Kin Lay
Game: Lower taxable income through real estate investing?
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?
Dan Gongora
Freedom mentor apprentice program. Heard of it ?
18 January 2019 | 6 replies
The gentleman who gave me the info later sent me a link to the "pre apprentice program" roughly 1k but seems to be worth it (my opinion as a newbie with no deals under his belt yet) what I've heard and read is they base the price according to what you disclose during the interview as far as liquid cash or available credit on a credit card.
Jonathan Jaime Velarde
Keep Maxing My Roth IRA or Have More CASH to Invest???
30 May 2017 | 6 replies
Greetings!
Carlo Michelotti
W-9s & 1099s: How do I pay contractors "under the table"?
3 April 2019 | 56 replies
I always get invoices and always send out checks or use my Credit Card.
Elizabeth Garcia
is receiving monthly rent in cash bad?
27 December 2017 | 43 replies
I recently discovered that the tenants were getting paid on a prepaid debit card, taking the cash off and putting that money in my account.
Brentin Hess
Direct Calling Systems and Structure
20 January 2023 | 26 replies
However, I have supported local investors put together their list and send out their yellow letters and post cards.
Scott Graham
Wholesaling in Massachusetts
16 March 2017 | 10 replies
It took a bit of navigation, but I searched for document types, with a date range from January until now. http://www.masslandrecords.com/MiddlesexSouthThe first, is 91 Groton School roadThe second is 37 Pleasant St.You can cross reference with your town assessor field card, drive by, or move to the next.It is the old fashioned way, but it could get you started.All the best,Melanie Berchtold
Jessica H.
First-Time Landlady: How to collect rent from cash-only tenants?
21 February 2018 | 55 replies
(Thanks @Greg Scott)- Deposit only ATM cards.
Sachin H.
Applicant 19 year old and no credit history
23 February 2018 | 10 replies
The 19 year old says that his account is locked out and the system says he has no credit history to go to next step as he has no credit card. ( He is been living with parents and friends so far) The property manager called his employer and he is clear there and I did a a state public criminal record search and nothing found.