10 March 2018 | 1 reply
I've checked county tax records and this second building is included in the record, so I'm assuming it's legitimate.
9 March 2018 | 4 replies
And that doesn't even include the $25K of the mortgage paid down in that time.
10 March 2018 | 11 replies
(financial things)..to include but not limited to any new leases or modification of existing leases together with rent rolls, with respect to borrower financial conditionThanks for your time
14 March 2018 | 7 replies
Two of the safe harbors that can help you deduct improvements are below:1) 2500 de minimis safe harbor.the safe harbor applies to amounts paid during the tax year to acquire or produce what the regs call a “unit of property” (UOP), you must meet these requirements: (1)you need to have written accounting procedures treating as an expense for non-tax purposes amounts paid for property costing less than a specified dollar amount (which will be 2500 for you), or with an economic useful life of 12 months or less;.(2) the taxpayer treats the amount paid for the property as an expense on its books and records in accordance with its accounting procedures. ( do this on your bookkeeping software or whatever you utilize)(3) the amount paid for the UOP doesn't exceed $2,500. as substantiated by the invoiceNote: The cost for the Unit of Property includes l additional costs (for example, delivery fees, installation services, or similar costs) if these additional costs are included on the same invoice with the property.2) Small taxpayer safe harbor: To be eligible for the safe harbor, the total amount of improvements for the property for the tax year may not exceed the lesser of $10,000 or2% of the property's unadjusted basis.If the total amount paid exceeds the safe harbor threshold, the safe harbor does not apply to any amounts spent during the tax year.
9 March 2018 | 13 replies
Lots of people have done it (including myself).
7 April 2018 | 2 replies
We recommend you to collect 1 year's pre-paid insurance, 2 month taxes & ins reserves, and include the monthly servicing fee in the monthly payment amount.Also, if your buyer speaks another language, it is also important that they sign a translation letter of the documents provided.I am an owner finance specialist and I am here to help answer any additonal seller finance questions you may have.
26 September 2019 | 4 replies
I know plenty of brokers that are killing it, but running a brokerage is a different ball game than just being an agent.As a caveat - "full time" for me is about 70 hrs / week, which includes about 30 hrs of "commuting" (which usually involves dirtbike or harley trips).
9 March 2018 | 2 replies
Hello all, I am making my first home purchase (a bit of a fixer upper) and would like to include a clause in the escrow agreement that allows me to back out (while recovering my earnest money) if the inspection finds any major (as in, cuts the projected home value in half and makes the deal non-viable to me) problems.
10 March 2018 | 2 replies
Most VA investing includes the concept of financing OUT of the VA loan so that you can buy the next at 0%.
9 March 2018 | 3 replies
You might be hitting a wall for a # of reasons including the fact that your market is hot (i.e. more sellers than buyers).