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27 June 2024 | 2 replies
Here are some examples of RV Park assets that can be reclassified:Computers and office equipmentOutdoor lightingPaving and roadsLaundry equipmentMaintenance equipmentSwimming poolsFences and gatesLandscaping elementsUtility systemsIn a recent case study of an RV Park in Fort Wayne, Indiana, a cost segregation study allowed the owner to accelerate over 97% of the basis resulting in over $36M in accelerated depreciation.
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26 June 2024 | 5 replies
But I don't have a physical office location, I work remotely with clients all over the US.
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27 June 2024 | 2 replies
Here are some options and considerations:Loan Against Equity/ETFs:Margin Loans:Description: Margin loans allow you to borrow money using your investments (such as stocks or ETFs) as collateral.Pros:You retain ownership of your investments.Generally quick access to funds.Interest rates can be relatively low compared to other types of loans.Cons:Your investments are used as collateral, so if their value declines significantly, you may face a margin call (requiring additional funds or securities).Interest rates can vary and may be higher than traditional loans depending on the lender and your creditworthiness.Securities-Based Line of Credit (SBLOC):Description: Similar to margin loans, SBLOCs use your securities (stocks, ETFs) as collateral, but they typically provide more flexibility and may not trigger margin calls as easily.Pros:Allows for ongoing access to funds as long as your collateral remains sufficient.Interest rates may be competitive.Cons:Similar risks of potential margin calls if the value of your securities drops significantly.Terms and interest rates can vary widely among lenders.Comparison with 401(k) Loans:401(k) Loans:Description: Borrowing from your 401(k) allows you to access funds without selling investments, using your retirement savings as collateral.Pros:Typically low interest rates.No credit check required.Interest paid on the loan goes back into your 401(k) account.Cons:Usually capped at a percentage of your vested balance (commonly up to 50% or $50,000).If you leave your job, the loan may need to be repaid immediately or could be considered a taxable distribution.Potential opportunity cost of missing out on market gains if funds are withdrawn from investments.Other Alternatives:Home Equity Line of Credit (HELOC):Description: If you own a home with equity, a HELOC allows you to borrow against that equity at typically lower interest rates than unsecured loans.Pros:Lower interest rates compared to other types of loans.Interest may be tax-deductible if used for home improvements (consult a tax advisor).Cons:Your home serves as collateral, so failure to repay could result in foreclosure.Personal Loans:Description: Unsecured personal loans can be used for various purposes, including investing, but typically have higher interest rates than loans secured by collateral.Pros:No collateral required.Funds can be used for any purpose.Cons:Higher interest rates and stricter eligibility criteria based on creditworthiness.I am a loan officer and we do some of the loans stated above.
28 June 2024 | 10 replies
I am a loan officer, if you need more detailed advice or have specific questions, feel free to ask!
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27 June 2024 | 4 replies
I have 50+ rental houses and a handful of office buildings and MF so I'm almost where I could pull it off by myself but I still think we could have more "pull" with a larger combined portfolio and shared resources..
26 June 2024 | 2 replies
I am a loan officer and I have some great software and calculators for this stuff, so let’s set up a call sometime and we can discuss your options.
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26 June 2024 | 5 replies
Two months ago a guy showed up at my office with a truck full of family and a large trailer full of belongings.
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26 June 2024 | 9 replies
Because of this I have rented two of the apartments to people using them as office/meeting space.
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26 June 2024 | 3 replies
As a mortgage officer, I can assist you in understanding loan products that suit your investment goals, such as conventional loans, FHA loans, or portfolio loans.Property Management for Self-Owned Properties: Leverage your management skills to maintain high occupancy rates and maximize ROI on your investments.I am a loan officer licensed in NC, feel free to reach out if you have any questions or need assistance with financing options.
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26 June 2024 | 3 replies
I am a loan officer, so my advice is just advice.