All Forum Posts by: Julien Jeannot

That’s a CPA question and “it depends” is my standard answer as a CPA. Because everyone’s situation is different, it's impossible to provide an answer without looking at your entire tax picture.

Couple of variables off the top of my head, and that is the start of a long list:

- How are you taking depreciation? Standard, cost segregation, bonus?

- What is your personal tax liability and where does that put your tax bracket at?

- How is the entity held? Trust, personal, S-Corp, ect?

- What other revenue streams do you have?

- Do you qualify as a RE professional?

1 Vote

Tacoma, Washington

Welcome!

All standard lease agreements I have seen prohibit tenants from running business on the premises. As others have posted, it opens you up to liability and can be a source of nuisance in the neighborhood.

Aside from that, I can’t think of freezer relation issues that most renter’s insurance wont cover.

0 Votes

Tacoma, Washington

I’d agree with the folks here. Its about focus and dedication to the art.

Find who is killing it in your market and work for them to jumpstart your career.

1 Vote

Tacoma, Washington

Quote from @Bruce Woodruff:

Your experience is typical! Most Contractors, even/especially the best, tend to be very good at their trade, but horrible at running a business. This is why most either fail, or never make as much profit as they could/should.

A book on basic business accounting would be a good start......but those are so dry, and most contractors brains are wired differently, that's what makes them good at what they do…..

I agree, I’ve had plenty of conversations with contracts to help them with the business end of things.

2 Votes

Tacoma, Washington

Never heard of it. My go tos to cash out are HELOCs or refinance

0 Votes

Tacoma, Washington

Hey @Lucy Yusuf!

Welcome and congrats on taking the plunge. I’ve started my real estate investment with a house hack and the rest is history. I’m also a fan of Marysville and Lake Stevens area.

Feel free to reach and I’m happy to share any insights.

1 Vote

Seattle, Washington

Wild,

No idea, but curious to find out as well.

0 Votes

Seattle, Washington

Welcome to BP!

BiggerPockets has amazing resources to draw upon. I’d also recommend a call with loan broker to figure out how much and the requirements.

As far as what type of property, my personal favorite is to house hack a 2-4plex as a first time investor.

0 Votes

Seattle, Washington

Why not both?

The GC could be a complimentary to the brokerage business. I’d recommend scaling those up and building a team to run both. I would agree, both businesses are lead intensive.

0 Votes

Seattle, Washington

All Forum Posts by: Julien Jeannot

Julien Jeannot has started 6 posts and replied 750 times.

Post: Navigating increasingly complex rental regulations in Washington state

Post: How much taxes do I need to pay on my single family rental?

Post: New tenant has deep freezer

Post: How long does it take to get into wholesaling?

Post: What books would you get for your contractor?

Post: Shared Equity Alternatives to a Home Equity Loan- Unlock

Post: New investor, looking at Lake stevens, Marysville etc markets

Post: Fire escape ladder inspection

Post: The first multifamily home is for me and for investment purposes.

Post: A Fork In The Road: To Be a GC or a Broker or a ?