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1 November 2021 | 13 replies
It's the vehicle of investment and ownership that changes format but there is a demand for every form.
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7 December 2023 | 3 replies
We currently use Buildium the they do provide a way to have separate accounting for the business without a new account and Buildium is more than double the cost of renttec direct-- so I was looking at options.Is there a way to track assets and liabilities like property improvements, mortgage payments, depreciation, and amortizations, and vehicles in renttec direct?
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11 April 2022 | 8 replies
Thus, I prefer my investments of: - Stocks (Primarily available after-tax - i.e. outside of, not exclusively in 401ks and retirment vehicles)- Real Estate- Private businesses- Cash and equivalentsAs I generate more and more wealth, I should be able to then have options like: - Picking a great school district or sending children to private school- Investing in a full-time nanny or Au Pair- Sending them to the college of their choice- Traveling to foreign countries and providing a unique experience- Etc.
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23 October 2022 | 6 replies
Just keep that in mind, and don't spend your HELOC money on depreciating assets, like vehicles, toys, vacations...
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6 August 2017 | 14 replies
Land Trust seems a good title holding vehicle.
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9 December 2023 | 13 replies
But if you own secondary property such as a rental home, vacation property, or even a co-owned property like a timeshare, these count.Extra Cars – Your primary vehicle will not count, but any additional cars and recreational vehicles do count as assets.Life Insurance – The cash value of a life insurance policy also counts.
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10 December 2023 | 3 replies
Those of us who chose real estate investing as our business vehicle, still get “high” from successfully concluding a “deal”.
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10 December 2023 | 10 replies
Term soley focuses on protection, and depending on the provisions provided by the company, there are term policies that can convert into whole life throughout the policy's coverage period (Yes, they are out there).Whole life, and thisbis my opinion, is one of, if not, the greatest savings strategy and tax advantage vehicle in our nation'a history.
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27 October 2022 | 2 replies
My income is mostly from rental property (single family) but I still do some residential construction (mostly remodeling).my pickup (07 Tundra has a transmission issue - for now just a check engine light) will need replaced within a year or maybe two. 1) Construction Co.Would make the most sense for a serious deduction but since I've focused more on rental property my construction company doesn't gross enough to make the purchase of a new vehicle a viable one, probably get audited and then not sure what they would do.2) Rental property wouldn't make sense either because it would be an administrative nightmare ( CPA says) to divide every expense up per each home.If I change to having them all owned by a single LLC then if someone won a lawsuit against me, I could lose it all.Deductions for now since I use my truck for Construction, Rentals & Personal is based on mileage or I just get the standard mileage deduction (7k).Just trying to be wise before I just do something.Any thoughts on this would be appreciated.Thank you, Joe
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29 August 2017 | 5 replies
I also recommend getting a mileage tracker so you can deduct vehicle expenses (there are many phone apps available).