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Matrix Mastery Group

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The HENRY Investor

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5 contributions to The HENRY Investor
Saving Taxes on Tiny Homes (second opinion)
I asked Amanda Han - author of the Biggerpockets book on Tax Strategies for Real Estate. Here’s what she said about the large deductions on tiny homes.
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New comment 15d ago
Saving Taxes on Tiny Homes (second opinion)
1 like β€’ 15d
Michael, thanks for reaching out to Amanda on this one. As with everything in investing, legal and life in general, it's important to discuss within the context of your specific details and situation. The first question we're looking to answer here is if the tiny home is Personal Property or Real Property (real estate). From my research there are 2 primary qualifying parameters and one consideration: 1. MOVABLE: There are different types of tiny homes, what classifies a movable property is if it is fixed and anchored to the ground/foundation. If you're looking to take Sec 179 and auto bonus dep, you'll want to look into something like this boxhouse tiny home that does not require concrete foundation or anchors as it is small and heavy enough to be anchored via its own weight. https://www.boxhouse.com/videos/ (see installation video) 2. LAND OWNERSHIP: additionally if you do not own the land that the property is on, the tiny home will be considered personal property. 3. STATE/COUNTY: Most states follow the above guidelines and allow you to do a Personal to Real Property conversion if the two above conditions are met (ie. the tiny/mobile home is affixed to the ground and the land is owned by the tiny home owner) In the case of the tiny home that I am purchasing, we do not own the land and they are movable.
Anyone interested in writing off their W2 taxes the easy way?
My partner in Subto created a way to write off all your W2 tax liability using Tinyhomes. For every $50k down you can write off $366k (edit I forgot to take 60% bonus depreciation on the $660k) of your income and you'll get ownership of 50% of a tinyhome that will be rented out and fully managed by the group on Airbnb.
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New comment 16d ago
1 like β€’ 24d
We're hosting a session later today to talk through the deduction opportunity!
1 like β€’ 23d
Sorry everyone I've been bad at replying as I'm in Florida relaunching one of my properties. https://docs.google.com/spreadsheets/d/1OWS8Ac5LbBATlVspgtcs077n98oGKsTKHIF0pMAlTHI/edit?gid=1958395996#gid=1958395996 I built a calculator to determine tax savings and how much downpayment you'd need on this strategy
2.875% Subto in Fremont, CA
Hey everyone, our team locked up a Subto deal in Fremont California. This is 3bed 1.5bath townhouse. We are looking to wholesale this deal. Please send me a private message for more details. Looking forward to connecting with everyone.
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New comment 1d ago
2.875% Subto in Fremont, CA
0 likes β€’ Nov 27
What's the down payment you're looking for on this one?
John Her
Has anyone worked with John Her from Creative Deals Facebook group? Feedback?
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New comment Nov 13
3 likes β€’ Nov 13
I am friends with John Her through real estate. I purchased a Creative Finance deal that he recommended to me. Really knowledgeable and generous guy in the industry whether it be creative finance, business buying or lending.
Google Template: STR Property Calculator with Bonus Depreciation
Hey y'all thought I'd share my Creative Finance STR Underwriting spreadsheet: 1. Template for underwriting STR deals accounting for all expenses and considerations 2. Bonus depreciation write off calculator based on your annual income, filing status, and property purchase price tinyurl.com/ryanyee-sheet It's a bit hard to follow and don't have time to do a full tutorial and write up on it now but thought I'd share.
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New comment Nov 15
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Ryan Yee
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4points to level up
@ryan-yee-4259
Converting my W2 Taxes into Vacation Homes On a journey to $0 in fed taxes in 2024 investyee@

Active 44m ago
Joined Sep 15, 2024
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