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surveyor
Participantread the article
If you read the article, it actually asks and tells Muslims to renounce terror.
Participantread the article
If you read the article, it actually asks and tells Muslims to renounce terror.
ParticipantSanA/Phx
They made a big deal about San Antonio being bigger than San Diego about a year and a half ago in the UT.
ParticipantSanA/Phx
They made a big deal about San Antonio being bigger than San Diego about a year and a half ago in the UT.
Participantfp
Go talk to a financial planner who has a real estate focus. If you are still trying to build your wealth and are not near retirement, consider http://www.pacblueinvestments.com. Give them a call and they can give you some options. They do run real estate investment classes, but they are worth it.
Participantfp
Go talk to a financial planner who has a real estate focus. If you are still trying to build your wealth and are not near retirement, consider http://www.pacblueinvestments.com. Give them a call and they can give you some options. They do run real estate investment classes, but they are worth it.
Participanttaxes
Look for more tax breaks. As a self-employed person, you should have access to a lot of tax breaks. Maybe you are not accessing them all.
I do question having that $600 student loan if you have enough money to pay it off (using your emergency account). Maybe you should pay it off more aggressively? The only reason to not pay it off would be if you had another loan which had a higher interest rate. If it’s your only loan, maybe you could just pay it off and keep the extra.
Certainly looking at your situation, you are playing it safe, but if you want to get ahead, you will have to take some risks. There are trade-offs and you will have to ask yourself if you are willing to do that to get ahead.
You’re right in that it is a different playing field for you than it was for your parents. It is not easy to just get by nowadays. You will have to work smarter (and I do not mean just your job, I mean in every aspect of your life). Superior financial skills, appropriate risk-taking, and keen analyses are required of every person who wants to get ahead.
(I recommend viewing the Robert Kiyosaki PBS Special that they run every time they hold fundraising and the book The Inside Guide to Real Estate Investing Loopholes by Diane Kennedy and Dolf De Roos).
Participanttaxes
Look for more tax breaks. As a self-employed person, you should have access to a lot of tax breaks. Maybe you are not accessing them all.
I do question having that $600 student loan if you have enough money to pay it off (using your emergency account). Maybe you should pay it off more aggressively? The only reason to not pay it off would be if you had another loan which had a higher interest rate. If it’s your only loan, maybe you could just pay it off and keep the extra.
Certainly looking at your situation, you are playing it safe, but if you want to get ahead, you will have to take some risks. There are trade-offs and you will have to ask yourself if you are willing to do that to get ahead.
You’re right in that it is a different playing field for you than it was for your parents. It is not easy to just get by nowadays. You will have to work smarter (and I do not mean just your job, I mean in every aspect of your life). Superior financial skills, appropriate risk-taking, and keen analyses are required of every person who wants to get ahead.
(I recommend viewing the Robert Kiyosaki PBS Special that they run every time they hold fundraising and the book The Inside Guide to Real Estate Investing Loopholes by Diane Kennedy and Dolf De Roos).
Participanttaxes
Also, one more note – the tax deduction in the calculation above, only part of it is depreciation. There are other expenses and tax breaks you can access if you invest in real estate. So technically the tax deduction portion can be greater than the number I’ve shown.
sdrealtor, you crack me up.
Participanttaxes
Also, one more note – the tax deduction in the calculation above, only part of it is depreciation. There are other expenses and tax breaks you can access if you invest in real estate. So technically the tax deduction portion can be greater than the number I’ve shown.
sdrealtor, you crack me up.
Participantdepreciation
Yes, Dave, you are correct that you are not able to depreciate the land. However, the part you are able to depreciate is about 90% of the purchase price and the other 10% is chattel depreciation, so it comes out about the same.
As for fuzzy math, sure, it’s not exact to the penny, but it more than illustrates how correct my statements were.
Participantdepreciation
Yes, Dave, you are correct that you are not able to depreciate the land. However, the part you are able to depreciate is about 90% of the purchase price and the other 10% is chattel depreciation, so it comes out about the same.
As for fuzzy math, sure, it’s not exact to the penny, but it more than illustrates how correct my statements were.
Participantdreaming
Living the dream. Being the dream.
yours truly,
The Dream King
South Carolina Property (4 unit) Purchased August, 2006
Purchase Price: $230,000
Downpayment: $46,000
Return on Equity = (Cash Flow + Appreciation + Loan Reduction + Tax Deduction)/Downpayment
{all values annualized}
= (2400 + 0.04(230000) + 0 + (230000/27.5*0.33))
= 31.27%Participantdreaming
Living the dream. Being the dream.
yours truly,
The Dream King
South Carolina Property (4 unit) Purchased August, 2006
Purchase Price: $230,000
Downpayment: $46,000
Return on Equity = (Cash Flow + Appreciation + Loan Reduction + Tax Deduction)/Downpayment
{all values annualized}
= (2400 + 0.04(230000) + 0 + (230000/27.5*0.33))
= 31.27% -
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