All Forum Posts by: Kalyb Coats

I found a trailer park......18 spaces ......14 filled.. 2 houses on the property (not habitable) ...All the trailers are owned by the tenants. The spaces are renting for 200 a piece. Its on city water and sewer. I have to go look at the houses end of the week to see if they are rehab worthy. So thats where im at. 2800 gross per month on whats rented right now.  Whats a good expenses percent average? 

I agree with @Jeremy Tillotson even in Wyoming or Colorado where snow is more abundant most years, unless it states one way or another on the lease, I wouldn't do it... You may be stuck with it now though. Im personally renting a house and I shovel mine, plus the 2 old ladys living on either side of me. Just seems like common sense to me that the tenant does it, unless its an apartment complex or something.

Very inspiring and motivational! Excited for you!

If I am purchasing another performing business with plans to close my existing business are there any tax tips I need to know of? to me it would seem that I could write it off as a loss because I didn't really profit money in my existing business if Im spending it on a purchasing the new one...I know the money is not in my pocket but will the IRS see it that way? any help will be appreciated

thanks

kalyb

Baha ha ha @J Scott 

I heard they are  working on a new book together, it takes up all there investing time. Slumlording 101 by @Ben Leybovich and @Brandon turner.

All joking aside and coming from a newbie that has no business making such jokes Brandon and Ben I think your definitely investors and if yer takin a small break or waiting for that perfect sexy deal to pounce on, then at least im greatful for the knowledge and humor you guys have bestowed apon the bigger pockets community in the mean time!!

Merry Christmas!! I hope everyone is having great time with family and friends. This is my motivation and the reason I am eager to learn the world of REI.. Be thankful to be with loved ones today!!! P.S Drink a whiskey and Eggnog for me!!

Welcome to the site! This place is full of awesome people and awesome information! I feel like a kid in a candy store daily. If you haven't listened to the podcasts.. I highly recommend it. sooooo much info. excuse my excitement but I just listened to podcast #37 with Aaron Mazrillo.. My favorite podcast so far.

I'll tell you what, Ive lived a lot better making 50 to 100k than I do at 200 to 300k. taxes being one reason. but just the sheer amount of hours and time away from family and friends is what takes away from life. If your making that big money and your in the "1%" I sure hope your doing something you love and its a passive income stream, because if not you might as well be broke. (as I sit out in the middle of Wyoming doing the exact thing im saying not to do ha ha ha )

Awesome and Inspiring !!

If you can find a good instructor through Keller Williams that's my recommendation. They will help you get licensed, then after they will give you support and cheaper office space as well as good training on how to run your business. Maybe just the Keller Williams I went through though, I cant speak for all of them.