Ryan Kovacs
Help with Co-Op to Condo Conversion and Lending
18 September 2021 | 1 reply
Problems arise because some owners don’t want to convert; because some owners can’t qualify for condo loans ( even if they own their co-op apartment free and clear they’d still be responsible for their pro rata share of the underlying cooperative mortgage), and because owners realize that when co-ops are converted to condos the taxing authorities will value the property differently; coops are valued as rental buildings while condos are valued as individual owned units, usually resulting in a 50-100% increase in property taxes.
Steven Gilbert
Partnership Agreement: Pro-Rata GP Equity for Capital Raising
16 November 2021 | 2 replies
There are three GP's, the capital partner, the operator, and the fundraiser... 30% equity stake in the GP is reserved for raising a total of $1M, it is pro-rata.
Derek Larson
Tracking Expenses with separate credit card for tax only
5 February 2020 | 8 replies
If I use a card for multiple rentals, I just pay pro-rata from each bank account and id the property for each payment within quicken.
Derek Shearin
Cap Rate NNN question
22 October 2020 | 10 replies
Typically, according to the lease, you are able to charge back expenses to the tenant, based on their pro-rata share of the property, in what is called TICAM (Taxes, Insurance, Common Area Maintenance).
James Smith
Backdoor Roth/Pro rata question
10 April 2020 | 3 replies
Hi everyone,I performed a backdoor roth for the first time a few weeks ago (for 2019). Unfortunately, after doing so I remembered that I have two IRA accounts that I had somewhat lost track of. One had only 1K but the...
Daniel Vineis
Can more then one lender have first position
10 May 2020 | 11 replies
Here they and share ownership of the loan based pro-rata on the amount they contribute.Fractionalized loans are legal in California, for example.
Rodney Byers
Question about past due taxes..
16 July 2014 | 3 replies
Agreed, and the owner will be responsible for their pro rata share of 2014 taxes, up until the day of closing.
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joint ownership with...gasp...friends
10 May 2007 | 4 replies
If you do, net rental income would pass through to each individual in LLC pro-rata for tax purposes.
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Do I need a license to broker private/hard money loans?
26 November 2018 | 37 replies
It isn't a commission if the person is a pro rata partner in the deal.That is my understanding at least.
Nathan W.
Tax Implications of Crowdfunding
10 January 2015 | 21 replies
It ranges from 15% tax on profits in a year under $2,500, to 39.6% marginal tax on profits over $12,150.Also buy-and-hold projects that use debt on top of a equity (whether the project operator gets the debt from you or a bank) are likely to trigger UDFI - unrelated debt finance income tax - on a pro rata debt portion of the investment.