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3 January 2025 | 8 replies
From the now, much lower, valuation, you have a path to recouping your capital over the next 5-7 years, but this is a disaster.
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2 January 2025 | 14 replies
A good tax accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in business taxation, financial planning and tax planning.I would also recommend looking for a accountant willing to work with you throughout the year.
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4 January 2025 | 23 replies
You're doing a great thing for your financial future.
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20 December 2024 | 10 replies
It is a fundamental of all financial analysis.
31 December 2024 | 15 replies
Fast forward to today and I am financially free with in Painesville, Ohio a 27 unit, 24 unit, 21 unit, 20 unit 15 unit, 12 unit, 8 unit, and 6 unit.
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6 January 2025 | 9 replies
Brother B could be convinced to see things my way but has had some financial strains lately so it might be an uphill battle. 5)My mom is in memory care and did not do any end-of-life planning so my brothers and I are footing the cost of her care.
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17 January 2025 | 22 replies
@Martti Eckert here's the big issue that no one really talks about that you hopefully find helpful (this is copy & pasted):-----------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?
31 December 2024 | 8 replies
Account ClosedI recommend that have a consultation with your tax accountant and/or financial advisor on ways to reduce your taxes.
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31 December 2024 | 6 replies
A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.
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27 January 2025 | 35 replies
Here is my simple Top 5:1.Review the market – Understand the trends and conditions in the area.2.Analyze the property and the numbers – Ensure the deal makes financial sense.3.Visit the property – There’s no substitute for seeing it firsthand.4.Meet the team – Whether it’s your property manager, builder, or contractor, relationships matter.5.Complete inspections and appraisals – These protect you from costly surprises.If all these boxes are checked and the numbers work for your goals, then it’s likely a solid deal.