mrdeeno

Please reread my post. Key word is "easier", NOT "easy" (please point out where I said unloading a single unit was "easy"). that word makes a big difference in the point you are arguing.

hornyleprechaun

You did say easier, but it's easier to eat 1 m&m compared to 10 m&ms at once, but yet both are easy.

synth19

Thanks guys for all the advice. I'm still not sure if I want to go right into a multi unit property for an investment. It might make more sense to get a single unit for now, get a feel for it, and then expand. My only fear is missing out on opportunities and when the market stabilizes, not getting the deals that can be found now. Maybe I should just say screw it, and put the money down into a high yielding CD instead.

Costco

Great thread, one day I hope to make enough money to be able to own an apartment complex so that it can be a somewhat reliable source of income, but I never thought of becoming a corporation for tax/liability benefits.



But one question: how do you guys learn all this? I'd learned about S and C Corps, LLCs and Sole Proprietorships when I started a small business with my friends but its been a while. Do you guys read books or take classes for this stuff?

hornyleprechaun

I'm getting my Masters in Accountancy right now and for whatever reason I decided to take Tax 2 as an elective.. I hate learning tax, but sometimes it's useful. You could always buy the book and self teach yourself.

yunginTL

you can learn urself, especially if thats what ur lookin to major in, or pay for the advice from an expert

Costco

^^ thanks guys

hornyleprechaun

FTR you do not need to know accounting to learn tax. There are a couple people in my Tax class that did not major in accounting as an undergrad. Tax is an acquired taste IMO.

Tomy

iTrader: (2)

great read... but mrdeeno, how did u afford all that so young?

synth19

"Tax is an acquired taste"

hornyleprechaun

I love accounting, but financial accounting is no where near as enjoyable as tax. You have to love tax to learn that shit... Just happy this will be my last tax class ever! As long as I pass

Fibonacci

Have you looked at REIT's or REIT ETF's lately, plenty sporting double digit dividend yields. In the last six months I haven't bought a bond yielding less than 12% Plenty of opportunity if you know where to look. I considered expanding my investment real estate portfolio too, but decided in a deflationary asset environment (hopefully temporary), I'd much rather have broader diversification of risk.

mrdeeno

Went to work for a pretty decent engineering company after college and traveled 95% of the time for 6 years. All expenses were paid plus allowance (which a lot i saved), my 401k was maxed out and the rest of the income went into stocks. Plus being out of the country so long I got income taxes back for 2 of those years.

while still traveling I learned my friend's parents wanted to sell their building, so I did research and looked into it and cashed out my stocks, got a loan, and bought it when I was back in town (vacation and comp days added up too while traveling, so I'd take 2-3 weeks off at a time). The first 2 years were rough while I was trying to cut back on the traveling and had a family members help me take care of things while I was away (paid them of course), but then took over all responsibility once i transferred to a job with about a week of travel every other month.