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Recent content by CJRealEstate

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    HOT TOPIC How many of you guys pay virtually nothing in taxes due to write offs?

    Yes, you would be correct. You would still owe taxes. Nothing is ever tax free.
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    HOT TOPIC How many of you guys pay virtually nothing in taxes due to write offs?

    Assuming he is in the US, I am not aware of any situation where you could take a full deduction for buying a house in the year you buy it.
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    HOT TOPIC How many of you guys pay virtually nothing in taxes due to write offs?

    Sorry for the confusion. I’ll try to help. Basically In my state I have my business classified as a real estate rental Company. These are rental properties I’m buying. Therefore they are for bringing in more rental income to my business entity. That allows me to subtract the cost from the...
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    HOT TOPIC How many of you guys pay virtually nothing in taxes due to write offs?

    Yes, I am a real estate investor /agent. I’ll try to help explain. This doesn’t factor in depreciation fully in the year though. I operate a few LLCs taxed as an S Corp. I usually am set up for a salary at a percentage income tax level. I add up rents and sales income around October. I Figure...
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    HOT TOPIC How many of you guys pay virtually nothing in taxes due to write offs?

    Well I always get with my accountant before the end of the year and see if I can purchase a house or two in cash. I’m also not making big millions yet like some of you though. I will buy a house or two in cash to lower my tax bracket and income levels. The banks already won’t loan me any...
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    INTRO My Intro and Story

    I blew up so many trading accounts before I found what I could consistently make money at. Most investors and clients I deal with didn’t make large sums and consider themselves successful until 40 or 50+. You are right on track. Don’t give up you’ve got this.
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    Finally achieved my third goal

    I completely agree. The basics are pretty similar in most businesses if you think of it as profit loss and scalable. The way I’ve been able to create value is exciting. I treat tenants very well. Any issue is fixed ASAP. I train and teach tenants how to apply for a mortgage then I usually wind...
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    Finally achieved my third goal

    My plan is to continue to sell houses as a realtor. Commercial is taking a hit in my market so I might buy an apartment complex. If I don’t find one that meets my criteria. I will just keep selling until I find a high ROI opportunity or business to build. Real Estate and stocks have always been...
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    OFF-TOPIC Just quit my job in the middle of my shift. thoughts?

    Similar to how I quit my job. I was treated like trash running a multimillion dollar retail store for years. Stressed to the max knives guns getting pulled. Prostitutes in the parking lot. Homeless living outside. Oneday my heart was physically hurting and I was going to the er or quitting...
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    Finally achieved my third goal

    This is my second post so bear with me. My first goal was financial freedom. My second goal was to quit my day job. I moved up through the company and was there for 12 years. Basically I have spent my last 7 years buying old houses and fixing them up. Cash deals no debt. I am finally finishing...
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    INTRO Just wanted to say this forum is great.

    My name is Chandler. I am a real estate investor. I am glad to learn and talk with fellow fastlane minded people on the site. I’ve read the Fastlane and tons of articles on here. I just want to share my story and where I am going. I worked for a major pharmacy for 12 years in the slow lane. I...

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