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25 September 2024 | 10 replies
You can continue to invest in real estate and create more depreciation losses via cost segregation to offset the recapture though.
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25 September 2024 | 4 replies
@Ivan WudexiRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.
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26 September 2024 | 1 reply
Imagine making millions of dollars throughout your career and then having to pay Uncle Sam 30-50% every year instead of compounding that cash over time.This is exactly what real estate professionals have learned to mitigate.To reduce their taxable income, they buy a building every year, do a cost seg, and use depreciation to reduce their tax liability dramatically.Their personal wealth snowball grows much larger and much faster than their W2 counterparts who give most of their money back to the government each year.Following this strategy as a real estate professional is one of the best ways to end up with a much larger net worth at the end of your career.
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20 September 2024 | 23 replies
Please let us know at biggerpockets.com/guest For this round we're specifically looking for folks who are now real estate investors who fall into one of two experiences:Did you start your real estate journey with a significant amount of savings you were able to stockpile to start your investing journey from a well paying full-time job?
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24 September 2024 | 27 replies
It never had quite the same vibe, but by that time, I had changed, too, and my focus was less on real estate and more on business.
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28 September 2024 | 3 replies
Real estate was cheap in Mississippi, and I could purchase the home with 10% second home loan.
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25 September 2024 | 4 replies
Option 1: Dedicated Property Manager- Calls may not always be answered live, and response times could be up to 1-2 days.- However, you’ll always have the same go-to person for all your needs.Option 2: Concierge Call Center- Calls will be answered live 99% of the time by one of three team members.- These team members serve in a concierge-style role, taking calls and addressing your needs.
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25 September 2024 | 16 replies
Don’t waster their time.3.
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24 September 2024 | 8 replies
For my situation being away from home so often(I'm a Michigan resident), this would still allow me to participate in real estate but be diversified beyond a syndication.
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21 September 2024 | 2 replies
I joined a mentorship program in March 2024. I got a property under contract 3 weeks later, YAY!! Sellers wanted $1K EMD. I paid it...Didn't find a buyer and lost the deposit. Got a second property under contract....