All Forum Posts by: Ralph Taylor

Hi Gwendolyn,

Welcome aboard.

Ralph Taylor

What do you have in Alabama? I am a broker and also buy for my own account.

Did you ask your attorney?. If not, why not?

Your partnership return must disclose who the partners are, together with their tax id. Don't play games with the IRS. The last thing you want is the tax man on your tail.

Ralph Taylor

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This is more or less organizational. It will probably be a monthly meeting.

There is a Tuscaloosa group meeting 6/14 at 6pm at Mellow Mushroom. Stop by if you get a chance.

Your seller doesn't sound very motivated to me. Why is he selling?

Nick, 

What are the numbers on this property?

I'm not familiar with Huntsville, but you should be aware that real estate taxes in Alabama are calculated using an assessment rate of 20% of the appraised value for investment properties, vs 10% of the appraised value for owner occupied residential properties. All this is to say that you should expect to pay twice what the former owners were paying if they were occupying the house.

Try Steve McTyeire at New Location Realty. Steve, in addition having the fastest growing management company in Birmingham, teaches at the Avery Yarbrough Real Estate school.

The website is NewLocationRealty.com