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7 January 2025 | 0 replies
Any recommendations for free tools to do market research?
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31 January 2025 | 8 replies
The meeting starts at 6 pm CST and members and 1st-time guests are free.
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31 January 2025 | 7 replies
However, in California, each LLC incurs an $800 annual franchise tax plus gross receipts fees if revenue exceeds $250,000, and property insurance may cost more.
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28 January 2025 | 4 replies
On your tax return you would report the proceeds, subtract costs and proceeds paid to seller, then the remaining profit would be your flat fee.
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14 February 2025 | 6 replies
Since you're using an FHA 203k loan and house hacking, focus on managing renovations efficiently to avoid delays and unexpected costs.
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30 January 2025 | 13 replies
Usually the numbers don't work to build in these neighborhoods, unless government tax credits, etc.Do you see the problem with your two statements:"The turnover costs could/will be high"and"How much more damage could they do?"
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25 January 2025 | 5 replies
Please feel free reach out.
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14 February 2025 | 5 replies
==========================My relative is asking if this is a viable way to legally avoid having to pay taxes:STEP 1: SELL PRIMARY RESIDENCE (House A)-Sell primary residence to son-in-law for cost basis + $500K-File gift tax form for difference between sale price & market value-Not pay capital gains on $500K due to personal exemption.STEP 2: SELL RENTAL PROPERTIES-Do 1031 exchange and buy House A back from son-in-law-Rent out House A for 1 year before move back in==========================Thoughts?
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4 February 2025 | 1 reply
Creative Freedom: You get to design and transform spaces, which can be personally fulfilling.The Bad: Where Flippers Lose Money⚠️ Underestimating Repair Costs: Surprise structural issues, contractor delays, and material price spikes can kill your budget.⚠️ Market Changes: A hot market today might cool down before you sell, which reduces the profit.⚠️ Financing Challenges: Hard money loans carry high interest rates that nibble into the bottom line.Unrealistic timelines: If you think you're going to be in and out in 60 days, you're sadly mistaken-most flips take longer than expected.Real Talk: Is Fix and Flip Still Worth It?
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5 February 2025 | 6 replies
Would the value of the remodel increase the rents or the selling price that would out weight the cost?