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26 January 2025 | 21 replies
It is a matter of how bottom-line-oriented they are and knowing how to file insurance claims.
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17 January 2025 | 3 replies
The title company will handle clearing the title but won’t manage personal agreements.
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20 January 2025 | 5 replies
In theory, you could QT the property to an LLC in your name and enter into a lease with you personally.
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4 February 2025 | 2 replies
If Jorje works the same way North Carolina does, go to the register of deeds and learn how to look up substitute trustee filings.
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25 January 2025 | 14 replies
If you aren't already aware what happens after the 1031 exchange, you may have to file tax returns every year for Oregon AND Portland every year after you sell.
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1 February 2025 | 1 reply
You have to complete Schedule E if you have rentals.You should check if the turbo tax premier version allows the filing of Schedule E.With that said, using a software like Turbo Tax will assume you to understand what is deductible.If you work with a tax professional, you are more likely to have an accurate return.
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17 January 2025 | 3 replies
Personal guarantees are EXTREMELY common.
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22 January 2025 | 12 replies
I personally think being a landlord in Chicago is easy and I have never had an eviction.
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22 January 2025 | 12 replies
We make people take photos of themselves holding their ID and then I also meet them in person for the showing - at least for my units on the NW side of Chicago.I've never heard of these testers, but I am not surprised.
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11 January 2025 | 9 replies
I'm going to reiterate what's already been mentioned above, but I'm going to actually give you examples of why it's relevant to you to find a U.S. tax professional.1 - You're going to need to file U.S. taxes once you have property down here, there's federal filings, state filings, and sometimes local filings too2 - Tons of tax treaties between the U.S. and Canada that are easy to miss and can cost you a lot of money (important one with rentals - effectively connected income - if the professional you talk to doesn't know what this is, run away)3 - The amount of days you spend in the U.S. needs to be tracked and if you go over a threshold, all of your worldwide income could be taxable by the U.S.4 - Selling real property means up to 15% of your sales proceeds might not be available to you for years (FIRPTA)5 - Lots of nuance at the state and local levels, which both want to take as much money from you as possibleMain takeaway here is that you should find a U.S. based tax person.