Inspired by a fellow Moshe @moseskagan - new introductory tweet:
I’ve been buying and operating value-add apts & SFH part time since 2016 in a rural but promising area. In 2022 I doubled from 13 units to 26, and on track to close on an additional four unit building by year’s end.
Selling a property. Need to do renovations on my house that will cost approximately the same amount as the proceeds. Pay the taxes and spend the cash on the renovations? Or do a 1031 exchange and take out a home equity loan to pay for the renovations?
People like to talk about the great tax benefits of real estate but what they don't tell you is if you make less money but are counting on a big refund due to paper tax losses, the IRS can withhold that money from you as long as they feel like while they're "looking into it."
I am owed an amount close to one month of my family's gross income from 2023. I filed a proper extension and filed my taxes in July. So far no answer as to when or if they will deem to give me my refund.
We're middle class. That money makes a difference to us.
Apparently you now have to file a FINCEN BOI report for every single entity? Each one requiring me to type my name and address four times and upload my driver's license twice?
Crazy stuff
almost manic manner of speaking without a break really made me wonder what's his deal. Unfortunately I started guessing drug abuse is the culprit...
2/2
Recently toured a large rural property. The 50-something y.o. man who showed me around was a study in contrasts - clearly quite well educated, professionally accomplished, wealthy, elite athlete (at least in his earlier life). But his appearance and
1/2
So the guy who scammed 2,000 people for a conference that didn't happen and had a class action lawsuit (Google Jake Kostecki lawsuit) went away.
Then came back as Constant Raise Dan and got kicked off again.
And is now back as the LP Whisperer. Fun stuff!
No one who's a real investment professional can post that much per day on here. Has to be a social media professional (or addict) posing as a RE investor.
@PunkyCovfefe@FinPhilosopher Came here to say this. They're getting those services covered by the rent, and getting less "house" for the "same" money, so it's not comparing apples to apples.