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12 January 2025 | 11 replies
What's the lowest credit score you will allow?
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1 February 2025 | 21 replies
I am not familiar with Avail and whether a LL can view credit history.
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30 January 2025 | 6 replies
Given your credit score and ability to fund 25% of the purchase I don't foresee any obstacles you will face.
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3 February 2025 | 11 replies
(Available time, money, income, family situation, credit availability, time horizon, real estate market location and phase, medical situation, etc etc.)
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23 January 2025 | 5 replies
That’s correct, a foreigner can buy property through a Mexican corporation, which is a great option for those investing in multiple properties or running a rental business.Key Points I'd like to add to your post:Setup Costs: $1,500–$3,000 USD.Ongoing Costs: $1,000–$2,000 USD/year for accounting and tax filings.Benefits: Allows tax deductions for expenses like maintenance, repairs, and management.Best for: Multiple properties or income-generating investments.For a single property for personal use, a fideicomiso is often simpler and more cost-effective due to its lower maintenance requirements and feesUltimately, choosing between a corporation and a fideicomiso comes down to your investment strategy.
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6 February 2025 | 5 replies
$40,000 x 25%(assuming a 25% interest rate on credit cards) = $10,000This is more than the annual cash-flow that you are getting from the rental.I would look at a way to paying off the credit card debt asap.Look to see if you can take a HELOC on the investment property(likely difficult).If you can't you may want to consider selling the proprety.You will also feel a lot of relief of not having credit card debt hanging over you.What is the interest rate on the car loan?
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6 February 2025 | 4 replies
As such, I keep them in one account and just track any deductions with a spreadsheet for each tenant.
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29 January 2025 | 25 replies
Focusing on building knowledge, credit, and some capital is key.
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22 January 2025 | 5 replies
One of the key challenges I’m facing is understanding the financing options available to someone without Canadian residency or a local credit history.From my research, it seems that a 35% down payment is often required, with interest rates around 7.5-8.5% for non-residents.
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27 January 2025 | 33 replies
There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.