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14 November 2024 | 12 replies
I may be wrong in my understanding of the real estate code of ethics outlined in the Arizona state statutes, and everything else I've read regarding real estate transactions, but as far as I understand it the original agreement to sell is null and void due to the nondiscolure committed by the real estate agent/broker first in the fact that he signed the agreement to sell as the buyer, misrepresentating himself as the agent and stating he had a buyer/investor and Secondly because the agent involved should not sign in representation of the buyer but may only accompany the buyer to the signing (it was done through docusign, I signed first and then was notified that the buyer had signed and downloaded a copy, I didn't look at who the buyer was until just last night).
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15 November 2024 | 18 replies
I'm a property owner on BP and a W2 employee (nothing involved with real estate).
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11 November 2024 | 14 replies
A resolution might involve a refinance or buyout agreement to remove her from the mortgage, aligning ownership and liability.This post does not create a CPA-Client relationship.
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12 November 2024 | 1 reply
If not, even though you are a re pro, losses are passive & deductions are limited.There are 7 scenarios that will qualify as material, and you only need to meet one:*500 hours*Substantially all participation*> 100 hrs and at least 1/2*Significant participation*5/10 years*Personal service activity w participation in last 3 years*Continuous participationTo materially participate, you must be involved in the operations of the activity on a regular, continuous, and substantial basis.Once you pass the pro test, the material participation often comes along for the ride.You can elect to aggregate all rental real estate for purposes of measuring material participation under Sec. 1.469-9(g).Your time spent on all your rental properties (STRs don't qualify) counts as one activity, making it easier to materially participate.In order to make a strong case with your CPA and the IRS you need to document your hours.Best practice is an hours log where you are as specific as possible.
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12 November 2024 | 11 replies
Probably 90% of sub to / seller financed transactions involve purchase price ABOVE what an investor would pay having to obtain new institutional financing or paying cash.
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14 November 2024 | 15 replies
It's definitely more intimating and involved than a rental could be, but you may be able to make a lump sum of cash in 6 months or so that you could use towards other investments!
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12 November 2024 | 47 replies
It's critical to to get references and work with BB&B-accredited and fully insured companies when this amount of money is involved.
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11 November 2024 | 8 replies
When you're on a temporary visa, especially without a clear path to permanent residency, the risk involved can be substantial—both financially and legally.
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12 November 2024 | 6 replies
If your quote is that high it better involve a bigger SOW or other exterior repairs as well.
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14 November 2024 | 10 replies
Leverage magnifies return. 3) The effort involved in adding an ADU is comparable or larger than a rehab associated with a BRRRR.