
21 October 2024 | 15 replies
Without NNN so he transfers more wealth to you?
21 October 2024 | 5 replies
Some things to consider with the above suggestions of creating an LLC and contributing the property + $100,000.The basis the partnership has in the property is transferred from Person A.If person A's basis in the property is $100,000 but the value is now $200,000.The depreciation would be based on the $100,000 instead of $200,000 which may 'upset' partner B.Furthermore, you have to properly structure it so the IRS does not see it as a 'disguised sale'.A disuised sale can potentially occur when Partner B contributes $100,000 into the partnership and it is immediately transferred to Partner A.best of luck

22 October 2024 | 12 replies
Tax Court released Summary Opinion 2017-31 in May 2017, concluding that a county assessor’s allocation to land and improvement values was more reliable than the taxpayer’s proposed values.

22 October 2024 | 14 replies
It really doesn't always matter if the lender isn't local, as long as they're reliable, knowledgeable, and responsive to you.

30 October 2024 | 236 replies
That being said I will admit that covering transfer taxes both times can hurt your bottom line.

16 October 2024 | 5 replies
However, if the LLC is purchased, that purchase is NOT a recorded document, and hence more difficult for a lender to ascertain, as long as the warranty deed itself is not transferred and recorded.

20 October 2024 | 9 replies
The property will be available to view early next week (after the holiday weekend) for estimates for the job.If you know of any solid, reliable general contractors who work on rental investment properties . . . your recommendation would be greatly appreciated!

23 October 2024 | 22 replies
He posted a question, similar to yours, He said he had 180k in liquid cash and he was looking to buy some 8 unit property where his entire 180k in capital plus more for all the closing costs and interest reserve and transfer taxes and the whole nine it would be near 200k.

20 October 2024 | 13 replies
And I wanna separate business from personal so I wanna get the loan in my llc transfer title to my llc..

20 October 2024 | 3 replies
You also can transfer the home into your LLC right after closing.