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23 February 2024 | 15 replies
.$6,000 for strategizing supposing you have a monthly 30 minute phone call is $500 an hour.If the cost is $10,000, and your tax rate is 35%, they would have to decrease your taxable income by atleast $30,000 for the cost to justify the cost.
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23 February 2024 | 2 replies
For better or worse, either exiting tenant has the place cleaned or the incoming will do it (I never ask the incoming tenant, it just works it way into the conversation).
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24 February 2024 | 30 replies
Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with zero or negative relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, recent evictions.
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24 February 2024 | 8 replies
A good way to forecast rental demand is to also look at economic data from FRED - population growth over the past few years, median housing income, job growth, crime rate, schools, ethnicity mix, etc.
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23 February 2024 | 2 replies
This will allow you to acquire more rental units and also being able to use the vacated unit rents at 75% to help your debt to income ratio DTI.There is a FHA 100 mile rule if you do plan on using FHA on your 2nd house hack.
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19 February 2024 | 3 replies
Based on the available information, here are some creative real estate financing and investing strategies for generating passive income:1.
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23 February 2024 | 13 replies
If they don't set it up correctly, they could lose a lot of anticipated income and have to foreclose.Disadvantages to the buyer include, if it isn't set up correctly and the seller dies, ownership may be in question with a long painful lawsuit.
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23 February 2024 | 0 replies
For you investors that have ordinary income to write off let me tell you the greatest secret to minimizing tax liability, Cost Segregation.When coupled with zero down seller financed purchases the numbers get crazy.These numbers below are one of two parks I bought zero down with seller financing last year.This one park one year is a $140,834 write-off equal to $40,842 in tax savings and the second park is $14,000.I am projected to save almost $60,000 on two community purchases that I don't have any of my money invested into, they were true 0% down parks.Don't kid yourself, real estate is the best investment opportunity that exists.
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23 February 2024 | 12 replies
The free rent many low-income tenants got during COVID has only made their attitudes worse:(One thing to discuss with your PMC, how good are the contractors they are sending to work on your Class C and D properties?