All Forum Posts by: John McKee

What are your successes, failures, and aha moments?  What are your goals for 2025?

two things I have learned.  1,200 is a sweet spot for demand, and if you do have a large unit of 2,500 get a couple of them zoned for auto.  Big demand for auto repair or auto accessories.

Thanks to Texas fighting back!  However, I think eventually Big Government will win unless Trump has something to say about it.

I just learned this has now become a voluntary requirement for the time being as there is a court order to stop this reporting. We will see what the courts decide, just be aware of it. 

If you own a business even if it's a pass through LLC for your real estate you have to file a BOI Report by the end of this year.

BOI stands for Benefit ownership information.  It's a one time free filing made to the FINCEN.  It's a pain in the butt, but at least it's a one time filing.  Bankers will be asking for proof of this filing as you get loans in the future.

https://fincen.gov/boi  

Need a CPA referral for one in the fairfax area.  Thinking about switching

IF you took your 600K today and put it into mortgage notes at 12% you will have $72,000 a year or 6K a month in cash flow right NOW!  You don't have to use all 600K, but I wanted to give you another option of what it possible. 12% returns with no headaches should be a part of everyone's portfolio.  Yes you have to pay capital gains on selling your properties, but you will recover that quickly with the high returns. If I would have known about these earlier I would have bought less personal real estate, but again it depends on your goals of leverage, building wealth, risk, and your overall perception on how to handle your money.     

Try TD bank

Try to get a 25 year ammortization with a balloon in year 5.  It will be helpful if you get that lease resigned before approaching the bank.  

cash flow breakfast club is the best one in our area.  I have been to a few of these and have met Omni Casey.  There are no fees to get in, usually has about 50 + strong, educational, forced networking, and overall a good vibe.  You will walk away with knowledge and potential partnerships.  It really is unique on how they run their meetups.  They make sure you get something out of it!