This makes bo sense theirs no way to defer or right off the tax owed if we tie it up in realestate.

I took so many courses, if they were presented in a college, I'd have a doctorate in real estate.

After his presentation, we will open up the floor for a Q&A session.If you're interested in attending, here's the BiggerPockets event link to RSVP:https://www.biggerpockets.com/forums/521/topics/838412-house-hacking-your-way-to-wealth?

I have a jeep and a truck presently and am considering selling my jeep and buying a 2nd truck to use solely for the business to offset this $40,000 profit.

If you do all of this before you have a deal to present, then you won’t have to worry about running out of time to fund a deal.I’ve found that it’s essential to have an online presence, including a website and a social media plan that includes posting on Facebook and other social media sites, or consider having your own podcast.

Payments that you make normally fall into one of 3 buckets100% of the payment can be factored in somewhere on the returnPartial payment can be factored somewhere on the return0% of the payment can be factored in somewhere on the returnHouse-hacking also has considerable tax implications in the event that you want to sell this property.You can potentially defer a portion or all of the gain on the investment property with 1031 exclusion.You can potentially exclude a portion or all of the gain on the personal residence with section 121 exclusion

@Yolanda W Cuevas some tenants never report a single problem, then when they turn the property over to you, there are all sorts of deferred maintenance issues.

He presented the deal to me, I paid him a finders fee in exchange for him being my property manager and its been way too easy of a first real estate investment.

You presented a few interesting and predictable twists.The 5% rate they normally offer is now recognized as too good to be true and many borrowers are wising up.

I can understand the challenge the language barrier presents, especially when talking to brokers who want to know you are a credible buyer.