All Forum Posts by: Edmund Fontana

Awesome! Thanks for the information.

What’s the worse that can happen if one decides to back out of a rental purchase bc of some unforeseen financial obligation?

Thanks. Appreciate the information. You taking any new clients from PA :) 

Really don’t think my tax advisor has a clue about any of this. Especially when it comes to real estate.

What are people recommending if you have an S Corp to minimize tax burden and continue to invest in real-estate.

SEP IRA

Roth IRA

401K

Self directed IRA / 401k

Well here we go. After analyzing 15 or so deals I found a great turn key rental property that will cash flow $250 a month and give me a 12% cash on cash return. My only worry is it’s in a class D neighborhood. It does qualify for section 8 housing and I have a property manager. Man it’s hard to keep EMOTIONS out of the deal. Any advice for a newbie?

So I have evaluated multiple properties and finally put an offer in👍🏻 Property cash flows $250 and has a 12% cash on cash return. I’m a little nervous though bc it’s in a class D neighborhood. It does qualify for section 8 housing. Offer was for 80K and completely remodeled. It’s definitely turn key- Very nice inside. New appliances, furnace, central air, and roof. Any thoughts on class D neighborhoods? I’m trying to leave emotion out of it. Have a property manager.

@Daniel Dietz it does. Thank you!

Thanks! We are using it for long term wealth. Just thought there would be more of a tax advantage even with our income. Let’s say my wife decided to quit her W2 job and our W2 income decrease to like $100,000. Could we then use those suspended losses?

My wife and I make over $150,000 with our W2 jobs. Tax accountant basically said we make to much to write off the depreciation of our rentals. Can someone help me understand this and is continuing to buy rentals even worth it at this point? Does seem to be any tax advantage for us.

It does. Thank you!