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I know someone in real estate who is advised by his wealth advisor to set up an apartment building that gives lower rents to wounded veterans in his small town.
by readthenotes1 2y ago
I know someone in real estate who is advised by his wealth advisor to set up an apartment building that gives lower rents to wounded veterans in his small town.
That way it would be non-profit and he wouldn't have to pay property taxes and the one or two wounded veterans might get a good place to stay but he would be making bank with the other tenants
- bombcar 2y agoAs a note these kinds of things the IRS figures out ... eventually, and then they have you. The realities of real estate investment involves a ton of things, but there is probably some advantage to renting to veterans, it's not to the point of writing off the entire income from an entire building.
- readthenotes1 2y agoNot paying property taxes or sales taxes on any of the construction materials is a huge advantage.