All Forum Posts by: Abdul Rahman

Just finished reading "Tax Strategies for the Savvy Real Estate Investor" - Interesting read, I learned you don't need real estate agent license to qualify as Real estate professional.. Does the below activities qualify towards 750 hrs requirement?1. Listening to BP podcasts to learn about real estate investing, strategies2. Reading real estate books from BP3. Looking for potential properties online and running numbers using BP calculators..4. Looking at potential properties in-person and writing offers.

Hi - Few months back we bought a condo, sale price was 192K and I paid $4k in closing cost, I paid 25% as down payment. I have started looking for our next property, want to know how to calculate approximate closing costs that I can use while using the BP Rental Calculators, I have been using $4K but given market has gone-up in our area, prices are above $225k+ for similar houses. Does closing cost change based on purchase price or loan amount?

Hi - Are there any Mortgage Brokers in this forum? I'm exploring how long does it take for someone to become a mortgage broker and the steps involved. Do you need to work for someone before you can start your own firm?

1. If you have 50K to invest what option is better?
   Option 1 - Buy a rental property of 200K, with 50K down with 30 yr mortgage. Potential Rental Income $1800/month, after mortgage/tax/HOA, cash flow is $550.
   Option 2 - Invest 50K in VTI (ETF or MF) or VOO (ETF or MF), leave it invested for 10-12 yrs.

I’m at least 10-12 yrs from retiring, so trying pick an option which will benefit during retirement.