Good information ! Sell = taxes potentially Loan = non taxable income, points deductible, interest deductions etc Then all the business deductions and the depreciation on the house....... Goldmine ! Maybe,look into 1031 exchange, you can potentially parlay 1 into 3 more homes if the numbers work right, having net of 4 rentals Really great job Btw - what's your roofing company name?
I assume that you’re going to use the BRRRR method because it would be really hard to have all your money tied into these properties. The good thing is you have a roofing company and you’ll still be able to produce active income as well as the passive. Great job!
Case do you have a mentor? You have great insight into wealth and tax strategies that take years to learn. I think what you have accomplished is fantastic. Congrats on getting the build done in 60 days!
Just curious. General contractors are paid 20-30percent the value of a house. As the general contractors of your houses why do you not pay yourself or subtract that amount if you are selling the house. That will reduce the profit and amount that you get taxed on.
using the tax laws/rules to avoid having to pay tax is where the wealth is found, and as you stated, the time put in, you can't get that back, so you already know instinctively what has the most value, saving the time invested by keeping these assets and not selling but refinancing so that you don't pay taxes but pull cash out tax-free.
