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17 December 2024 | 5 replies
My figures are below.TaxDeed Winning Bid: $489.00 (My Bid May 2013)Property Clean-up: $450.00 (mowing, trash removal)Taxes & Insurance: $80.00 (2013 & 2014)Sale Advertising: $130.00 (Signage, Newspaper Ads, etc)Filings & Legal Fees: $245.00 (Deed, Lien Releases, Sales Agreement Docs)Total Costs: $1395 (approx)Sold for: $3250.00 (August 2014)That is better than the 25% I would have received if the property was redeemed during the redemption period.
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17 December 2024 | 11 replies
This structure simplifies management, centralizes ownership, and provides an extra layer of liability protection.Tax-wise, the state where each property is located will still require income tax reporting and LLC fees.
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16 December 2024 | 6 replies
I hope to net around $800k after fees and closing costs.
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16 December 2024 | 9 replies
It's why most large landlords use their own in-house tools/software they pay someone a one time fee to setup for them and then hand off.
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13 December 2024 | 7 replies
If the rate is reasonable then it may make sense to try to save fast to get to the 3.5% down payment on a double or triple - househacking may allow you to increase your savings rate and pay down that loan even faster.As for estimating costs, closing in NY factor at least 1% of the mortgage amount for tax, plus $1500-2000 for lawyer, title and fees, then the amount required by the bank for escrow will depend on the actual property taxes and insurance.
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5 December 2024 | 1 reply
My question pertains to impact fees.
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12 December 2024 | 3 replies
@Erica ArceCould you have a written agreement directly with the wholesaler that outlines your fee for bringing a buyer to their deal?
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19 December 2024 | 24 replies
Those that cannot be sold and land that have a lot of tax and fees attached and unpaid are promoted on the website, Government Auction, for auction.
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15 December 2024 | 2 replies
Strategic Purchase: Acquired a discounted double lot below market value with a $17k impact fee credit.Custom Design: Built a 6-bed, 5-bath home tailored for co-living or multi-gen use, maximizing tenant appeal.Efficient Management: Managed construction, and self-managed operations to minimize costs.Premium Marketing: Furnished the property and used multiple platforms to attract quality tenants quickly, achieving full occupancy.What was the outcome?
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12 December 2024 | 12 replies
Ok to summarize it seems that there is Zero way to dodge CA annual fee.