I love Tom Wheelwright's book. Our tax return is really full of "incentives" that the government want us to do. The government wants us to invest into real estate and pay no taxes. It's because landlords are providing an essential service to provide housing for individuals.
@deidraNg Hmm So would you also say...as a comparative- at the grocery store the ground turkey producers are driving up the cost of ground beef by rising their prices?
*If you keeps waiting on the right time, you may not get it . Start investing that little you have. The rich got rich by spending less and taking calculated risks that brought them huge returns. Procatinating kills , do it now don't wait until other's succeeds. I started Investing at 28 and now I have made a six figure portfolio, have my own house and touring around the world with my family. Saving is good,but Investing is way better*
I have a regular CPA for my taxes? I live and own a small 4-plex in California. I just started investing in small entry syndications. Should I get a real estate CPA for my situation?
All of California has rent control, other states and regions - even cities enact their own as well. Also, Sec. 8 housing (govt. rent control) is everywhere.
I’ve used that as proof of funds before. And it worked. As long as it wasn’t a retirement account. You should confirm w a lender in your area to be sure though.
You need to set up an LLC for that duplex and file tax as an LLC. Right off all that expenses as much as you can legally. Anything related to doing real estate business.
