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31 January 2025 | 0 replies
Imagine making millions of dollars over the course of your career and then having to pay 30-50% every year to uncle sam instead of compounding that cash over time.This is exactly what real estate professionals have learned to mitigate.To reduce their taxable income, they just buy a building every year, do a cost seg, and use depreciation to reduce their tax liability dramatically.Their personal wealth snowball grows much larger and much faster than their W2 counterparts who give most of their money back to the government each year.Following this strategy as a real estate professional is one of best ways to end up with a much larger net worth at the end of your career.
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12 February 2025 | 8 replies
Finding tenants to pay your bills is the hard part.
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5 February 2025 | 6 replies
If it is not adding up, and you can find an attorney specializing in that type of thing, it may be worth paying for a little of their time.
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8 February 2025 | 10 replies
Because, for instance, if I am flipping a couple of properties and I am in the middle of the rehab, but it will take a couple of months for them to get finished and sold, I may be paying $4000 on hard money debt payments per month, and if that debt is included in whether or not I will qualify for a refinance, then I may not qualify.
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31 January 2025 | 6 replies
The hang up is getting deals formally drawn up.One idea:- I buy the property and pay 25% DP, then they provide capital after the closing and I pay them P&I over 5-10 years.
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8 February 2025 | 21 replies
It is a small town, definitely a tertiary market right now, but that is where opportunity is going to be found.I think LTR, in the right location, can provide enough revenue annually to cover all holding and leverage costs while the resident pays down the principle and the demand in the city sustains slow and steady appreciation.
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16 February 2025 | 10 replies
I can’t give condos away and many investors are under water as they either re-financed, took out a reverse mortgage or had non/paying tenants carried over from the COVID moratorium.
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28 January 2025 | 29 replies
Regarding your other questions: - If the going value is $260/SF, why would you pay more than that?
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27 January 2025 | 25 replies
My experience in Massachusetts, where it took nearly a year to evict a non-paying tenant, has made me more selective about the locations I invest in.I am looking forward to learning and sharing insights with this community!
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10 February 2025 | 27 replies
You pay on those gains. 2.