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15 March 2024 | 31 replies
I'm not looking to get rich or replace a W2, but I am looking to build a portfolio of properties that will eventually add to my income streams in retirement.
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15 March 2024 | 3 replies
Investors purchase income streams, not real estate.What makes an investor agent?
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15 March 2024 | 8 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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13 March 2024 | 0 replies
These deductions can significantly reduce your taxable income.
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14 March 2024 | 15 replies
If I move half of the sales price to purchase a retirement home, then spread the remaining half across two years, I can reduce the capital gains tax from $452k to $161k on $2.1m of cap gains.
13 March 2024 | 4 replies
I've previously found cost segregation studies to be highly beneficial, particularly as a strategy to offset taxable income from both my full-time employment and rental properties.
16 March 2024 | 14 replies
I've recently had the roof replaced and fully updated the common areas.Here's a breakdown of the situation: The units are currently marketed as furnished rentals (cashflow well), and based on the current income of the 4 units I own, I anticipate that all 6 units combined will gross $182,400 annually.
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14 March 2024 | 4 replies
Carrying cost loan (closing costs on loan and interest), utilities, etc can be written off from a tax standpoint to reduce your liability/
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14 March 2024 | 13 replies
They can help navigate challenges, identify market opportunities, and offer sound advice based on their own successes and failures.Risk Mitigation: Sharing the risk with other investors can reduce your exposure and help protect your assets.
15 March 2024 | 8 replies
(Someone to receive notices on your behalf)Residential income properties need a Transaction Privilege license in most locations (Rental Tax)Property Management is a specialty in the industry and it's very possible your sister has her license with a broker that doesn't allow her to do property management?