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23 January 2025 | 52 replies
At the same time I find myself participating in other forums I used to ignore, like the taxes and short term rentals forums, because those have become bigger focus areas (and pain points!)
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16 January 2025 | 2 replies
How should I phrase my interest in the property to avoid coming across as pushy or insensitive?
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19 January 2025 | 6 replies
However , properties taxes are due like roughly 12k for the two lots.
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21 January 2025 | 59 replies
Plus with no state income tax, cheap insurance, and very low property taxes, I’m probably starting $20k ahead of most people, and that’s a tax free $20k.).
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29 January 2025 | 23 replies
Another downside is you loose on the advantages, of the Federal Tax Code, by not closing in the name of a LLC (you can elect to have a LLC taxed, as a S Corporation which is a whole other conversation).If you want to close in the name of a LLC, Mortgage Lenders will offer you Commercial Loan Terms (25-30% down, a 15-25 year amortization, and a ballon due in 5-7 years).
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27 January 2025 | 10 replies
In California there is $800 franchise tax per LLC per year, which discourages a lot of RE investors from getting an LLC.
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24 January 2025 | 3 replies
You payment is $2,600 plus tax and insurance.
19 January 2025 | 1 reply
Type Line Item Fee Fixed Fee Collected Rents 10% of All Collected Rents New Tenant Search & Onboarding $600 Variable Fees Business Hour Service Calls $90/hour + Materials Cost + Tax After Hour Service Calls $120/hour + Materials Cost + Tax 3rd Party Coordination HVAC Cleaning & InspectionGutter CleaningSpring/Fall Exterior CleanupSeasonal Mowing & Weed TrimmingSeasonal Snow PlowingGeneral Contractor Negotiated Vendor Cost + 10% Oversight Fee
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21 January 2025 | 6 replies
You and your legal, tax and financial advisors should review this transaction in greater detail, especially the PLRs, to ensure you understand the significant risks involved and are structuring the transaction as close as possible to the PLRs to mitigate some of the risks.
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20 January 2025 | 14 replies
Quote from @Erick Pena: A "good" rental property is one that covers all expenses (mortgage, taxes, insurance, maintenance, property management fees, and any other costs) and still leave a surplus (commonly referred to as cash flow).Calculate cash flow as: Cash Flow = Rental Income − Operating Expenses − DebtThere's much more to it, but that's the basic idea.