All Forum Posts by: Aaron Zimmerman

I would definitely recommend house hacking to start. It will Ideally be a gateway to purchasing more deals and allow you to save quicker. 

I'd recommend going to local meetups to connect with other investors and those in the real estate trades to expand your network. It's cliche but your net worth is definitely your network. 

Without house hacking, you'll need to save up 25% for a rental property as an investor loan which is a lot starting out. With house hacking, you can put down as low as 3%. 

Why not both? You'll need to qualify for income or potentially use alternate loan options. Learn the ropes from an experienced agent that will take you under their wing, add value to them, and add value to your clients. Sell property and then invest yourself!

It depends How much you have to convert over to a Roth and how much you expect your income to be. I would take a look at the tax brackets published by the irs each year to see. 

House hacking is the way to go. Work with a lender to get preapproved, then start working with a realtor to find properties. In the meantime, educate yourself as to what a good deal is. Once you've done that, then move onto networking so you can actually execute the numbers in your spreadsheet 

Definitely digital. I have two properties that I keep the books for and just use a google drive folder. I could definitely stand to do an upgrade!

I would recommend keeping track of receipts paid for improvements and renovations. This will increase your basis and therefore reduce your gain. Closing costs also reduce the gain on sale as well (both at purchase and sale)

I would start by house hacking. Live in one unit and rent out the others or live in one bedroom and rent out the others. It requires A low down payment and you need somewhere to live anyway 

1% rule is extremely tough in todays market. To get 1% rule, you'd need to do a combination of short term rentals, medium term rentals, or rent by the room to amplify cash flow. 

I would say right now identifying cost segregation opportunities is a no brainer for many clients. As others have noted, it's a tax deferral and not a true tax savings 

There's tons of great CPAs on here and I'd recommend reaching out to a few people and see who you'd like working with.