BiggerPockets Daily BiggerPockets

Get ready for the ultimate real estate adventure as the BiggerPockets Conference (BPCON) 2024 heads to the tropical paradise of Cancun, Mexico, Oct. 6-8. International travel is always exciting, but knowing it can also be tax-deductible really takes things up a notch. 
Traveling outside the United States for business can be a little tricky when it comes to taxes, but don’t worry—we’re here to guide you through everything you need to know.
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The biggest hindrance to building a real estate portfolio that allows you to leave your job and become financially free is getting past the hurdle of covering your living expenses. Decreasing your costs by living overseas could be the most logical way to build a real estate portfolio in the U.S. quickly.
Why the Cost of Living in the U.S. Makes Saving So Difficult
According to the Bureau of Labor Statistics’ Consumer Expenditure Survey, the average household earned $94,003 in 2022 before taxes and spent $72,967 (just over $6,000/month) on total expenses. Of that number, $24,298 accounted for accommodation, which amounted to around $2,000/month on rent or a mortgage.
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My first investment property was a C/D-class multifamily in Houston. I selected it primarily based on perceived cash flow. 
According to my calculations, the return on investment (ROI) was between 12% and 14%. And with a multifamily, even if one unit is vacant, I still have cash coming in. How could I lose?
And then I got hit in the face (wallet) with reality:
It was an older building, and maintenance was continual and expensive. Plus, the tenants and others almost continuously vandalized the property.
Rent delinquencies and evictions were frequent, and the process was lengthy and expensive. And I was left with a damaged property that needed hundreds or thousands in repairs before it could be rented again.
I ended up losing thousands of dollars each year despite doing almost all repairs and maintenance myself. This was completely different from the calculated 12% to 14% ROI.

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Owner financing offers buyers and sellers more opportunities with real estate transactions. 
Before entering this type of transaction, it’s important to know what owner financing is, how it works, who benefits, and who pays property taxes on owner financing.
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It’s common to have questions about your property taxes, but one is more important than all the others combined: Why did my property taxes increase?
There’s no individual answer to this question, as it can depend on a variety of factors. 
Here are 19 frequently asked questions (FAQs) to help you understand property taxes as a whole, and with that, determine why your taxes have increased.
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Working for a company is the most common way people in the United States earn their living. As an employee, your earnings are reported on IRS Form W-2, and federal, state, Medicare, and Social Security taxes are withheld every time you are paid.
Although there are benefits to being an employee—like simplified tax preparation—you may pay more in taxes than self-employed individuals or business owners because you can’t claim certain deductions. That doesn’t mean you don’t have options, however. You may be able to supplement your income, grow your net worth, and reduce your tax obligation by investing in real estate.
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