All Forum Posts by: Domenick Cava

@Caleb Heimsoth Thank you, just found them on the website.  Did you find Tax strategies or Davide Greene's book more helpful?

@Peter M. Thank you for the information.  That is very helpful moving forward.  I am trying to balance the legality and the efficiency for traveling/investing out of state. I appreciate the advice and your help.

Thank you @Caleb Heimsoth for the followup. I think I fouled up the intent of the question. More about business write offs in out of state investing vs. LLC utilization. I am still new to RE investing and very new to business/finance. I was hoping to learn or be assisted on where to find more information to safely write off expenses when investing out of state. Appreciate the insight and support.

Thank you @Christian Ouellette.  That is exciting to hear about your first property.  My girlfriend is from Biddeford and with flying there at least 3x per year I thought it wise to invest there and expense the trips. Right now a little more in a passive mode with plenty of life tasks occurring in the next few months.  My hope is to build a team by end of year and then work on making either 2-3 small investments or a larger multifamily in 2019.  I would love to stay in contact moving forward and would be happy to share my experiences with my first 3 investments.

Dom

Hey everyone. I am looking for some CPA, legal, or experienced advice on business write offs when investing out of state. I am currently looking at out of state investing and would like to parlay that opportunity to allow for expensed travel when visiting my girlfriends family. I was initially thinking that a LLC/partnership should be created in order to keep things clean. However, I thought it would be wise to reach out to the forums.

Any experience with out of state investing and business write offs?

What ways are the most efficient to maximize writoffs and minimize risk?

Thanks BP,

Dom

I am sure we all cover a lot of real estate, when we play golf. However, I am interested in the benefits people have found with utilizing golf as a way to bring in team members and partners.  Any experiences, words of wisdom, or interest to play golf in the Mountain View area.  

Hey all California Investor here.  Ive done 3 deals(buy/hold) including 2 condos and a single family home.  I am looking to branch out of state for my 4th deal.  I have capital and time to hustle.  My GFs family is from Maine I would love for the opportunity/excuse to visit them more often.  If you are a rockstar in the area or know of someone I would appreciate the opportunity to setup my Core 4! 

Thanks everyone your support, help and compassion.

thank you @Greg Hamer for the response. The last deal took about 12 months to finalize with falling off market and it still required moderate work. When you talk to investors on properties in higher priced neighborhoods do they still use the 1% rule or cash on cash? Thanks again.

Thank you @Autumn Rankin.  I appreciate you dropping a line.  Have you ever worked with an out of state of investor? If so anything’s stand out to you, good or bad.

Cheers!!

Hey everyone.  I am new to the bigger pockets group.  This is an amazing group of people, information, and assistance.  I have been reading and doing(investments) real estate for 4 years now.  In the last 3 weeks I have ran into 5 people who kept asking me why I wasn’t listening to bigger pockets.  It has been fun to engulf the podcasts and forums.  

I have started in the buy and hold mindset in the Monterey peninsula.  I will be moving to the Mountain View area.  My plan is to make my 4th investment in the 2019 year and will be looking out of state.  I hope to help others as much as I get helped from this amazing community.  

Domenick