cant beleive its been 5 years and were now in a completely diff place and for ppl who can look at the big picture and take ad vantage of the low prices and all the ppl selling you can pick up some cheap stuff when ppl dump and also since a few of the players are dumping the reason not sure bc i am getting the feeling again we will see a bull run if threre is even mild bullishness once a few things align and if the fly wheel starts when land and soul keep suck up dec and dec b even if sps goes up like 2 cents or 4 cents to 4-6 that makes me like 40K and if it rips to .5 ill take a quick 200K profit and sell half and then hold half letting my nodes replenish my sps and use the 200K to buy half in real estate half in a distressed or self storage fund or mhp fund and half in the tax lein fund ive been looking at for 100K total which will bring in cash flow of 8K for the tax lein fund paid monthly and 8-10K cash on cash in pref returns with expected refi in year 3-5 100% cap return and then hold for 5 additional years reaping cash flow and get a final pay out later for expected IRR of 25% and annual total of 17K expected cash flow from rents and other gains and 50K refi in year five and a few more years of cash flow and then the final sale payout as well as allthe passive losses like 70% ish on the MHP value which is like 150K gross real estate and 100K of deductions year 1 which would off set most of the gain and then other pals would do the rest and let me instead of pay tax acquire additional real estate o avoid tax and keep growing tax feewhich is the key to growing wealth by investing so that you canget good returns while legally deferring tax until you die bc it basically doubles the amount that works for you instead of is wasted by giving it to the govt. Plus if you can keep yourincome low and cash flow high you qualify for alot of free shit and grants bc it goes of agi which can be manuvered if you dont have a w2. Like next year i plan to roll over my traditional ira convert to a roth use my additional writes offs i had this year to offset tge rollover and get it tax free and after 5 years can withdraw it and re contribute to my solo anddeduct it all again and dothe dame thing lol and keep deducting and then converting my traditional balance at least twice by doing it during yearsi purposely deferincome and accelerate losses. Also i have a few years to file so i will get like 100kback from a carry back when trump changed 19 and 20 i planned for it and also the 15 k for two years if you get covid tests made sure i got 10 so i canb get the 500 a day credit upto 5 K each year and was feeling symptoms and had covid for at least 50 days either seeking diagnosis , quarantine etc so 10K there get those covid credits and max that shit out if possible if you can bc 30K in 15 years invested in real estate wouold be likely a few million based on similar deals ive seen finish. When i did taxes i realized how important it was to defer taxes and invest it rather than pay it to the govt ifyou look hard enough you can always find a loop hold to take advantage of to keep your money and instead make it work for you creating passive income which will be one of the only ways you can gain financial freedom from having to do anything you dont like and can be extremly picky about any work or jobs you agree to bcyou dont need it if it has anything you dont like. For example if its not a 1099 i wont do it period bc i cant sheild it from taxes well and i also prefer to work for my self and never a gain a company that always has rules you dont like or since i hate working in a suite and prefer my pjs now i prefer to just stay at home and work on line for myself. It makes it easier now im in the USVI with a view of the ocean and next year will prob move to san juan depending but after i get my refund this year it will add a lot of extra income which will just make my life much easier it deff paid off to work my ass off when i was younger bc im thanking my self now bc i couldnt imagine only having 2-4weeks vacation when i usually have like the whole year and work on things i want to work on only and never work a full day just stop when i get tired and watch tv gotothe beach or go out with the neighbors or firends etc. Also see a lot of opportunity here to invest as well and once i am able to get everything set up which is super slow ill be investing in a UTV 4 seater to drive around with massive tires maybe wrap in SPL wrap lol But will be fun to take that out. Might try and make a boat out of wood see if i can doit and also make a tiki bar to put on the upstairs deck to so we can have ppl there and use it also will build a thing so i can work outside to. I might hold off of the car if i can manage to just need a care 2 times a month to get food and take the trash out as well as a few other errands i figure if ican do that and buy a lot of food especially going into hurricane season stock up on a shit load of water and canne food as well as a few tanks of propane for the oven and a generator then im all set and if it is to hot i can goto the uvi library and just plug into there internet directly figured out how to bypass needing credentials and plug my own cord into the walldirectly lol Its nice and coldin there but im getting used tothe heat and at night its nice. This next mnth will be pretty easy since i really wont be leaving the house area i need to catch up on work and im just going to take a month or two get a shit load of food on the cab ride back and just load up so i wont needto leave since im up inthe mountains and the walk is pretty far to the buss thing and cabs can never find the house but once i get all my tax refunds i may buy that off road vehicle lol. Well see if its over 100K then ill consider it if say its 125K ill use the 25K to get it and probably drive it for free since i can write it all off get 12500in tax benefit and likely sell it for 13-14K after a few years with the tax benefit etc ill come out break even on it which is a perk of owning a business you can deduct many things w2 jobs prevent you from doing and that is deff on purpose bc most ppl have w2s sothey bone that source of income so they get more revenue and less ownbuinesses plus all the ppl that govern own companies so they of course dont want to pay tax and now that i know all the rules i figured i would apply it to me and not pay either lol Ive gotten to work less and make more since my cash flow is actually what i keep and it is like double that if it were a w2 where i pay for everything after tax but now i canwrite off my equipment , car , apt, cost of moving down here part of the time , cost of travel , basically half of almost anything if i have to do with work which is most of the time so 80 % ish is a expense and some times a credit which helps out my cash flow a ton. America has crazy laws but they have great loopholes if you can figure out how to find them and use them to plan for your income to be at the optimal level regard less of cash flow which is much higher than 18K which is optimal for maxing benefits and credits lol get a ton of free shit and when the inflation is high and the govt bones you its time to milkthem for evertyhing you can get bc they sure as hell are not there to really help you there there to make sure you stay unable to get out of the rat race by trying to get you to buy into the need for a big house with a mortgage and kids early etc and expensive engagement rings and all pointless shit that if yiou dont do it or wait until you make money then you can just stop and spend time withyour family in your thirties if you worked hard young didnt follow the advice of invest 10% but did like 80% and also looked at alternatives instead of accepting 7% returns are good lol most alternatives 15% was my worst return lol and many inthe 40% irr per year and alot higher to. In order toinitially invest in many of the deals i had to checkthe accredited box yes to get in them and its supposed to protect me but it made me accredited lol no one is going to tell me i cant invest bc they think its to risky lol when you can plop it all on red with no permission which makes no sense or invest in sotocks pink sheets buyer be ware with no permission and they think apt complexes are not stable lol fucking idiodic govt.
You are viewing a single comment's thread from: