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29 January 2025 | 107 replies
At the same time, someone else reduces your debt, and you get to use the tax code to improve your tax situation legally.
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23 January 2025 | 15 replies
I'll save you the details but...Per door cost: $63,300All in Cost: 700kTotal Revenue: 137k(ish) annuallyNOI: 65-73% (in the expenses we included: insurance, taxes, $75/month per door repair expense, management fee 8%, grass cutting, & a misc fund for random crap business license, etc.)Now...
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16 January 2025 | 6 replies
Don’t want to pay taxes on the capital gain.
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15 January 2025 | 11 replies
You can use it as a downpayment on a property over $450k and use leverage tax free.
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31 January 2025 | 22 replies
I was just reading Mark's book "The Tax & Legal Playbook" this morning and it specifically had a "critical warning" (page 31&32 in Chapter 3).
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17 January 2025 | 22 replies
Did you vet contractors in-person prior to hiring them to work on your projects?
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24 January 2025 | 7 replies
My biggest conundrum now is I want to be my own GC because even when I play with smaller numbers they’re still out of reach for me to be able to attain this goal and afford the monthly mortgage with taxes and insurance.
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14 January 2025 | 5 replies
Hi Kin,Transferring your share of the property to your brother may have tax implications, including gift tax if the transfer is considered a gift.
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14 January 2025 | 18 replies
During escrow converted it to a Roth and paid the taxes.
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22 January 2025 | 0 replies
Here are some key elements to include:Lease Agreements: Ensure your contracts reflect the latest laws, such as notice periods for entry or rules around security deposits.Fair Housing Compliance: Familiarize yourself with federal, state, and local fair housing laws to avoid discriminatory practices.Property Standards: Regularly inspect your properties to ensure they meet safety and habitability standards.Tax Documentation: Keep accurate records to comply with tax reporting requirements.4.