Recent content by usctrojancpa

I have a Taycan GTS Wagon.

All cash purchases too....very interesting. All I have to say is LAUNDERING.

I have no shame calling out listings that are overpriced.

That was a complete FBC outlier. Here's a more recent closed comp of a larger detached condo that closed for $1,660,000 in late Dec. 2024. https://www.redfin.com/CA/Irvine/82-White-Blossom-92620/home/58556563

My Taycan was getting 220-240 miles but I am getting 300+ in my Macan EV.

The listing is still overpriced by $100k+. Who made the ultimate decision to list it for $1,859,000 last fall?

Booking tax free gains is never a bad thing.

Not really because all my mortgage are fixed rate loans under market and all of my rentals are martially cash flow positive (except for the home in Las Vegas that I bought for my dad which I pay for and he just pays the utilities).

Got word yesterday afternoon that we closed. The sales price was $910,100 or about $11,000 over the asking price. Congrats to both the buyer and seller.

Yeah, I'm up to my eyeballs in loans but most all of my loans are real estate loans so those loans creative positive leverage for long-term appreciating assets.

Before a calculation of the tax there needs to be a deep dive into calculating the basis of the home by looking at closing costs paid at the time of purchase, tallying up all improvements made to the home (this includes any personal property that is sold like refrigerator/s, W/D, furniture...

The interesting thing that I've been running into with more and more of my sellers now is that their gains are north of $500k so analyzing the tax situation is becomes a very important discussion. A lot of those sellers are selling and moving that equity into their next purchase to keep the...

My couch wouldn't be as comfortable if I had that much under the cushions. :ROFLMAO:

Yes, over that was required for qualify to purchase the home. Being self employed and getting a loan is not a pleasant process, they probe very deep.

I can contribute up to 25% of my net income to a SEP IRA up to $69,000 in 2024 so it's even better than a 401k which has lower limits. I'm been maxing out my SEP IRA contributions for the past 15 years.