
3 January 2025 | 5 replies
You have to adjust your expectations to match current reality, which includes higher mortgage rates, higher prices, more expensive taxes and insurance, more competition, etc.

26 December 2024 | 5 replies
Have you raised money prior?

4 January 2025 | 5 replies
. ==== Projected Income ====**Off Season**-$4,000/Month Rent Period: September - May (7 Months) Projected Income: $28,000**Summer 1**-$8,000/Week Rent Period: June (4 Weeks)Projected Income: $32,000**Summer 2**-$8,500/WeekRent Period: July-September (12 Weeks) Projected Income: $102,000**Optional** (Basement Apartment)-$2,000/Month -Rent Period: Year Round Projected Income: $24,000TOTAL PROJECTED INCOME: $186,000 ==== Operating Cost ====-Mortgage: $84,000 ($7,000/Month) -Utilities: $36,200Gas $6,000 ($500/Month) Electricity $6,000 ($500/Month) Internet $2,400 ($200/Month) Garbage $5,000 (Estimate) Pool $4,000 ($250/Week)Landscaping: $4,000 -Mowing: $2,400 ($150/Week) -Clean Ups: $1,600 (Spring & Fall)-Weekly Turnovers: $8,800 ($550/Week)==== Legal Cost ====Summer Rental Fee: $20,100 (15% of $134K)Sandwich Rental Tax: $6,855 (15% of $45,700) NET PROFFIT: $38,845.00

6 January 2025 | 13 replies
Compare this to your total monthly costs, including mortgage, insurance, taxes, vacancy and maintenance.

30 December 2024 | 3 replies
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24 December 2024 | 9 replies
Quote from @Leo Ray: LOL ....next up: a videogame simulator for doing your taxes.

2 January 2025 | 36 replies
Be aware of tax implications: rental income is taxed in the property’s state and reported on your California return, with deductions for travel, depreciation, and expenses.

21 December 2024 | 7 replies
It will have to be a pass through/disregarded LLC to keep the tax payer the same and the 1031 valid.

25 December 2024 | 4 replies
While the home needs to be paid for prior to delivery in many cases, the transport companies carry the insurance from the factory to the site.

31 December 2024 | 3 replies
Unlike a mortgage the interest on your loan will not be tax deductible.