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5 October 2024 | 0 replies
Here’s what a 'co-ownership consultation' would look like:- We review an active listing of your choice to:- Build a cost-of-co-ownership model for the property which includes:- Individual ownership and ongoing cost assumptions- Modeling potential rental income for short-term rentals- Modeling financial outcomes from various exit scenarios- Tax benefits and considerations of shared homeownership- Pros/cons of different ownership structures (joint tenancy, LLC, tenants in common, etc)- Talk through the legal agreements (I am not a lawyer and this is not legal advice but I do have extensive knowledge about TIC and other co-ownership agreements)- Briefly discuss some of the ways AI is making the work that goes into successfully managing a shared home easierIf you're interested, here's what I'm asking:- You’re a U.S. citizen or permanent resident interested in co-owning in the U.S.- You choose a property that’s actively listed and something you'd realistically be interested in co-owningShoot me a message if you're interested and open to 30ish minute chat.Thanks!
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9 October 2024 | 10 replies
If you click on the individual owner page there is an error but you can still submit an application to list and you can still see listings so there is nothing indicating that they are stopping operation that I could see.
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9 October 2024 | 9 replies
Your best bet for locating and connecting with this individual is on BiggerPockets or your local REI meet-up.
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8 October 2024 | 5 replies
Also, the LLC does NOT eliminate any personal liability on the next loan application which is a popular selling point by ill informed DSCR brokers on this board (but they rarely mention the higher financing costs that come with financing in a LLC) IMO, proper insurance coverage is a better choice.
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7 October 2024 | 24 replies
Stessa is great if you are an individual and you are just trying to track the income and expenses on your rentals.Unfortunately, for Stessa, they do not have the ability to generate a balance sheet which makes it a no-go for any business.
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11 October 2024 | 17 replies
Make sure the GC and subcontractors list the property owner whether it’s you as an individual or an entity as additional insured.
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9 October 2024 | 9 replies
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8 October 2024 | 4 replies
However, the exact treatment may depend on your accounting method (cash vs. accrual basis), but most individual taxpayers use the cash method, meaning they typically report expenses when paid.
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7 October 2024 | 3 replies
They will need to file a partnership tax return, and each owner will receive a K-1, which will include their individual SSN.
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2 October 2024 | 9 replies
To kind of give you a sense of what you are asking, it is like me asking you if Eating Out is a good choice?