Being A Long Distance Investor with Cindy Byler Pt.3

Feb 25, 2021

This episode is part 3 of my conversation with Cindy Byler, the owner of Passive Patriots, LLC. She is a buy-and-hold real estate investor who primarily invests in her hometown-area in Elmira, NY, who currently lives in Central Texas.  So all acquisitions, remodeling, and rentals are managed from over 1600 miles away. 

 

Let’s jump right into this episode and learn more about house hacking, tax write-off, and primary residence.

[00:01 - 07:39] Living Flips and House Hacking

• Nathan shares about his living flips strategy
• • Capital gains strategy
  • Collecting depreciation as a rental 
• Cindy talks about depreciation from house hacking 
• • Loopholes of real estate by Garrett Sutton
  • ¾ of your property can be depreciated.
  • Capital gains an advantage.
• Read your books, get knowledgeable and ask your CPA
• Nathan shares his real estate scaling experience and his other career.

 

[07:40 - 16:59] Tax Write-off

• Cindy talks about her perspective on real estate as an educator.
• She shares about some of her first deals on duplex and triplex.
• • She talks about her father figure who helped her with a loan.
• Acquire a single-family home.
• • Acquired six units in 5 months as a new investors
  • The perks of investing in your home town.
  • Influencing her friends to start in real estate.
• Cindy talks about the tax write-off strategy.

 

[17:00 - 24:36] Primary Residence 

• Nathan shares about getting 3% down on the primary residence 
• • Get a special loan 
  • Mortgage insurance 
• If you don’t want to get the PMI you have to put the 20% down.
• Cindy talks about the $7k property.
• • Walk into $44k in equity.
• Purchase the five plex through tax option
• • At least $3500 in rental income
• Cindy talks about replacing her monthly income with the rental and net income. 

 

Mentioned Links:

• Loopholes of Real Estate by Garrett Sutton
• Rich Dad Poor Dad by Robert T. Kiyosaki

 

Tweetable Quotes:

“Read your books, get knowledgable and ask your CPA.”- Cindy Byler.

“If you go and visit a certain area a lot, and you enjoy, buy a property there to make a tax write-off.”- Cindy Byler.

“If you don’t want to get the PMI, you have to put the 20% down.”- Cindy Byler.

 

 

You can connect with Cindy on Linkedin.

 

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