All Forum Posts by: Courtney Duong

@Steve Morris I understand what you said above. But right now we are having 2 potential tenants who are both mom and pop (for the same unit) so they are about the same in term of credit worthiness that's why I only need to look/compare the rates for now. Thanks.

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Hi BP,

Anyone in commercial real estate having a lease comparison template/spreadsheet that you can share? Thanks.

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@George Blower

Thanks so much for the response. The company I worked for said they waived the 10% of the 20% so that's why I asked. Need to get back to them to confirm if only 10% or entire 20% is waived.

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@Bruce Lynn thanks for chiming in and shared your thought. It's like you read my mind! :) I have no intention of selling real estate full time full on as an agent. I just want to get a RE license to save on commission when we do our buying. We bought 6 houses so far this year, then leased them out (with the help of a realtor of course). We do self manage those, along with a shopping center so that keeps me busy enough for now. Still planning to buy more for sure next year. So that's why I am exploring the option of getting a RE license myself. If we consider expanding into DFW (if I am not wrong you are from that area) I will for sure connect with you. Thanks!

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@Wale Lawal thanks for the response.

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@Wale Lawal what are the expenses that come with a real estate agent's license? What is the average per month/year? Thanks.

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Originally posted by @George Blower:

@Blake Rumley

Keep in mind that in order to take a distribution under the CARES Act you must have been impacted by the virus in one of the enumerated ways & your current account provider must allow you to take a CARES Act distribution. The IRS recently provided guidance regarding eligibility under the CARES Act and specified that a qualified individual includes an individual who has a reduction in pay (or self-employment income) due to COVID-19.

Distributions:

If so, you can take a penalty-free distribution (as well as waive the 20% withholding requirement) from your 401k (assuming that the employer allows it) anytime between 1/1/2020 and 12/31/2020. You may avoid the taxes if you deposit the funds in an eligible retirement plan (which includes anIRA) within "3 years and a day" of the date of the COVID-19 distribution (note: compare to a 60-day rollover). Please note that the account into which the funds are deposited must be the same type of account from which the funds were first withdrawn (e.g. withdrawal of pre-tax funds from a 401k could be deposited in a pre-tax IRA but not a Roth IRA - "like to like").

@George Blower

So Federal withholding is 20% flat? Or that is 20% default, then it varies from person to person?

Thanks.

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@Owen Dashner thanks so much for the explanation. I really appreciate it. I am going to an open house this afternoon. The house got listed just 2 days ago and I have a feeling it will receive multiple offers today. I do want to get it, up to a certain price of course. So knowing this escalation clause helps me tremendously because I am thinking of using it for this offer.

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All Forum Posts by: Courtney Duong

Courtney Duong has started 24 posts and replied 319 times.

Post: lease comparison spreadsheet for CRE

Post: To be or not to be.. A realtor

Post: lease comparison spreadsheet for CRE

Post: lease comparison spreadsheet for CRE

Post: CARES Act 401k distribution to fund REI?

Post: To be or not to be.. A realtor

Post: To be or not to be.. A realtor

Post: To be or not to be.. A realtor

Post: CARES Act 401k distribution to fund REI?

Post: Escalation Clause Craziness