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Myths BUSTED About Investing in Mobile Homes

Dec 03, 2020

 

Mythbusting: Investing in Mobile Home Parks

 

Common Mobile Home Park Misconceptions

 

One misconception about Mobile Home Park ownership is that Mobile Home residents frequently move compared to a traditional multi-family property or a single-family residence.

 

This misconception came about because of the term "Mobile Home."

 

However, these properties should be understood as "Manufactured Homes."

 

What other images come to mind when you think of the phrases "trailer park" or "mobile home park?"

 

Another massive misconception people have on this highly productive market is the generalization and stigma our society has (and most likely what your initial thoughts were) when they think about the tenant-type or demographic who would occupy these units.

 

"Low-income," "dirty," "drugs," "loud," disrespectful," "alcoholic’s," "redneck’s…" are just a few that come to mind.

 

Our team has found that most of that is simply...

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The BEST Ways to Get Started in Real Estate Investing

Nov 25, 2020

The BEST Ways to Get Started in REI

 

"I've got it. I understand the wealth-building principles of investing in real estate.

 

I understand the WHY… now I need to know the WHAT… then I can determine the HOW!

 

I am ready to get started" 

 

If you find yourself thinking this - I invite you to continue reading, this article is for you. 

 

The Two Best Strategies to Get Started

 

Overall, real estate investing (REI) is one of the simplest and easiest forms of investment to conceptually understand. It doesn't come without it's growing pains, though. Understanding the nuances of underwriting, contracting, negotiating, residential or commercial lending, asset protection, estimating renovations, property management, managing renovations, etc. is difficult without prior experience, and seemingly worthless unless you intend on investing a SIGNIFICANT amount of time learning this trade. Even at its highest levels, where REI is...

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Tax Tips with Brandyn Cox EA: How to Make Your Kid Rich

Nov 21, 2020

Tax Tips With Brandyn Cox EA

HOW TO MAKE YOUR KID RICH

I get asked all the time about how to hire your children in your business and create less tax burden. Well, here is how it works:
 
1) Must be a sole proprietor or partnership (No S Election)
 
2) You can hire your child, age must be under 18. You and your child won't be subject to social security and Medicare taxes or federal unemployment taxes.
 
3) You may have to pay state unemployment taxes, but this will vary state to state. One if the most expensive I've seen is MN with about $400 annually.
 
4) Issue a W2 year end.
 

How Much Can You Pay Them?

You can pay them however much you want, so long as you are paying them for wages, but keep in mind you are trying to avoid having your child owe taxes. A dependents standard deduction for 2020 is either $1,100 or $350 + Earned Income (Not to exceed $12,400). This is important because if their wages are less than their standard deduction,...
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How to Wholesale Real Estate

Nov 19, 2020

The secret to any business—real estate investments are no exception—is buying low and selling high. That’s basically what wholesaling is. But as we’ll see, wholesale real estate investors never really buy or sell a property. They essentially sell the privilege of buying property.

How to Wholesale Real Estate

  1. Develop a network of real estate investors and professionals
  2. Research numbers for the neighborhood and market
  3. Create a contract and a system
  4. Purchase properties
  5. Contact potential buyers

In retail, a wholesaler is someone who buys a large quantity of goods for a lower price per item, and then sells off each unit to retailers for a higher price. That might make you think that wholesale real estate investing involves buying a large number of homes from a developer to sell off one by one, but while that strategy exists, it’s not real estate wholesaling.

What is Wholesale Real Estate?

Real estate wholesaling essentially involves finding someone who...

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Am I Eligible for a VA Loan?

Nov 12, 2020

VA Loan Eligibility

 

If you’re considering using your VA Loan for a home purchase, you may be wondering if you are eligible. The Department of VA has specific eligibility rules for servicemembers and veterans to be able to use this awesome benefit. Before you start the VA Loan process, it’s important to know the eligibility requirements.

VA Eligibility Requirements:

 

You or your spouse must meet one or more of the following requirements to be eligible for a VA Loan:

 

* Have served 90 consecutive days during wartime

 

* Have served 181 days of active service during peacetime

 

* You are the spouse of a service member that died in the line of duty or as a result of a service-related disability.

