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All Forum Posts by: Tyson Hosey

Tyson Hosey has started 41 posts and replied 187 times.

Post: newbie REI...KINDA freaking out about taxes.

Tyson HoseyPosted
  • Rental Property Investor
  • St. Louis, MO
  • Posts 199
  • Votes 22

@Brandon Hall Follow-up- just listened to your podcast and that is some fantastic information. I know it was only a couple months back, but do you still use/recommend Xero?

Post: Setting Up Investor MLS Alerts

Tyson HoseyPosted
  • Rental Property Investor
  • St. Louis, MO
  • Posts 199
  • Votes 22

Agents, if you have an investor who asks you to set up alerts for them, how does that work? Is it just an email that gets sent out like a mailing list as soon as a property pops up that meets the criteria?

Post: Using 401K to fund REI

Tyson HoseyPosted
  • Rental Property Investor
  • St. Louis, MO
  • Posts 199
  • Votes 22

I just did a 401k loan, not withdraw. no penalties, 4.5% that gets paid back to the balance of my 401k (not the bank)

there are some other specifications to it, like I could only take 50% of my total balance as a loan, they take it right out of my paycheck as repayments, if I quit or get fired I have to pay back the balance of the loan.

read up on it, but it's a way to avoid the penalties

Post: Owner Carry and tax advantages

Tyson HoseyPosted
  • Rental Property Investor
  • St. Louis, MO
  • Posts 199
  • Votes 22

@Dave Foster I completely agree. People love tax free/deferred taxes. Thank you for the information.

Post: Owner Carry and tax advantages

Tyson HoseyPosted
  • Rental Property Investor
  • St. Louis, MO
  • Posts 199
  • Votes 22

@Dave Foster wow. That is fascinating. Do you have to explain that to every seller any time you want to do that, or is it a pretty well know strategy? I feel like I have enough of a hard time explaining the advantages of seller financing. However, if I can add this to the explanation, I feel like it just adds to the benefits that the seller gains by carrying the note.

Post: Best way to hire property locator/bird dogs?

Tyson HoseyPosted
  • Rental Property Investor
  • St. Louis, MO
  • Posts 199
  • Votes 22

I'm interested in real estate related jobs and things that I can do to help others and learn at the same time. I'm in a position where I would need to do it virtually, but I feel like I would be able to be affective. So someone in my situation might be who you're targeting, if virtual PL is something that can work for your business.

Post: Real Estate Related Jobs

Tyson HoseyPosted
  • Rental Property Investor
  • St. Louis, MO
  • Posts 199
  • Votes 22
Deren Huang great ideas, I wouldn't have thought of the title company. I wouldn't mind the admin jobs and certainly would enjoy having open access to the MLS... thanks for the ideas!

Post: Real Estate Related Jobs

Tyson HoseyPosted
  • Rental Property Investor
  • St. Louis, MO
  • Posts 199
  • Votes 22

@Robert O'Keefe I like that idea a lot actually. But I'm waiting on that for when I get back to my original market (I just moved across the country). Once I get back there, I'd definitely be wanting to do that.

Post: Real Estate Related Jobs

Tyson HoseyPosted
  • Rental Property Investor
  • St. Louis, MO
  • Posts 199
  • Votes 22

Hello BP!

I have been struggling with the job that I'm currently employed in. I want to get out and do something else and after some soul searching I really just want to do Real Estate Related things. I understand that being an agent has it's swings and its a lot of late hours and so forth. However, I'm curious as to what jobs within the real estate realm there are that are maybe more consistent in hours and income.

Mortgage Loan Processor?

Some sort of assistant to a real estate professional?

Post: Withholding Taxes When Using Rental Income

Tyson HoseyPosted
  • Rental Property Investor
  • St. Louis, MO
  • Posts 199
  • Votes 22

@Account Closed That's not a bad idea.. I might have a chat with my CPA and set that up first thing in 2017, seems like Q1 would be a good time to start that.