All Forum Posts by: Gariner Trinidad

this website/forum is not very useful..every time i post a question, it is always junk replies from people with questional knowledge or no activity at all

land is not illiquid...depends on location and activity in that area

no i have not built homes before but want to get into it

I am interested in starting an LLC to invest primarily in landed properties; meaning buying lands in certain prime areas.Goal is to either sell back for profit or i can decide to become a builder and build to sell or build to rent.

Any caution or advice for this kind of business idea?

This will be in the state of Texas
All recommendations, hints et cetera are welcomed

Thanks

honestly did not get what i was expecting to get for this thread but here is a follow up question

So what happens if i buy a 4 family house but am the only one living in it? Lets say i have a big family and have family members living with me in the house. So i still only get tax deductions for 1/4? I mean is this like a hard coded thing that whatever the number of unit is they will only remove 1 unit for you and the rest you pay taxes on?

Just curious and by the way seems most of you think am some veteran or experienced investor here...if i were wouldnt post this question here..i am totally new to real estate and as the thread mentions first time home buyer and primary residence. So some terms you guys use..will be more helpful to explain things all in english without using terms for familiar investors 

As we all know we live in this society where debt is encouraged and rewarded than people paying down things all at once. We all know the incentives to keep this ponzi scheme, of the debt bloated fiat system that is not sustainable, going. The tax incentives for first time home buyers to help with deductions of mortgage interests and so on if you decide to get a mortgage and wait up to 30 years to finally own your home which by then you are probably in your 60s.

Anyways down to the real question here.
For a first time home buyer trying to purchase primary residence home, does it makes sense for me to buy the house all cash if i can afford to do it? Like i mentioned about the tax benefits for those that take mortgage and pay off loan over several years..are there incentives or benefits for first time home buyers that are able to stay debt free and buy their houses all at once? 

Can i also get some deductions off paying off the house and spread over several years as doing such is no easy task. Open to all your advice and hints and tricks here.

Lets say price of house is like $400k here in New Jersey state.

Thanks

 i provided enough information to reduce "IFs"

One i am single as mentioned in the post..i have provided so much information from hypothetical salary and rental income and property tax and i even added loan interest rate APR

 Am sure its called primary home not primary unit

anyways thanks for all your replies..am sure no one is getting tax benefits for only the unit they live in...but thanks

 Why am i only getting tax benefits for the 1/4? I mean it is a single house on one lot. What about houses called single family but people have it rented to 3 families? 

I personally know houses that are called single families but there is a top unit and a basement unit so do these people also only get benefits for 1/3 or 1/2?

also there are many ifs so maybe i can create an hypothetical scenarios that is close to reality

So lets say Price is $2M and down payment is $400k and interest rate is %3.8 APR and rental income per year is 3 x $2,500 = $7,500 per month for the remaining 3 units rented out which is $90,000 per year in income but ofcourse there will be expenses and all that like repairs and maintenance. Also i mentioned property tax is $30,000 per year.

Also lets say my income is $300k per year

I mean am sure everything is laid out here so i believe there will be less ifs now.

So my questions is what are realistic ways to reduce tax as first time home buyer..primary residence and owner occupied 4 unit house?

I mean except if the first time home buyer and primary residence thing is all craps and gimmicks i expect that i should have things going for me. And that is why i came here for some directions and what to expect.

Thanks a lot for the replies @Natalie

Yes will be primary residence and will be occupying one of the 4 units

 Make over $200k annually but what do you mean by my income will be too high to deduct the losses on paper? Can you explain this part a bit? What about interest payments? My focus on on property tax and interest payments and what is best way to maximize deductions from there.

I mean what do i have in my favor as first time home buyer here?

As a first time home buyer and single, how can i maximize the tax benefits available to me if i decide to buy a 4 unit/multifamily house that is worth $2 million and property tax of about $30,000 per year?

Will like to get ideas and recommendations from the experts and veterans here

thanks