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Results (10,000+)
Nallely Trejo REI Friendly CPA Recommendation in Austin, TX?
26 June 2024 | 5 replies
You want an accountant who can help you strategize and who is responsive when you want to know the tax consequences of the decisions you are making throughout the year.Good luck.
Dean Valadez Paying mortgage on a former personal residence turned rental under an LLC
26 June 2024 | 2 replies
Option 1:Pros:Simplicity: You avoid the potential complications of alerting the lender.Maintains Low-Interest Rate: Since your loan is at 3%, you continue benefiting from this favorable rate.Avoids Immediate Full Payment: You won’t be forced to come up with $45k immediately.Cons:Risk of Detection: If the lender identifies the payments coming from an LLC, they might call the loan due.Potential Consequences: If the lender enforces the due on sale clause, you might be forced to pay the remaining loan balance quickly.Option 2:Pros:Transparency: Being upfront might build trust with the lender.Possible Flexibility: Given your solid payment history, the lender might agree to the arrangement.Legal Compliance: You avoid any potential issues with violating the terms of your mortgage agreement.Cons:Risk of Loan Acceleration: The lender could still decide to call the loan due, forcing you to pay the remaining balance.Potential for Higher Payments: If forced to refinance, you might end up with a higher interest rate.Given the pros and cons of each option, but a cautious approach might be best:Consult a Real Estate Attorney: This can give you a clear understanding of your legal standing and potential risks.Evaluate the Importance of the 3% Rate: Weigh the benefits of keeping your low-interest rate against the risks of potentially having to pay off the loan early.Consider a Gradual Transition: This method allows you to continue benefiting from the low-interest rate while reducing the risk of triggering the due on sale clause.
Frank Greg GC: Average Total Labor Cost on New Build
27 June 2024 | 62 replies
Most GCs are also not known for having a reputation or any particular incentive to control cost.
Tel Cyg Looking for a DSCR loan provider
27 June 2024 | 8 replies
https://www.biggerpockets.com/forums/49/topics/1093867-dscr-...There are quite a few here on this form so I am sure you can get someone reputed very easily
Phillip Dixon Advice on Trust/LLC Banking, etc!
26 June 2024 | 3 replies
You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.Good luck.
Jonathan Greene 5 Tips To Create A Real Wholesaling Business And Not a Chop Shop
2 July 2024 | 108 replies
The rest: hiring for acquisitions and dispositions roles, finding qualified and legitimate buyers, building a network in each market (inspectors, realtors, etc), having robust operations and processes in place, all while conducting an honest, reputable business with homeowners is very hard.
Ahmad Moore Cash Out Refinance
26 June 2024 | 45 replies
(Mobile, Al) The two banks I tried to see what the numbers would be regarding a cash-out refinance, they only do 75% of the purchase price + construction cost and not 75% of appraised value that I’m used to.I did try a DSCR refi, and after several paperwork being submitted, credit score ran, appraisal bought, only to have my numbers change before signing the docs for closing-so that was a dud.My question, who do you know that’s a reputable Union or bank that’s doing at least 75% of appraised value?
Amy Denzler Tired of Shenanigans. . .seeking a network in Cincinnati
26 June 2024 | 11 replies
Faster is not always a consequence of laziness.I'd say see what you can do with the current manager before you jump from the frying pan into the fire.
Derek Bleam Questions about starting an LLC
26 June 2024 | 18 replies
So now to add to that, I’m not sure how the taxes are going to work by having the LLC’s in 2 different states, I’m ultimately nervous now about consequences from tax implications and not filing taxes properly come time to do so. 
Ria Lamb Putting a 1031 exchange property into an LLC (3 years later)
28 June 2024 | 41 replies
At this point you should be fine contributing the property into a new LLC without tax consequences.