All Forum Posts by: Andrew Syrios

It depends on your tax bracket, but it will be taxed at the ordinary income tax levels. If you hold for over a year, which only makes sense to do if you actually intend to hold and rent the property, it would be taxed at capital gains levels. 

Welcome to BP Peri and best of luck investing!

Welcome to BiggerPockets Thomas and good luck investing!

Welcome to BiggerPockets Tony! You've certainly come to the right place to learn!

Welcome to BP Chris and good luck investing!

Welcome to BiggerPockets Kyle and best of luck investing! I can't really answer what's the best way to become financially free, but I do think whatever you can do to hold real estate long term is the way to go.

I'll run down the list real quick:

1. It really depends on your market and price point. Generally speaking, I aim for 25% because banks loan 75% on investor properties usually, so that's what it takes to BRRRR out completely. That would be my general recommendation, but it depends on how tight your market is.

2. This is tough for me too and a lot of people. You get better with practice though. My best recommendation is to explain how you arrived at your number. This way, it doesn't feel like you're just firing off a heartless low ball.

3. They don't necessarily need to be in very bad condition. It's more about the seller's level of motivation, which could be high even if the property is in good shape. Usually it will require some work though, but if you're less experienced, I would avoid the massive projects.

4. The Millionaire Real Estate Investor is still my favorite real estate book, although it doesn't have a huge section on marketing, it's still good.

Welcome aboard Jesse and best of luck!

Welcome to BP Austin and good luck investing!

Welcome to BiggerPockets Margarita and best of luck investing!