 

According to the Veterans Affairs website--to receive a COE as a National Guard or Reserve member, you should meet the following conditions:

 

  • Have served 6 creditable years in the Selected Reserve or National Guard (must have been honorably...
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Planning Ahead: Tax Tips with Brandyn Cox EA

Nov 07, 2020

Plan for the possible with Brandyn Cox, EA


From the looks of it Biden may end becoming the next president. Regardless of how you feel about that, it would be important to understand some of the laws Biden intends to change and how that affects you. Below is a summary of items that Biden will enact:

1) Corporate Tax Rate: Unless you are a C-Corporation. You will largely be unaffected by this. However, if you own a C-Corporation, the tax rate will go from 21% to 28%. This definitely will be a pain point and require additional tax strategy to find ways to pull the money out if the corporation and have less taxes due.

2) Higher Social Security Tax: Right now there is a maximum income level until you stop paying social security tax on your wages. For 2020 it is $137,700. Meaning, once you go over this limit, no matter what. There is no social security tax. Biden's plan will leave that as is, but have it pick back up at $400,000 in wages. Under this proposed plan, if you make...
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Networking in Real Estate Investing

Nov 05, 2020

Networking

Real estate is a team sport. From buying and selling to replacing water heaters and HVAC systems, it is unrealistic to think one person will master every aspect of real estate ownership, maintenance, and investing. That is why you need to NETWORK.

My simple definition of networking is meeting people. One introduction leads to the next, which leads to yet another, and so on. In theory, networking sounds so easy! Why is it that so many of us struggle to step out of our comfort zone and introduce ourselves to more people? For many, it’s an irrational fear of rejection.

Your fear of heights, snakes, or tight spaces can be rational. These are fears developed to improve your chances of survival. Your fear of rejection from a stranger is irrational. If you introduce yourself to this person and the interaction goes poorly, what have you lost? Nothing. You have neither gained nor lost a person in your circle of influence. We have nothing to lose by talking to new people!...

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VA Loans for Investment Properties

Oct 29, 2020

Using VA Loans for Investment Properties


The VA Loan is an incredible benefit for veterans and service members. With no down payment and low-interest rates, it presents a unique opportunity. One of the common questions that we get at ADPI is whether or not you can use the VA Loan to purchase an investment property. The answer – if you’re looking to buy a property just to rent out – is “no”. Using a VA Loan requires that the borrower intends to occupy the residence as a primary home. But, there are other possible ways to use the VA Loan to purchase a cash-flowing investment property.

Using the VA Loan for Multi-Unit Properties

Although the VA Loan can’t be used immediately as a rental property or a fix-and-flip, it can still be an investment. Not to mention that you could live for free. To clarify, the VA allows VA loans as an option to purchase residences that have up to 4 units. The key here is that you must occupy one of the units and rent out...

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ADPI Press Release: Active Duty Passive Income Donates Home for Vets

Oct 22, 2020

Active Duty Passive Income Donates Home for Vets

October 22, 2020                                        

In December 2019, ADPI Co-Founder Eric Upchurch was speaking at real estate investing meetup in Kansas City, hosted by prominent and nationally expanding turnkey provider, Bridge Turnkey Investments. The focus of his talk was on service; service to country, community and to each other. 

It was there, Eric was inspired to commit to donating a home to homeless veterans. It was there, Bridge CEO Nathan Brooks coincidentally introduced him to Kansas City-based non-profit, Veterans Community project (VCP). 

On that trip, before flying back to California, Eric contacted the non-profit to see how ADPI could get involved. Now armed with a plan, the ADPI team could get to work – to change the lives of dozens of veterans who need it most.

Fast forward to today…Active...

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The Right Direction for Goal Achievement

Oct 21, 2020

Goal Focus

Just like me, you must have been setting goals for a successful life. From my personal experience, I can confirm that goal achievement comes from following various strategies that you have to implement with the doses of will-power and motivation.

Keep reading my experience and strategies that you may apply to your life to improve your health and work performance.

The Wrong Approach toward Goals

We often dream of big goals in our life and try to achieve them. However, we commit a mistake at the first step of setting the goal-- followed by the deadlines. Instead, we should set up schedules or processes for achievement. Just like me, you may have been in despair many times when you fail to meet the deadline for the goal achievement.

It would have been better if we had set a schedule and not a deadline. Instead of giving ourselves a deadline to fulfill a particular goal, we should choose a process that we can comply with and then work steadily toward goal achievement. The...

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