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12 September 2024 | 13 replies
Honestly if you want to invest, you are better off having a 9-5 that will give you a good, regular income and allow you to buy rentals.
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13 September 2024 | 16 replies
When it comes to renting to Section 8 (S8) tenants, there are definitely pros and cons to consider:Pros of S8 Tenants:Guaranteed Rent: The government will pay a portion (sometimes all) of the rent, so you'll have consistent cash flow.High Demand: There's often a waiting list for S8 housing, meaning less vacancy time.Cons:Property Inspections: Your property will need to pass regular inspections, and repairs/maintenance must meet specific standards.Tenant Screening: Just like with non-S8 tenants, tenant quality can vary, so thorough screening is still essential.As for the down payment, yes, most lenders will require 15-25% down for investment properties.
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10 September 2024 | 0 replies
Instead, just make it a habit to show up regularly and deliver amazing content.
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12 September 2024 | 8 replies
Due to the nature of the possible time and repair costs this may lead to speak with an attorney that can advise you on law suit.
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16 September 2024 | 43 replies
It's only natural because the market took off like a rocket, and people became "rich" with equity.
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14 September 2024 | 12 replies
A local condo that you can easily check on might be a good way to learn the ropes of being a landlord without adding the complexity of long-distance management.Out-of-state investing, especially in areas prone to natural disasters like hurricanes, comes with additional risks.
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13 September 2024 | 61 replies
Of course we'll have to go through municipality zoning processes, but that's the nature of what we do.
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11 September 2024 | 18 replies
It was not a newly constructed fence to increase the value of the property; rather, it was a replacement for an old, damaged fence due to nature disaster.
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13 September 2024 | 10 replies
A 1031 exchange costs very little as it fits into your regular closing costs.
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12 September 2024 | 5 replies
Start-up costs are also deductible but are amortized over 15 years with a limit of 5k.Start-up costs have strict rules and your case might not be the same as this one.Case Summary:Timeline line of eventsStarted investigating property: FebPut first contract (canceled): MayBought first property: December 30thWhether a taxpayer is engaged in a trade or business is determined using a facts and circumstances test under which courts have focused on the following three factors that indicate the existence of a trade or business:Whether the taxpayer undertook the activity intending to earn a profit;Whether the taxpayer is regularly and actively involved in the activity; andWhether the taxpayer's activity has actually commenced.On the basis investor testimony, we may assume that he undertook this activity to make a profit and that he regularly and actively engaged in it.