Ashish from InvestorFriendlyCPA.com answers a listener's question about if buying a rental in another state will help him save money on his state taxes. We also talk about if owning a rental in another state can help you save money on taxes.

Bonus: Can Rentals Help You Save Money On State Taxes? Do LLC's Cut Your Tax Bill?

Inspiring interviews with everyday people that are generating passive income by investing in rental properties. On each episode, we talk to a landlord about how they found and purchased their rental properties, how they financed them, and issues they face with property management, and managing tenants.Make sure you follow the show. A new episode is released every Tuesday.

Business

Investing

Careers

Management & Marketing

Business News

Shopping

Entrepreneurship

Mike bought a rental property that looked like an incredible deal on paper, but it turned out to be a really bad investment.Mike ran into problem after problem. The maintenance costs were higher than he projected, tenants were constantly turning over, and he wasn't able to push the rents as high as he had hoped.On this episode, Mike shares everything that went wrong, and we figure out how you can avoid buying a bad property.https://rentalincomepodcast.com/episode465

He Bought A Home Run Rental Property (It Turned Out To Be A Disaster) With Mike O'Connor (Ep 465)

Morgan shares how he was able to get double the returns by buying properties two hours away.Once he saw that he didn't need to live close to his properties, he packed up and moved 1,000 miles away.On this episode, Morgan shares how he was able to build his portfolio with a low credit score, and where he got the money from to build his rental portfolio.https://rentalincomepodcast.com/episode464

How He Doubled His Cash Flow With Morgan Ehrenzeller (Ep 464)

Mitch shares his unique strategy of buying run-down properties, tearing them down, and replacing them with 8-unit apartment buildings.We talk about why he likes to tear down properties vs buy vacant land.Mitch also shares the lot size and age of the property he targets, and how he gets the construction done in just a few months.We also take a look at his numbers. Mitch shares the typical acquisition cost, construction costs, and typical rent.https://rentalincomepodcast.com/episode463

Tearing Down An Old House And Building An Apartment Building With Mitch Roschelle (Ep 463)

Tony shares that he wanted to buy rentals for 5 - 7 years, but fear and his relationship with money held him back.Tony finally bought his first rental two years ago, and today his portfolio consists of 9 rentals.On this episode, we talk about how Tony found his first deal, we also take a look at his numbers (including the rent, his mortgage payment, and other expenses) and figure out how much money Tony sets aside for emergencies for each property.We also talk about how Tony has used hard money and blanket mortgages to finance his portfolio.https://rentalincomepodcast.com/episode462Thanks to our sponsors:The GuarantorsRidge Landing Group

Don't Let Fear Stop You From Buying Rentals With Tony Cook (Ep 462)

Peter shares his strategy of owning properties in different areas so that if the economy in one area starts doing badly, his other properties in other areas can pick up the slack.He has purchased in 4 different areas using different strategies. Some are long-term rentals, Some are Airbnb.He talks about:How he has bought out-of-state properties without going to see them in personHow he self-manages out-of-state Airbnb'sHow he was able to massively cut his income tax with one of his recent purchases.How he's financing his purchases.The areas he's been buying in.https://rentalincomepodcast.com/episode461

Bonus: Can Rentals Help You Save Money On State Taxes? Do LLC's Cut Your Tax Bill?

Download our free app to listen on your phone