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29 April 2024 | 9 replies
For example, did he buy a business vehicle that he depreciates on his taxes over time?
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29 April 2024 | 3 replies
If you identify more than 3 properties that add up to more than 200% of your selling price then you have to buy 90% of them or your exchange fails and you owe all the taxes.
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30 April 2024 | 37 replies
Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).
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30 April 2024 | 43 replies
Tax advantages, appreciation, costs just a few things to consider but with a long-term view like Marcus said, you'd be in good shape to start.
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30 April 2024 | 27 replies
Oh one more tip, ask specific questions, like who is going to not say “yeah im great with communication” , be wary of this trap too because you want the PMs to focus on doing their jobs rather than answering 20 emails from each investor each week, time is our most valuable resource please don’t take up too much of it, when you say “yes” to something you are also saying “no” to something else (opportunity costs)Questions to ask:- what is the eviction process like after COVID 19 in your city (ask for details and differences beforehand)- what are the city rental regulations, what is the process to obtain a rental license, how would you rate this city compared to surrounding cities on difficulty with this process and working with landlords- how do you handle late fees and payment plans, if a tenant calls and says they’re going to be 5-9 days late but have been on time for 6 months what is your response- if multis - how do you handle tenant conflicts- why do they work in property management and how did they get there- if you could invest in any city in the state where would you and why (I love this question because it will tell you if they know where the most profitable areas are for investors and ROIs and hidden costs)- how is water/water bills handled in this city
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29 April 2024 | 5 replies
Same strategy -> Let the data drive decisions (include updated tax, interest rate, rent numbers, etc.)2.
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29 April 2024 | 13 replies
He also gets to enjoy California's low property taxes and high appreciation which has worked well for him.
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29 April 2024 | 4 replies
Well what I was thinking that I could do was look for a tax deed property in a decent area (closer to one of the colleges in town) and use my business credit to acquire the property and to renovate.
29 April 2024 | 17 replies
I don't know about Ohio but my property tax rates are 2.77%.