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9 February 2025 | 7 replies
Hey @Tom E. so forget any cameras inside with guest present.
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7 February 2025 | 6 replies
@Eric SmithGenerally, if the taxpayer sells the relinquished property to an unrelated party, the taxpayer generally cannot acquire replacement property from a related party unless:The related party is also participating in a 1031 exchange.The related party pays more in tax on the sale to the taxpayer than the taxpayer is deferring in the exchange (this scenario is rare).Let’s look who is considered a related party: Spouse, children, grandchildren, parents, and siblings.Corporations and shareholders owning more than 50%.Commonly controlled corporations.Partnerships and partners with more than 50% interest.Trustees, grantors, and trust beneficiaries.Non-Related Parties:In-laws.Aunts, uncles, nephews, nieces.Friends.Domestic partners.Entities owned 50% or less by the taxpayer or a related party.In your case, your mother-in-law, aunts, and cousins are not considered related parties to you under the definitions in Sections 267(b) and 1031(f).
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21 February 2025 | 5 replies
Spokane’s tenant-friendly laws could present challenges, but its lower home prices compared to other markets might provide more affordable entry points.
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4 February 2025 | 10 replies
The BRRRR strategy, which stands for Buy, Rehab, Rent, Refinance, Repeat, focuses on long-term investment, while the Fix & Flip approach involves purchasing, renovating, and selling properties for a profit.Investing in Airbnb rentals presents a distinct set of challenges, requiring active management and a thorough understanding of local regulations, but it also has the potential for higher returns.Here is a concise overview of the advantages and disadvantages of each method:Fix & Flip:Pros.- Potential for quick profits - Enhances property value - - Adaptable to market trendsCons.- High risk - Time-intensive - Requires substantial capitalBRRRR:Pros.- Builds long-term wealth - Generates rental income - Increases equityCons.- Complex process - Requires financing - Dependent on market conditionsAirbnb:Pros.- Potential for higher returns - Flexible pricing - Short-term commitmentCons.- Requires active management - Subject to regulatory risks - Income can vary seasonallyI wish you the best in your new venture.
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20 February 2025 | 7 replies
With all the new development around the stadiums, it can be very lucrative and presents room for growth as the area continues to develop.
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24 January 2025 | 16 replies
However, if the 401k has business income, it will be subject to UBIT.An IRA is not subject to capital gain taxes because it is a tax-deferred retirement plan.
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21 February 2025 | 26 replies
You would be looking at the bottom section step 2b: https://content.enactmi.com/documents/calculators/Form1038.C...You dont add the total new debt, and total new gross income(understood its after 75%, I was presenting my numbers after accounting for that)??...
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9 February 2025 | 4 replies
My wife and I need a bigger home and we have an opportunity that presented itself.
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4 February 2025 | 3 replies
could be just like a regular deal, but if you're up for pitching, presenting and educating a seller on the tax and other advantages of seller financing, you just might turn it into a seller finance deal.
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19 February 2025 | 2 replies
Ending conservatorship presents an opportunity to improve market liquidity, access to mortgage credit and, perhaps most importantly, boost home and apartment construction.Investor Bill Ackman has a fantastic in-depth presentation on why we should end the conservatorship, which is a must-watch.