All Forum Posts by: Monica Marker

@Monica Marker - If I were you, I would house hack a multifamily to reduce your living expenses while simultaneously searching for a 5-10 unit commercial property. What's great about commercial property is the loan depends on the income of the property and not you so it allows you to scale a whole lot quicker. 

At the end of the day, getting a deal done on a SFH is pretty much the same work as a multifamily hence why not amplify your portfolio on your first few deals. If you house hack a 3-4 family and buy a 5-10 unit, you could be up at 10-14 units in a matter of a year. With rent increases, mortgage paydown, appreciation, tax benefits, you'll be close to your financial freedom number in 4-5 years.

gotta love the tax-basis step up @Steve Vaughan! Hopefully that rule stays the way it is.

@Monica Marker many real estate syndications have a 3-7 projected hold. They tend to offer greater diversification and lower down-side risk if you're with an experienced group. Then when it sells, you can cash out, buy your dream home, and hopefully have some leftover to keep playing with tax efficiently  :) 

It's easier if you qualify as an accredited investor. Those offerings are called Regulation D 506c, if you don't qualify, there are still some groups that offer what's called a Regulation D 506b and allow up to 35 "sophisticated" investors who are not accredited.

If you inherited it recently you may not have taxes and may not need to 1031 exchange into something new.  We inherit at market value or stepped-up basis. 

How long ago did you inherit it?  Did you do any improvements?   Hopefully a tax pro can chime in.