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21 November 2017 | 2 replies
Our current mortgage is $1,151/month, with an outstanding principal balance of $116,536.
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24 November 2017 | 6 replies
In case if the units stay unrented, the borrower should have enough cash reserve with him to pay Principal, interest, insurance and taxes for 6 months.
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28 November 2017 | 9 replies
Also, keep in mind, that your rental income and expenses do not include principal paid on mortgages.I think that for you more meaningful result would be: net rental loss + depreciation taken for the year - principal payments on the mortgage (interest portion should've already been included in net loss).
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14 December 2017 | 8 replies
@Walter Roby jr - Hey Walter, That's exactly what I wanted to do, but the Reverse Wholesaler brought in the Cash Buyer and she only wants to contract with her LLC as principal.
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27 November 2017 | 6 replies
Currently, the principal on the property is 256,507 and the payment on it is $2,285 .
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25 November 2017 | 6 replies
By spreading out the principal payments they spread out their tax burden and if they pass before the loan is paid off, there are no capital gains owed by the heirs (it's passed to them on the stepped up basis).
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25 November 2017 | 5 replies
Your primary state of residence and principal place of business comes into play with many states.
27 November 2017 | 4 replies
If you're worried about the cost of interest over time, well, you have the option of making additional payments towards the principal, but it's nice to have a low minimum payment when you don't have much cash, or you have a vacancy.Sorry if I haven't answered all your questions, but I'm sure there are other members with better ideas than mine.
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28 November 2017 | 4 replies
Cathie,Correction on the 2nd option:Cash flow would be $492 monthly/ $5,899cash on cash return would be 9.75%Yes, the sellers shared the interest rate and principal loan balance.I assume the sellers would come out of pocket for the $42k.
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26 November 2017 | 7 replies
To qualify for the Section 121 exclusion, it must have been your principal residence for 2 out of the past 5 years.