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22 August 2024 | 7 replies
When purchasing your mother-in-law's house through seller financing, since the property qualifies as her primary residence, she should be able to exclude up to $250,000 of gains ($500,000 if married) from taxable income, so capital gains taxes are unlikely to be an issue given the sale price is below the tax basis.2.
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20 August 2024 | 8 replies
Closing in another 135 days should never be an issue, especially if you picked your property and did your inspection before the 45 days expired.
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22 August 2024 | 16 replies
Agreed, the "Syndication", "Private Equity Real Estate" or "DST" model are all variations of the same theme: - Pay money to sponsor who is supposed to be an expert investor.- Give them complete control over your money in the context of the deal or fund. - Wait and hope that they deliver returns.
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22 August 2024 | 10 replies
@Eric SatoHey Eric, doing that high of a down payment should not be an issue for getting a conventional loan for DTI purposes.
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21 August 2024 | 7 replies
I just learned this might be an issue due to related party.
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20 August 2024 | 15 replies
Do it yourself, learn as much as you can, seek out a grey hair mentor who will advise you for a cup of coffee.
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21 August 2024 | 18 replies
@David ChanceI live in downtown Frederick and invest here too, with rental licensing that just pass in going to be even harder.Lets catch up or have a coffee
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20 August 2024 | 2 replies
This can be an extremely time-consuming and frustrating process but needs to get done.Borrower Calls – Once the servicer finds your borrower, they’ll make scheduled collection calls notating what transpired and what actions need to be taken.Collection Letters – A variety of collection letters are mailed out based on the delinquency of the borrower.Borrower Statements – Print and mail out monthly borrower statements.Incoming Funds from Borrowers– Any incoming funds from the borrowers will be received, recorded, and distributed to the investor, less the servicer’s fees.Year-End Tax Information – At the end of the year, the servicing company will print out all eligible borrowers who have made interest payments greater than $600.
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20 August 2024 | 11 replies
I see your next availability is mid August, so I would expect to see more inquiries in the next 2 weeks.The low amount of direct inquiries from Furnished Finder is normal as well, from our experience with 25 properties.I don't recommend the discount for first 3 bookings if you're doing MTR, that can easily be an entire year of bookings discounted!
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20 August 2024 | 4 replies
This could be an opportunity to step in and optimize the property.