All Forum Posts by: Rene Garcia

@Joe Villeneuve. Not in the area he's referring to. I'm looking and there and it's true. May take 1 year or 2 to get up to positive cash flow

@Loic Assobmo. Great question, I'm wondering the same thing. Sorry I can't help

@Brent Coombs. Brent, thanks for your response. Not worried about the loss at this point. The negative cash flow would not be from rent but from"other" expenses. I could sustain that for a year or two where by then we'd be at zero cash flow and the tax benefits would far outweigh the rest. I'm just having a hard time believing the tax benefits we would be that good. No question we would get more, but that much?

@Michael Tripp. Thank you thank you. I'm learning a lot from a simple question that I thought wasn't going to be responded to. This was my first post and true to self, I'm getting some expert advice. Glad I joined

@Russell Brazil. Thanks, you're clearly very knowledgeable. You're talking calculus while I only understand algebra. Only understood very little. Would you mind talking to me like I'm slow. Very green here

My wife and I make a combined income of nearly 300k in our W-2 job. We don't own any property and are getting killed in taxes. Last year we paid about 60k in taxes alone. Our accountant said that buying a 4-Plex apartment at 855k at 4.85% FHA loan would actually give us back 30 to 40k. Therefore only having to pay 20 to 30k in overall taxes. Does this sound correct? Already qualified for 1.1MM FHA loan and looking around southern California. Just hoping someone can confirm this tremendous benefit