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4 September 2024 | 1 reply
We are purchasing 1.39 acres of land and plan to utilize a workforce housing ordinance through the county to reduce the required lot size to fit more houses onto the land.
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31 August 2024 | 9 replies
I would like the system set up where the tenant pays for the utilities.
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3 September 2024 | 10 replies
I would also suggest that you offload utilities to the tenants.
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4 September 2024 | 1 reply
It was removed about a year ago to avoid duplication with the newish "Find a Lender" tool - you would be required to utilize that or go to the Classifieds Forum and post the needed scenario and have lenders be able to come to you directly
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5 September 2024 | 8 replies
Mainly raw land with utilities already on site, or properties that have been vacant for 10+ years, that would be a 50/50 on demo or rehab.The other fun fact that I learned at the sale: the tax foreclosure only wipes out the tax included in the judgement years.
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5 September 2024 | 16 replies
You can still self-manage from distance and utilize help when needed for the local tasks.
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3 September 2024 | 0 replies
There are specific rules for 1031 exchanges including:The replacement property must be identified within 45 days of transferring the relinquished property.The replacement property must be received within 180 days after the transfer of the relinquished property or the due date of the taxpayer's tax return, whichever is earlier.Special rules apply for exchanges between related parties (defined in § 267(b) or 707(b)(1)).Real property located in the United States and real property located outside the United States are not considered property of like kind.Cost Segregation StudiesA Cost Segregation study is an IRS approved federal income tax tool that increases near term cash flow by utilizing shorter recovery periods for depreciation to accelerate return on investment.
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4 September 2024 | 6 replies
I utilize professional Autocad software.
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6 September 2024 | 14 replies
Example for multifamily- My 4plex had a tenant in one unit paying $24000 annually of which I achieved $14,000 annually NOI after taxes, insurance, yard work, common area utilities.
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3 September 2024 | 1 reply
Purchase price: $163,400 Cash invested: $25,000 Sale price: $240,000A buy&flip project on a Single Family House10K - Flooring, Trims and baseboards8K - Interior Painting3k - Updated water heater, and gas permit2k - Other minor fix, ceiling fan, windows, light bulb, new fridge, and more2k - Holding cost, HOA, and other related utility feesTotal cost of repair - $25k