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9 October 2024 | 21 replies
As such I am able, over time, to generate a higher ROI, but with some absorption of losses along the way.
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4 October 2024 | 6 replies
It's very misleading..I would suggest that no one should believe the claims of the programs they have..I am however devastated by my loss and was hoping for some kind of pay I worked hard to find almost $100k in surpluses and now I'm finding out I most likely will never see a payout..I have been struggling for a year trying to hang in until I got paid from them..just want people to know it's not what they claim
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5 October 2024 | 7 replies
@Landon Lehmann many investors borrow against their primary residence equity to invest.Getting a HELOC can also be the path of least resistance and cheapest.There is risk though, that if you investment results in a loss or lawsuit that you could lose some or all of that money and more (lawsuit).Getting more insurance is typically easier than setting up an LLC and meeting all the requirements to separate your business from your personal assets.What are you doing to source potential flip properties?
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4 October 2024 | 0 replies
Taxes - document your losses (actual cash out, lost rental income etc).
4 October 2024 | 7 replies
Obviously there won't be any 100% "safe" tenants, no matter how much vetting you do, a job loss etc. could always happen to anybody... but I feel like having one at all simply shows that they didn't prioritize keeping a roof over their head for one reason or another, among other issues.Everything else from that post, if I am referencing the same one, seems fine to me.
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7 October 2024 | 35 replies
Owners are risking financial loss, lawsuits from neighbors and serious fines if they live in HOA's.My neighbor rented his beautiful townhouse in the Los Angeles area using this company.
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30 September 2024 | 11 replies
-One of the cheaper options I have found is TaxAct Business ($140 + states), and TurboTax Small Business ($739 + states).The issue I am potentially running into, and I am not sure if the online software's mentioned above can handle (they won't tell me unless I pay for advice), is figuring out how to make sure the losses/initial capital contributions are reflected on my K-1 and not my business partner, since I made 100% of the contribution.
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3 October 2024 | 7 replies
But I am also having a lot of booked guests concerned about their upcoming stays because of the two storms currently brewing.I've thought of self-insuring but I've been able to find policies with good coverage that also cover the loss of income.
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4 October 2024 | 35 replies
I listed it for sale, I need to cut my losses.
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4 October 2024 | 8 replies
If your expenses associated with the rented portion exceed the income, you may have a tax benefit if you are eligible to deduct passive rental losses from your other sources of income.