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31 May 2024 | 9 replies
Finally, in the event of default, as we work through the grace period we could get the deed recorded in our name before we sought a new buyer (if we couldn’t get the current buyer back on track).Obviously I’m getting the sense no one here’s a fan of skipping recording, I’m just wondering if these additional aspects change the calculus for you at all.
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31 May 2024 | 4 replies
We would follow abandonment processes for getting possession back and storing belongings.But we are less likely to encounter this because we have this clause in our rental agreement:In the event of abandonment, arrest or death, the following person has the authority to decide when to terminate tenancy and how to store/distribute my belongings:Name: ____________________________________________________Address: ____________________________________________________Phone #: ____________________________________________________If we have an applicant who will be living alone we include this wording.
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31 May 2024 | 8 replies
Join a bootcamp, listen to the podcasts, read/add to the forums, read our books and go to local events.
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30 May 2024 | 5 replies
It's the idea of Buy - Rehab - Rent - *Refinance* - Repeat.Selling your property would be a taxable event, too.
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30 May 2024 | 3 replies
I'd recommend joining CTREIA or come to one of the events hosted by @Stephanie Cabral, @Brandon Rush, @Devin Peterson, @Ryan Luby.
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30 May 2024 | 7 replies
Beyond the Monthly Management, Placement & Maintenance fees, all other fees in our contract are IF EVENT -> THEN fees.
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29 May 2024 | 4 replies
The LLC has no impact on the effective tax rates.Also if you acquire a property for the purpose of flipping, that will always be Ordinary Income, also likely subject to self-employment taxes.That particular sales event has no impact on the taxation of your normal rental income from other properties.
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30 May 2024 | 10 replies
Look for local meet-ups and networking events.
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29 May 2024 | 9 replies
Any specific networking events, forums, or groups within BP or outside it that you have found valuable?
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30 May 2024 | 31 replies
AS we know failure to pay tax or insurance is an event of default so one can quickly move against the asset if the borrower is not adhering to the terms of the DT / Note.