All Forum Posts by: Edward Alcantar

Looking for a REI to join somewhat close to Modesto, Cali. Does anyone know if there still going on during Covid-19?

@Kyle Keller funny you say that, I'm listening to the audio book this morning.

Well they were paying 770 an month before I took ownership. Increasing it rent higher without fixing any of the problems didnt sit well with me. So that is how I came up with the 200 a week.

Hello BP,

So here the situation I'm in right now. I just bought my 1st investment property and got the keys yesterday.

There a tenant that suppose to be out by end of day. I talk to him yesterday and he told me that hes still waiting on his new place. He gave me his new landlord number and I was able to talk with her about what's going on. She ends up telling me that her renovation is behide and shouldn't take more then 2 weeks.

So with that in mind I call my tenant and told him that i can do weekly rent for 200 maximum for 2 weeks. He agreed and thanked me because he had no were to go.

So how bad did I mess up or was decent way to solve this problem?

Thank you for your input @Eamonn McElroy and @Michael Plaks. This really helps me understand how my question come off to an professional. I am uneducated in these matter and was hoping that would be pointed in the right general direction. 

I need to check on see what my company matches, thanks for the advice Randall

Nice to know, thanks randy

Hello. This is my first post on BP, and I have a couple questions for anyone who's a CPA, or has had a similar experience. 

I just sold my primary residence, I used the profits to pay all my credit card and other debt off, what's left over for investment opportunity is 100k. Also, my wife and I are on the path to make around 100k this year from employment for our 2020 taxes.

1.) My wife and I currently don't have a 401k. Would it be beneficial for us to open and max it out for our contributions this year for tax exemption? or are there other tax exemption accounts that would benefit us more?

2.) We plan on using the remaining profits we have left from our sold home in to property investment with the intent of buy and hold, is there anything we should know that would help us with next years taxes?