compliance: Helps ensure compliance with IRS reporting requirements by matching the total 1099 income on the tax return.Risk mitigation: Reduces the risk of IRS flags or inquiries related to unreported income.Cons of the approach:Complexity: Requires additional documentation and statements to reconcile the reported income with the 1099s, potentially adding complexity to the tax return.Time and cost: The additional work required to prepare separate statements for each property may result in higher accounting fees.Ultimately, it's essential to weigh the pros and cons and consider the specific circumstances of your situation.
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18 April 2024 | 1 reply
Investment Info:Single-family residence buy & hold investment.