Too many people doing it wrong and illegally, not to mention leaving sellers high and dry when they back out of the contract because they over paid and could not find a buyer.

And not only did I not paying any taxes on it, I’ve paid negative $60k in excess depreciation I use against other rental income. $530k in 15 years isn’t retirement type money, but it’s not zero or worse yet negative money either. 

California charges a minimum tax of $800 a year per LLC, and more if you have gross receipts in excess of $250k.

It is not a matter of being greedy, it’s being smart, and not taking on excessive risk for absolutely no reason.

We just pulled up all the laminate and dried it out.

We just pulled up all the laminate and dried it out.

Sold after 15 months of ownership, for ROI in excess of 20 percent.

Unless the corner is excessively busy and or noisy.

Then the cash out is deployed into other properties that generate additional cash flow in excess of the pre-refi cash flows. 

My name is Patrick, and I started my real estate career a little over a year ago by getting into short-term rentals near my house in Dry Ridge, KY.