All Forum Posts by: Alex Rodriguez

Oh and most importantly @Robert Darling "THANK YOU FOR YOUR SERVICE" :)

Hi @Robert Darling. 

Sorry to do this to you... But just stop and take a breath. Its great you caught the financial freedom bug but you need to start within first. Your first step was to admit that you spend more money than you really need to. But if you start investing and bringing in more money, you will just spend more money. I am 1000000% with  @Brian Garrett. best advice on here in this state of the market. take advantage of this heavy market and spend more time on homework. 

Best thing I would do if I were you is to change your means of living. If im mistaking, i believe you said you had a family so assuming you have 2 incomes, start with trying to live off of the larger income ONLY for 3 months. then 6 months. If you can do it and adapt that. then you successfully changed the hardest part of being financially free. You can do it... Because i did it, and now instead of trying to get to a finish line that keeps getting further from you (your means of living expenses), Im going to be financially free faster than I projected. 

Take care Robert.

You need to establish a re pore with a good CPA. A company is only as good as their accountant. Find out are they going to be by the book or are they going to help you keep your money? As far as the LLC thing, dont worry to much on that unless you start making a lot of money in real estate. The worst thing is not starting cause you think you need an LLC. Or worst! You have an LLC and you think you've started and you never do! Just go out there and start. But definetly find a good cpa to guide you. You will eventually need one.

There's always a niche in any market to invest in.... Just need a lil thinking outside the box. Besides when the feds announce no rate hikes for a year, then dont expect a real recession in the housing market, especially since we are still below 3% inflation rate. Its going to be more of a global issue at this point. When and "IF" a recession occurs, its only going to bring the prices down around 15%-20% (mild recession). Personally I dont think there will be one. Maybe a slow down (sideways market). I would just be picky on what areas I would invest in (small market areas). Lucky for me im in florida.. why do I say lucky? Lets figure this out.. we still are in a very low interest rate level. This year is when the tax rate on high tax areas like N.Y. will hit people hard for the first time. Baby boomers are in the retirement stages by now. Florida  has no state tax. And spring time is the begin time of when northern areas start putting their homes on the market to sell after the winter. Like my favorite saying "Do the math!" Get ready to here how florida will be the only booming market and probably only state that doesn't get a recession affect.

Wait. Is it your primary home since you said you lived in it? Then you dont pay C.G. for a primary. If its a rental then why dont you 1031 exchange the C.G?

Not a problem. You seem very sharp so I don't see you having a problem in the housing enigma of the investing world. Just remember that if you do good the first time, that was just luck. You have to fail at least once to be considered getting something PERFECT. Go get them @Minh Nguyen !

@Kenye Serna

Number 1#: Dont invest in Miami. Markets like Miami or any other big market right now have a really low ROI (return of interest). Go to a smaller, new upcoming market.

Number 2# Invest in index funds instead.

or number 3# Dont do anything if its liquid. right now cash is king. Strong dollar means nothing is better.. at least here in the U.S.

@Mitchell T.

Count me in on your next meet up plz.

Hi @Minh Nguyen 

Good to see you are doing the steps to invest in your future. 

"You" are always the best person to ask whats best for you. Perfect example is your first blog on here. You stated "the numbers seem to come out better for me with a 3x2 condo, considering that I can "actually afford" a 20% down payment on a condo compared to a 5% FHA". 

Also always consider thinking of the worse case on your options like, not that you are going to rent one side out of a duplex and you live in the other, but can i afford it if i cant get a renter for, lets say 6 months?

Or can i afford a "special assessment" for what ever reason the condo association needs one if i buy a condo.

Good luck and take care.

Heres the only part that got me interested:

"Capital gains placed in a certified opportunity zone fund will not be taxed through the end of 2026 or when the investment is sold, whichever comes first."

And @Jahbari McLennan yes basically anyone can do this. The titles they use are: "individuals, corporations, businesses, REITs, and estates and trusts".