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17 January 2025 | 6 replies
The 1031 exchange rule to defer your tax is two part 1) reinvest all your proceeds and 2) purchase a property (or properties / DSTs/TICs) with an equal or greater market value.
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30 January 2025 | 3 replies
In that case, you’re living for $2,000 a month—while building equity in the home, benefiting from potential appreciation, and taking advantage of valuable tax write-offs!
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29 January 2025 | 6 replies
3) Your $250k with 30% down => about $750k (you also need funds for closing costs, taxes, etc.)
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16 January 2025 | 6 replies
One caution when using crypto to acquire property is being aware the tax ramifications are identical to if you converted to cash first.
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22 January 2025 | 1 reply
This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.While the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall loss.
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2 January 2025 | 14 replies
Your best advice would come, for a Tax Advisor NOT a Tax Preparer (CPA).
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17 January 2025 | 6 replies
Keep in mind that you get to depreciate these appliances on your taxes.
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29 January 2025 | 107 replies
If you make it to Memphis, we invest pretty heavily in the youth club game down here and our non-profit, Cancer Kickers Soccer Club, is the first non-profit to be on the jersey of a professional soccer team, 901 FC of the USL.
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21 January 2025 | 19 replies
@Chris SeveneyI agree it is not the most professional website I have seen.
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3 February 2025 | 15 replies
Since part of your property is a rental, I believe a portion of your mortgage interest should be a tax deduction unlike your other debt.