All Forum Posts by: Joe Szymczyk

 9

Seems like up to 10 properties many banks finance after that what's the cheapest way to get financing? Lowest APR and lowest down payments?

if one is military...if one holds 10 properties , can one use VA to buy no.11 and get financed by a normal bank owner occupy ? And still get the low VA interest rate? or how do things change after 10 properties?

Hello BP family,

I have a beach house that i bought with a va loan  312k....i have 266k left to payoff..current market value is 410K ish,...date for loan is due01/01/2043....at interest 3.25% currently locked..its a rental....rent is 1750 after property manager...mortgage is 1650... i am 45

if i keep the loan as is will pay of at 68ish....

should i make extra payments and pay off earlier.....and use the VA loan again to buy another home? (if i make an extra payment of 200dollars monthly...will pay off earlier by 7 years..so 61... or ..speed this up more?)

or let the loan ride ...till 2043? (if i do this at 69 should i be buying another property ...or leave the realestate game?...if i got another one  i would pay off when i am a 100 years old....not sure that will work)

if i dont make the extra payments ..on loan...i will put those into SP500  mutual fund....annual return 8-10 percent...

or do you have any other ideas on how to work this scenerio to win.....?

just thought i would like to use the VA loan one more time before i become 150 years old....haahah

@jason....agreed that's what I also understand...

@Bryan...what are the tax benefits you have seen?

@Cameron....yes agree on all of your post....and this is why I havent gotten into one yet.....

@son your last paragraph is interesting....I have not seen anything how effectively hide everything...

Hello 

Has anyone used an LLC for to hold their rental houses? How many houses do you need really for the LLC to benefit you?

I have noticed that LLCs do have some fees to set up...etc. 

When does an LLC really benefit one? What's the scenario? Flipping? Renting out or other?

Rental with a pool..who should pay for open and close the pool?  renter or owner?

@kyle... the DSTs...have a expiration date...I think in 10 years they won't be around?

@Dave....you followed my thought process...exactly....you are on target with your post....your advice and info...very good....thank you ..i appreciate it...

Second question thats weighing me down...in the future...i will be looking to dump all the house....and move to Mars where there is no stress...and there is peace...haha....

You listed a lot of taxes to pay on one property...multiply by a few houses this is a lot of cash...whats the solution ..for this.....move into each house for 2 years... sell take the cash tax free and move into the nextone and do the same and on and on?  or do you have another idea?

I would like to sell the headaches....i mean houses and put the cash in some nice mutual funds...and call it a day...

Thanks Tony...with that 4k deduction how much that drop your tax payable?

@Steve bought it in 2011...

Monthly rent is 1800...mortgage is 1800...but property manager charges 180 a month..

Renters come aand go on one year leases...

House may sell for 440k....40k in closing fees and possible repairs....so 400k left...bought for 370k...so maybe 30k gain....

Put down 70k

Bank says equity in house is now 150k....

Not sure this is worth doing 1031 for...either....thoughts?