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30 May 2017 | 6 replies
We can work with the facts about person A:- W2 before tax income of 70K- Less than 1 year full time work experience- International travel at least once a year ($2500/yr - airfare, hotel, 50% meal & entertainment cost); assume person A will do land and cultural exploration, spend at least 4 hours a day during travel to speak with real estate agent, visit potential investment building and collect their business cards- Utility expense of $115 ($45/mo cell phone, $40/mo internet, $30/mo electricity.- Rent ($500/mo)- single with no kid- person A is interested in doing a coding bootcamp ($5500 cost) and find a part time web development job in the future; knowledge from coding bootcamp can also help person A to gain knowledge with automation in his current W2 job- Does not own any business, but sometimes would talk about side business or investing opportunities over dinner table with friends and family (average cost for those dinners per month $300)- Share a name with his mom on a residential property while paying $9000 property tax per year.Here are some opportunities for person A:- 18,000 contribution to 401K- 5,500 Roth IRA or SD Roth IRA- maximum 25,000 rental real estate loss- purchase rental real estate with mortgage and take depreciation and property tax and other fees for rental real estate investment.- tax lien investment- open a LLC- Real estate opportunity in Bangkok or Manila (USD$50,000 for apartment, 0.5% rent to price ratio); foreigner can only own condo, not land- Real estate opportunity in Malaysia (USD$80,000, 0.5% rent to price ratio); foreigner can own land- Real estate investing opportunity in Brazil, Greece, or etc.- purchase land through tax sales, find construction company to build and rehab houses.Here is an example of basic tax liability for person A if he does not participate in creative investment activities using 2016 tax rate:Salary 70,000401K contribution (18,000)Roth IRA -Property tax for Primary Property (9,000)Bootcamp as miscellaneous deduction (5,500)Taxable Income 37,500Tax Liability (932.5+15% over 932.5) 6,417.63How would you add or modify this sample strategy to help person A to lower his tax liability and turn it into investment fund?
30 May 2017 | 2 replies
Electric, gas, or water?
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9 March 2017 | 4 replies
Most of the projects that I've done since purchasing the property are in that category (roof replacement, electrical service upgrades, etc.).
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14 March 2017 | 11 replies
Apparently I'm having a major Electric furnace problems since my Electric bill in December and January was $657.
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26 November 2019 | 15 replies
Only take out what you need to perform the work stay away from footings and interior columns ,Use a pump type bug sprayer to spray whatever your spraying Hint copper green You can dilute with mineral spiritsOne to one Don't forget to Wear protective clothing,throw away type tyvek suite and the proper respirator.
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27 October 2017 | 14 replies
Unlimited service is included, so if the tenants see a single bug, I can have them out there spraying the place.
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27 November 2018 | 20 replies
I spoke with a retired electrician who stated that space heaters can pull LOTS of juice/electricity.
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7 March 2018 | 30 replies
Also, do you have a single builder you work with or are you the builder and you contract everything out individually (i.e. electric, plumbing, faming, etc)?
4 November 2017 | 5 replies
One issue I don't love about the current setup: one electrical service entrance/meter and the current owner (bank) pays all utilities for both tenants.
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9 November 2017 | 4 replies
I’m also assuming that there is at least common-area electric that must be billed to the landlord.