All Forum Posts by: Lane Kawaoka

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When I was doing turnkeys in 2012-2015 I was in Birmingham, Atlanta, Indianapolis.

Other popular markets: Gary (IN), St Louis, Huntsville, Phoenix/Tempe/Mesa, Kansas City, Memphis, Little Rock, Indianapolis, Harrisburg (PA), Greenville, Jacksonville, Tampa, Houston, San Antonio, Little Rock, Milwaukee, Cincinnati, Dayton, Cleveland, Ohio, or other secondary or tertiary markets. 

I would be wary of operators under 500k-1B in assets.

@Sahil Rohra

You're on the right track understanding real estate tax strategies. When you sell a property, you have to pay back the depreciation you claimed, a concept we call depreciation recapture. Like in my first rental in 2009, I deducted $6,000 a year (1/27 per year), which was great for offsetting passive income at the time.

But selling means recapturing that depreciation—had to deal with a $30-40k recapture on my first sale. Plus, there's capital gains tax, but it's straightforward. The cool thing is that recapture is taxed lower, which adds to the tax efficiency of real estate. If have a video on this if you like.

Investing in real estate is all about these nuances—deferring taxes, leveraging time value of money. When you do recapture, it's often at a lower tax bracket. For deeper tax benefits, look into syndications and private placements. They use cost segregation, allowing massive depreciation in the first year—changes the game entirely.

I've been there, started with a single rental, then moved to 11 turnkey properties. Eventually, I shifted to syndications and private placements. Sold seven rentals in 2016, faced a $200,000 capital gain and recapture. But thanks to prior investments in syndications, I had ample passive losses to offset it. 

Of course a lot of CPAs don't have a good grasp on this so let me know if you need a referral.

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Welcome!

That's how I started as a civil engineer. Bought a house to househack then out of state turnkeys. Then once became accredited stopped buying little rentals. It just takes a while.

I like the hourly billing. More mature companies (those that charge more) tend to move clients to packages cause they make more.

Be cautious when selecting a CPA. You want someone who's genuinely knowledgeable, not just using the typical methods you'd find at H&R Block. Keep in mind that a lot of these CPAs are outsourcing their work abroad, billing you at rates like $150 to $200 per hour, but only paying the overseas workers $28 to $50 per hour. Took me a while to find mine, they don't do podcasts/youtube or on forums marketing.

That depends on your discussion with your CPA who signs off on your return. Finding these open minded CPA is the hard part.

Being an agent has nothing to do with reps because you need active participation in your real estate portfolio. Not buying/selling for others like an agent would do.

Think more like get a rental or two or a short term rental to get those hours.