Diversifying your real estate portfolio can balance out your income and taxes.
Julia Spencer is a real life example of an international income property investor with a diversified investment property portfolio. She discusses her gains and losses in tax liens, ‘buy and hold’ properties, and vacation rentals. She became a landlord out of necessity at a very young age; and even though she enjoys certain aspects of this line of work, she concludes that a good property management company pays for itself.
Key Takeaways:
[2:23] Julia designed weapon systems software before becoming a real estate investor
[3:56] Diversification is the key to Julia’s balanced portfolio
[5:25] Tax lien foreclosures can be hit or miss, find an experienced person to mimic
[7:45] You must be willing to take risks with tax liens
[8:43] A tax lien foreclosure state or a tax deed foreclosure state: what’s the difference?
[13:38] Cashflow investing or buy and hold investing?
[15:37] Understanding how to secure good property management
[18:54] Long-term tenants are common in Germany
[20:47] A stable land value in Germany, but high taxes
[23:00] Rent to value ratio – 1% per month
[26:15] Vacation rentals, how does Airbnb compare?
[31:08] Vacation rental management offers a social aspect as well as a monetary boom
[33:31] Contact information to reach Julia
[33:51] Real Estate Secrets that Can Make You Rich
Mentions:
Tweetables:
“A diversified income property portfolio protects you from the collapse of a single market.”
“For a single person, vacation rental management offers a social aspect as well as income.”
“Do you know the difference between a tax lien foreclosure state and a tax deed foreclosure state?”