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6 May 2024 | 5 replies
The application is done with IRS Form W-7, and foreigners must provide original certified identification documents.IRS Form W-7IRS Form W-7 InstructionsThe IRS has 'Certified Acceptance Agents' who are authorized to certify foreigner investors’ original documents and process the application.
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7 May 2024 | 6 replies
Persistence is key – it involves adjusting to market changes and overcoming difficulties with patience.
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7 May 2024 | 27 replies
If the problem persists I will send a certified letter saying the same.
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6 May 2024 | 4 replies
I asked her to send it certified mail and did not comply with those directions and sent it regular mail for her late rent.
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7 May 2024 | 6 replies
@Scott Trench Thank you for your insights, this will help me adjust and take action.
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9 May 2024 | 43 replies
The capital gains you would get from selling the property go back into the IRA tax free or tax deferred, depending on if the account was a Traditional or Roth and the only time you would incur taxes is if you took the money out of the qualified retirement account and took it into your personal name as a distribution.I would never own real estate inside of a retirement account.In your situation of transferring a certain percentage of the property itself instead of cash, you would need to pay a bunch of professionals on an annual basisA) $600+ for an appraiserB) $500+ for the title company to transfer ownershipC) $300+ for your accountant to properly adjust your taxable basis for the rental activity reported on your individual tax return.D) You risk your property taxes being reassessedYou also have to properly split each expense Furthermore, since you are not receiving cash, you would need to potentially find alternative methods to find cash to pay your tax liability.Yes, you are correct, depreciation is not needed/used within an IRA.
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6 May 2024 | 3 replies
@Jamie SingletonMaybe best to work with a Certified 203k Contractor who does not require 50% upfront.
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9 May 2024 | 159 replies
Real estate is still one of the best investment , it is just for everything needs lot of adjustment.