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5 December 2024 | 4 replies
Check with the plan administrator and use that verbiage. 2. 59.5 is when you can take distributions without penalty.
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16 December 2024 | 6 replies
Consult a tax advisor to optimize the use of passive losses and explore potential benefits from selling stocks.This post does not create a CPA-Client relationship.
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19 December 2024 | 8 replies
I use Stessa for accounting, I love it, it links right to my bank account/credit card accounts and I can assign purchases to different properties and units of the property for multi-unit properties and at the end of the year I have a simple report to give my tax professional
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4 December 2024 | 0 replies
Real estate investors often find themselves working with many providers between insurance, financing, property management, tax preparation and strategies, etc.
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18 December 2024 | 2 replies
This was a few years ago, but at that time as I recall they were looking to do more long-term property leases over owning properties and doing pretty landlord friendly leases where they would do repairs and even pay property taxes.
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22 December 2024 | 8 replies
Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.
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16 December 2024 | 3 replies
Quote from @Daryn Gardner: I recently purchased a tax deed property.
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16 December 2024 | 11 replies
Great tenant but property tax increases have reduced my cash flow.
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19 December 2024 | 6 replies
If you need financial help, ask under the "Finance, Tax, and Legal" forum.
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16 December 2024 | 4 replies
I purchased the property at a tax auction.