Quote from @Ariel Broome: Good Day All- I purchased a property with a hard money loan under LLC #1 (the flipping LLC) , I renovated the property and rented out the property, and then refinanced it while simultaneously transferring the deed to LLC #2 (LLC holding rental properties) . 

We obtained the full financial package, and the seller's "Pro Forma" is built on a complete fantasy.The descriptive reason for the high cap rate is that the seller is using deceptive and impossible expense projections.To get their advertised 15.26% cap rate, they are projecting that as their Gross Rent increases by $75,900, their Total Operating Expenses will simultaneously decrease.Here's the breakdown of their math:Taxes: They assume $0.00 in property tax increases, which is impossible.

It is not a subject too as I understand it I would like someone to walk me through selling, receiving the fee, even with an existing mortgage, not opposed to a simultaneous close as long as it can be explained to me to the point where I have no questions. 

Hi community, I'm in the process of acquiring my first STR property in Joshua Tree and have met with a co-host that I really liked. I'd love to utilize their expertise when assessing a property since they are local bu...

You should simultaneously be searching on market properties since many BRRRR options appear on the MLS.

I've significantly scaled back how many texts I'm sending per day as a result, and it's reducing my cost per deal while simultaneously increasing employee satisfaction because they're having an abundance of positive conversations.

Personally, I think that house hacking is an excellent way to get started, especially for a young adult like yourself who probably doesn't yet have a family or kids.A house hack simultaneously accomplishes numerous goals, including: 1) it gets you started in REI, 2) it can simultaneously lower living expenses while creating cashflow and appreciation, and 3) (perhaps most importantly at your stage): it will teach you about REI through experience.If you can do just one househack, you will learn SO much about REI (and in many cases, you'll learn more about REI than you ever could from books/videos/a mentor, etc.)

Quote from @Denise Supplee: Hi @Fred McKinley Hughey, For a comprehensive foundation, I’d focus on a mix of books, podcasts, and practical learning.

Great question, that structure can work, but in practice it gets more complex than “just put it in a trust and you are done.”You have to look at: who’s the trustee, how distributions are handled, how the trust is taxed (non-grantor rules), and how financing/title is handled when you buy/sell from the trust. 

How can I practically expense an extra $36,360 as a 481(a) adjustment in 2024?