The Real Estate Espresso Podcast
Business:Investing
Today show was another listener question which comes from Juanita in New Jersey. This might be a slightly longer episode than usual because Juanita has three questions wrapped up in one. She writes:
I inherited a house and I rented it to a family member. It has been vacant for 10 years. I get emails and calls daily to buy it as the neighborhood has rebounded.
I have located an interested builder to complete renovations who will get permits. Cost estimates 75k. House is paid off.
1st QUESTION: For rental properties how do I decide as the owner whether to do HELOC to cover renovation expenses or pay combo of HELOC and cash, or just cash?
2nd Question: I met with my tax attorney that told me I make too much money. I am working full time and my salary is $235k. As a result he says my max loss write off is 25k but because I make too much money I am not eligible to write off a loss. It appears my best option is to focus on depreciation and other expenses so I have no rental income/profitabilty from renting out this house. Is that accurate?
This news has been discouraging as my hope was to start investing in real estate to leave my full-time job.
LAST QUESTION: How does one start building real estate portfolio to hopefully become independent while working full-time being told the goal is to hit 0 so that I don't have increased tax burden?
I am a new jersey resident. Hoping that my hopes are not crushed.
The Bonus Is Back (Maybe)
A Shun Of The Bank, Not A Run On The Bank
Preferred Equity with Paul Moore
Land Banking with Dave Foster
Rolling The Legal Dice
BOM - How to Make A Few Billion Dollars by Brad Jacobs
AMA - How to Scale?
100 Million Vacant Square Feet
Unintended Consequences
Leasing Performance with Peter Roisman
Oil and Gas Exploration with Eric Rice
Developing Our People and Leadership Skills
Quarterly and Weekly Progress
Developing The One Year Plan
The Long Range Planning Process
Establishing and Reaffirming The Company Mission
Architecting for Energy Efficiency with Justin Greenleaf
20 Lessons with Steve Suh
Value Engineering The New Energy Codes
Value Engineering in 2024
Create your
podcast in
minutes
It is Free
The emPOWERed Half Hour
U.S Property Podcast
Aligned Money Show
Dubai Property Podcast
The Ramsey Show
The Clark Howard Podcast