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19 July 2024 | 16 replies
I just sold my business and in looking for ways to offset capital gains taxes stumbled across a strategy in which a STR can write off all depreciation in year one via a cost segregation analysis, thereby reducing taxable income greatly for a specific year.
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19 July 2024 | 2 replies
You could write a simple statement and have all parties sign and date:"Landlord and Tenant agree to extend this lease with a new termination date of June 30, 2025."
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19 July 2024 | 6 replies
I would strongly recommend creating one to ensure everything is neatly organized and you don't get flagged by accidently writing off personal expenses.
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20 July 2024 | 22 replies
The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!
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21 July 2024 | 64 replies
I can’t even seem to write a deal with inspection contingencies at this point so… Personally, I would never take that amount from a relative to “invest for them.”
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19 July 2024 | 7 replies
I also found a small local community credit union who will write first position HELOCs.
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20 July 2024 | 5 replies
Then notice the bank President in writing.
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20 July 2024 | 28 replies
Then while writing this I thought, but AI couldn’t do any original thinking.
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19 July 2024 | 53 replies
. - Single family homes to rehab and hold or to fix & flip- Loan is in your name not your LLC- Rates between 5% and 6% depending on credit score- 30 year term loan, fixed rate, no pre payment penalty if sold or paid off anytime- Example buy at 100,000 and add 50,000 for rehab = 150,000 means 15% down payment or 22,500- So the buy is financed at 85% and so is the rehab if you look at it that way- House will be appraised off a contractors write up of the work to be done and must appraise out ARV to at least the 150,000 to make sense at all; if not loan is not approved so a buyer cannot get into trouble in that sense with lender oversight- all work must be done by licensed trades people, not the own themselvesIf this sounds plausible I'm happy to answer questions.
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20 July 2024 | 15 replies
But, again, if your LES shows an ETS date of less than 12 months your current income won't be usable, unless (a) you write a letter to certify that you will reenlist and also have a commander certify that you will be eligible, or (b) you use income from a new job that you'll start near the subject property before closing.