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5 July 2024 | 1 reply
Can I transfer the information of a property from the Brrrr calculator to the rental calculator?
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8 July 2024 | 21 replies
The entitlement would stay with the vet and not transfer over.
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5 July 2024 | 8 replies
The agent warned that the purchase price is much lower than the estimated value of the home, so the county may not allow this type of title transfer.
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5 July 2024 | 2 replies
If you have a loan, you may wish to look into due-on-transfer clauses.
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5 July 2024 | 0 replies
I'm also mildy curious about the "Great Wealth Transfer" and could see myself buying a business at some point.
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4 July 2024 | 7 replies
This general log gives an overview of your activities, but it might not be detailed enough for IRS purposes.Example 2: Detailed LogMonday, 7/1/247 AM - 7:30 AM: Monitored security cameras1:30 PM - 2:15 PM: Responded to tenant question regarding parking3:00 PM - 3:30 PM: Monitored security cameras4 PM - 4:15 PM: Checked mail and delivered to tenants, as necessary7 PM - 7:30 PM: Monitored security cameras10:30 PM - 11 PM: Monitored security cameras7 AM - 11 PM: Remained on standby all day for tenant needs/emergenciesThis detailed log breaks down your activities into specific time slots, which can provide a more precise account of how your time was spent.Best Practices for Record-KeepingBe Specific: Break down your activities into smaller time intervals, as shown in the detailed log example.Use a Logbook or App: Consider using a time-tracking app or a dedicated logbook to keep daily records.Document Standby Time: Clearly note the hours you are on standby for emergencies, but also separate it from active tasks.Include All Activities: Document everything from advertising to maintenance and tenant interactions.Consulting with a Tax ProfessionalGiven the complexity of qualifying for REPS, it's always a good idea to consult with a tax professional.
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4 July 2024 | 3 replies
If the trust mentions the real property, but you never actually transferred ownership of it into the trust, likely the trust terms don't govern it yet.
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4 July 2024 | 14 replies
@Scott Smith could I have a Texas series LLC take ownership of a Florida LLC that has Florida property in it and provide the same protection or would have to have the property transferred in a Texas series LLC ?
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5 July 2024 | 5 replies
I'm not an attorney so please consult one in your state to make your decisions.You could propose they master lease the property as a trial period BEFORE you agree to purchase terms which would transfer title.
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4 July 2024 | 12 replies
If the previous owner does not transfer the policy to you, I don't believe they are liable for your home.