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16 January 2025 | 12 replies
Hi everyone,I’m a new real estate investor, and over the past 8 months, I’ve immersed myself in learning about CRE.
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31 December 2024 | 66 replies
I am running 3 jobs right now , thats over $175K in expenses .
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16 January 2025 | 5 replies
We will have lots of renovations and additions to do over the years, so I'm worried that it will be hard to save up for more rental properties.Any suggestions?
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8 January 2025 | 1 reply
Hey BP family, I'm currently trying to help out a family in need from having to foreclose on there property by taking over subject to, it has a high interest rate although the entry is around 20k I want to wholesale this ultimately Is it possible for me, to disregard my initial assignment fee to get a buyer asap and add a 2nd lien on the property as my fee?
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17 January 2025 | 7 replies
You are taking over for someone who didn't care at all about the rules and you want the city to just be like, "yeah, this is fine"?
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15 January 2025 | 15 replies
Some banks required us to get full apprasial if loan was over a certain amount 500k. 5.
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11 January 2025 | 9 replies
I'm going to reiterate what's already been mentioned above, but I'm going to actually give you examples of why it's relevant to you to find a U.S. tax professional.1 - You're going to need to file U.S. taxes once you have property down here, there's federal filings, state filings, and sometimes local filings too2 - Tons of tax treaties between the U.S. and Canada that are easy to miss and can cost you a lot of money (important one with rentals - effectively connected income - if the professional you talk to doesn't know what this is, run away)3 - The amount of days you spend in the U.S. needs to be tracked and if you go over a threshold, all of your worldwide income could be taxable by the U.S.4 - Selling real property means up to 15% of your sales proceeds might not be available to you for years (FIRPTA)5 - Lots of nuance at the state and local levels, which both want to take as much money from you as possibleMain takeaway here is that you should find a U.S. based tax person.
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7 January 2025 | 7 replies
For me as well as the seller.First, you have to define Sub to financing.Do you mean the reckless kind where you overpay for a property, take over the financing and borrow from others to cover closing costs and holding costs when you have no money, no credit, no income, no reserves and can't tell a warranty deed from a deed of trust and you close on the kitchen counteror do you meanbuying below market value, already having a nice income, having reserves, using escrow and title, already understanding the due on sale clause, have done a lot of creative purchases and know when to use and when not to use creative finance and how to recover if something goes amiss?
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14 January 2025 | 8 replies
My spouse went to school at UT and the rental there is a hold over from graduate school.