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Started By
Message
re: Information for my fellow Real Estate Investors
Posted on 5/18/16 at 1:21 pm to TheOcean
Posted on 5/18/16 at 1:21 pm to TheOcean
quote:
How much capital did you start out with?
50k
quote:
When do you recommend using a management company?
any out of state investments OR something outside of a 50 mile radius of your home. I invest all over and i use property managers. With more properties in your portfolio they lower your management expenses. It is all written off anyway at tax time. If you buy right to begin with in GOOD markets all across the USA you will still make good cash flow just maybe not what it was a couple years back. Anyone saying the property management is killing all their monthly PCF bought wrong in the beginning. Now would it be nice to get that % for management back each month? sure, but do you want that headache? Are you close enough to do it? All factors to consider. Make sure you vett them and have backups just in case.
quote:
How hard is it to get a loan with student debt,
IDK
quote:
really good credit, and a decently significant salary?
shouldn't be a problem. You should be able to get plenty conventional loans of course following fannie mae rules once you get over 4 as restrictions tighten. You are allowed 10 conventional. After that it is private lending or cash buys unless you roll everything into an S-corp(which i just found out about).
quote:
Are there any good links to tax blogs about REI?
here is a link
LINK
This post was edited on 2/8/17 at 9:52 am
Posted on 5/19/16 at 9:32 am to Fat Bastard
Seems like property management is the way to go. Especially when I read it's a tax write off.
Do you normally buy a property and then place it into your LLC? I've read that some banks will not give you a conventional loan if you intend on placing the property directly into an LLC.
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