How Get Rich and Avoid Taxes with a Duplex or Multi-family Home.
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- เผยแพร่เมื่อ 12 พ.ย. 2018
- Learn how to Get RIch and Avoid Taxes with Duplex investing!
Duplexes are a
Theduplexdoctors.com for duplex investing in the Twin Cities!
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I own a duplex in the Seattle area my mortgage is 2700 a month. I rent out one side for 1600 and I lived in the other side so I only have to make the difference up which means that my rent as 1100. I have a roommate who I split that rent with so I actually only pay 550 a month which allows me to house hack. And save the rest of my income for more investments. For a better detailed explanation you can check out my TH-cam channel for videos on house hacking but essentially this allowed me to go from 24k a year and rent to 6k a year and saving all the rest.
My cousin, Jarred Kelenic just got traded to the Seattle Mariners.... I'll check out more of your content .an
Thanks!!! This is amazing and very helpful!
I own 1 duplex zone for triplex...will be building a 3rd unit soon. And I own a single family home, zoned R2 and building a 2nd unit in 2020. Building is cheaper than buying right now.
What region are you in?
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I live in Tucson, AZ. I own a total of 4 properties, 3 of which are zoned for multiple family properties. I agree with you about Duplexes and Triplexes, they are such amazing $$ makers! The secret is out and it's harder to find deals or these types of properties!
Currently, I think covid19 has building prices sky high.. one can buy with as little as 3.5% down (fha). Can't build one for 3.5% of actual cost unless I'm missing something. Hold for 10 years and when you sell, you'll for sure get more than your original 3.5% .
Loved it!
How do you calculate the tax based on the part of the house you rent and where you live? Is is based on the sqft?
How has COVID affected you guys’ incomes on the multis? I am considering a duplex or triplex right now however it seems that singles would be the move.
Interesting bit of information! I happen to be in MN. Although I'm only 17 I'd love to get into this stuff, perhaps some tips would be nice as well?
Absolutely! You should seriously call drew - drew@sidebysidere.com or jason@theduplexdoctors.com for coffee or phone call
So you live in it for 1.5 years to benefit from first buyer’s tax/interest, rent it out, use that cash to pay the loan quicker or invest it in another multiunit property.
Invest more !!!
Can ypu help me find a good cpa that knows how to deal with these taxes
What kind of loan did he use to buy that property?
Is there a book you can recommend that I can learn/research more about this?
Investing in Duplexes, Triplexes, and Quads: The Fastest and Safest Way to Real Estate Wealth www.amazon.com/Investing-Duplexes-Triplexes-Quads-Fastest/dp/1419537253
BravoBline Just seeing this thanks!!
How much is realistically needed to start ?
Great question. Well, with all home buying, the less you have for a down payment, the more intereswt you'll pay AS WELL AS PMI insurance you'll pay. So - if you're putting down like 3-5%, depending on your lender... So - that's dependent on the property. 6-15k?
3.05 tells you
Are section 8 good for duplex rentals?
Why is the dude in the red shirt looking like he’s confused as his partner speaks? It’s like a weird duo...you can tell these two can’t stand each other lol but gotta finish this video 😂 cutting each other off when the other is speaking 🤦🏽♀️
No no no, that’s not at all what that is hahahaha - not at all!!!! We stand each other and we were totally unscripted and it was after a longer shoot of something else...
😂🤣😂🤣 thanks for watching though!!!
I didn’t get that vibe at all lol
Is there anyone available to walk me through the process, with a fee of course. I keep watching so much info and still can’t move. Dm 📧
You can sign up on biggerpockets and pay the membership which is $40 a month and they’re really helpful.
Only $400/m in expenses? Where is this?
Had to pick a number.
Pay your taxes.
Pay only your fair share in taxes.