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12 March 2024 | 4 replies
Be a great landlord - Provide timely communication, responsive maintenance, and fair treatment.
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12 March 2024 | 8 replies
I would search “asset based lending“ these types of lenders may provide financing for this.
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12 March 2024 | 75 replies
We're unwilling to except what the market is providing.
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12 March 2024 | 5 replies
You may join in conversations, pose questions, and maybe even locate mentors who are eager to provide advice.Real Estate Investment Associations: Find out about regional or local real estate investor clubs, as well as REIAs (Real Estate Investment Associations), in Texas.
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12 March 2024 | 17 replies
They still haven't provided what they promised to a few friends of mine and it's been a few years for each.
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12 March 2024 | 10 replies
Factor in the age and condition of the properties, as well as potential appreciation rates in both markets.Diversification: Investing in a new geographic area can provide diversification benefits.
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12 March 2024 | 3 replies
After these sacrifices you'll start to provide VALUE to other people (investors, friends, family).
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12 March 2024 | 12 replies
This can provide liquidity for your next investment or accommodate potential relocations.No Residency Requirement: Unlike house hacking, fix and flips don't require you to live in the property, allowing you more flexibility.However, keep in mind the challenges and risks associated with fix and flips:Market Analysis: Successful fix and flips require a good understanding of the local market.
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12 March 2024 | 4 replies
.- Use cost segregation studies to expedite depreciation of your properties to offset large income gains.Entity Structure- Choose appropriate legal structure (LLC, partnership, or S corporation) with consideration for different tax implications.Tax Credits- Explore available credits, like energy-efficient or historic rehabilitation credits.Qualified Business Income (QBI) Deduction- Check eligibility for QBI deduction, providing up to a 20% deduction on qualified business income.Record Keeping- Keep accurate and organized records for tax compliance and audits.State and Local Taxes- Consider varying state and local tax implications, including property and income tax rates.Tax Planning- Engage in proactive tax planning, consulting with professionals for a comprehensive strategy.Tax Changes- Stay informed about changes in federal, state, and local tax laws affecting real estate investments.Remember to consult a real estate tax professional for personalized advice based on your specific situation.
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12 March 2024 | 13 replies
@Catherine Javier I have worked with a number of great CPAs that specialize in real estate taxation over the years and would be more than happy to provide you with recommendations if you'd like?