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12 December 2024 | 6 replies
Double taxation would be when you have to pay US income tax and then also Canada income tax and you don't receive a credit for your US income taxes.
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15 December 2024 | 13 replies
$15k co-host, $6k insurance, $34.8k P&i (7%, 30 year DSCR), $5.5 prop tax, $12.7k utilities (mostly propane & elec), $7k maintenance/cap ex (3100’ with class A finishes), cleaning $24k (8 turns/month), then the small items.
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16 December 2024 | 6 replies
If you need financial help, ask under the "Finance, Tax, and Legal" forum.
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16 December 2024 | 6 replies
Some numbers below for reference: I currently am taking home about 140,000 pre-tax.
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17 December 2024 | 9 replies
The biggest advantage of using someone local to where you're buying is that they will understand taxes, insurance, and similar items very well when it comes to DTI/DSCR calculations and payment quotes, and they will likely have a local network of service providers for ancillary services (survey, inspections, etc).
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4 January 2025 | 67 replies
Main question in other countries is ownership and taxes.
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13 December 2024 | 8 replies
In your scenario, selling the relinquished property for $450K after completing a reverse 1031 exchange will allow those proceeds to repay the intermediary without triggering capital gains taxes, provided all exchange requirements are met.
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18 December 2024 | 7 replies
You will truly be raising the clock, as each day will cost you very significant money. 12% interest on $250k is $2500/mo, or about $80 per day in interest, not including your other carrying costs (utilities, property taxes, insurance, HOA).
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16 December 2024 | 4 replies
After he teamed up with a local intermediary in the Bay Area.. from what I read in the Wall Street Journal, Lockton has been helping investors streamline these moves.. he ended up freeing enough capital to invest in a mixed-use building in San Antonio that we’d been eyeing for a while.I’m no attorney or CPA, so I’m not giving legal or tax advice here, but there’s definitely something to be said for repositioning your insurance to fit your broader investment goals.
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15 December 2024 | 2 replies
I know how much my property taxes will be, but what other expenses are there, and approximate cost?