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6 January 2021 | 9 replies
This will simplify the process as the agent and the lender will already be in communication and will know what step of the home buying process you are in at all times, making the whole process smoother and quicker for you as the home buyer.
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6 January 2021 | 3 replies
Closing costs on the sale, around $100k (numbers are simplified).
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10 January 2021 | 8 replies
If you want real help, you'd be well served by finding your own accountant to guide you with tax planning.That said, some general pointers that also may or may not be applicable to you:You usually want to separate rentals from flips, both for tax reasons and legal liability reasonsKeeping each rental property in a separate LLC is debatable; it does not usually change your taxes and is intended for legal protection which is for attorneys, and I'm not one of themDitto for trustsKeeping each flip in a separate LLC is usually counter-productive but is also case-by-caseCreating a holding company to own other LLCs may be a bad idea from legal protection angle, but it is also for attorneys and not for meCreating a management company can unify and simplify your operational procedures, depending on how you run your businessA management company can also bring certain tax benefits such as generating active income and room for retirement plans and other benefits, however you may already have this option via your existing LLC(s) involved in flippingAs you can see, there's no quick microwave recipe here.
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10 January 2021 | 10 replies
In the most simplified answer, we take the current market cap rate and escalate it every year anywhere from 0.20 to 0.05 depending on the age, condition, and strategy of the project.
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8 January 2021 | 0 replies
It was a very simplified approach but amazing way to show the 1000 foot view of real estate.
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11 January 2021 | 0 replies
Honestly, I need to send them a gift card for a nice date night to thank them for simplifying the process tremendously!
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14 January 2021 | 31 replies
(Consult your lawyer on this for sure)But I am trying to think, how can you simplify this this way you can get started ASAP!
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2 April 2021 | 6 replies
In my 20 years of experience, I would say most people over simplify the experience and the process and have a hard time determining what value any one particular realtor offers.
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22 September 2020 | 2 replies
Is something like this possible (simplified hypothetical example):Seller wants 500kConventional loan for first 400kSeller carries a 2nd note of 25k at 19.5915% over 20 years = $100,009 in total paymentsWould this then record a lower sales price of 425k and save a bit on property taxes too and still eventually get seller their 500k asking total?
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22 September 2020 | 9 replies
It simplifies the learning curve as you build up a contractor team, figure out a rental software, get a grasp on tracking expenses, etc.The MFH market in Kalamazoo is really tough.