All Forum Posts by: Mark Welp

Eric, Makes sense. I would still recommend that book if you have not read it. Tom Wheelwright is a pretty smart guy. If you have any questions or need any tax guidance, let me know. Thanks,

Eric, You are going to get tons of different answers and opinions on this, so I would definitely do your own homework and education. Being a CPA, I would advise against rental properties in an IRA. You are putting a tax shelter inside a tax shelter. For rental properties, I would just use cash and then refinance or use bank leverage in the first place. This is a lot more easier than in an IRA and you get to use the cash flow now while still paying no tax. Read the book “Tax Free Wealth” by Tom Wheelwright before you make any decisions. Thanks!

Rick, I live in Blacklick as well. I like Union Savings Bank. Send me a message and I will send you my guy. Thanks!

Eric, Just a question to see if I can help, why does the higher price trigger a tax bill? Is this an income tax bill? If you have a buy and hold rental and if you are doing your taxes right, you should have a net loss on your rental and owe no taxes. Let me know if I can help. Thanks,

Spencer, if you want to invest in real estate, I would advise for you to do some research on Infinite Banking as a place to store your wealth. Getting the match is great, but I would not put any more into qualified plans if your goal is financial freedom. I have 4 policies now, but I wish I knew about Infinite Banking when I was your age. I am not an agent that sells these, but Infinite Banking is very powerful.

Thank you for the feedback!

Hello, I have recently bought a SFH investment property in the Cleveland area and my property manager has found a section 8 tenant at a good rental rate. However, it is taking forever for the Cleveland Housing Authority to come do their inspection (longer than a month). Is this typical? I just want to make sure my property manager is doing everything they can to speed up this process. This just seems very long. It is a lot faster in Columbus, where I have rentals and live. Thanks!

Austin, would you mind PM’ing me your lenders info. I am always looking for new lenders. Thanks!

Get a cash value life insurance policy and store your cash there until you are ready to invest again. Good return, safe, and liquid.

Welcome Teddy!