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26 January 2025 | 15 replies
Here are a few strategies to consider for funding a down payment:Partnering: Like Gregory mentioned, finding a partner who can contribute to the down payment in exchange for equity or a profit share is a solid option.HELOC or Cash-Out Refi: If you have equity in your home or another property, a home equity line of credit (HELOC) or cash-out refinance can provide the funds you need.Private Money: Reach out to friends, family, or private investors who may be interested in lending you the down payment with a promissory note.Seller Second: In some cases, the seller might agree to finance a portion of the down payment as a second mortgage.Live Frugally and Save: It takes time, but reducing expenses and setting aside funds from your income is a tried-and-true method.The right approach depends on your situation and deal structure, but a mix of creativity and resourcefulness can go a long way.
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9 January 2025 | 32 replies
If we do cost segregation how much would we reduce our taxes by?
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13 January 2025 | 2 replies
Use your HELOC to purchase the duplex outright for $118K.Your brother’s $50K down payment can immediately go toward reducing your HELOC balance, leaving a remaining balance of $68K.Create a formal lease-to-own agreement with your brother.
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11 January 2025 | 14 replies
This level of scrutiny drastically reduces the risk of renting to unreliable tenants.Realtors vs.
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18 January 2025 | 21 replies
Stick to areas you know well; this familiarity can greatly reduce risk and boost your confidence when making purchasing decisions. 2.
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22 January 2025 | 22 replies
So while moving back into it for 2 years does bring the 121 exclusion back into play, that exclusion is reduced based on the percentage of Non Qualified usage over the holding period.
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27 January 2025 | 18 replies
If the Seller will not reduce the price to where it still makes sense to you then do not do this deal.
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31 January 2025 | 10 replies
Property management fees and software subscriptions are deductible, and depreciation reduces taxable rental income.This post does not create a CPA-Client relationship.
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18 January 2025 | 6 replies
With this, along with shifting the utilities to the tenants and reducing the management fee to generate an NOI of around $103k, I'd estimate the value around $1.8M to $2.0M
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17 January 2025 | 9 replies
If this job popped up out of the blue, your intent was not to move within the 1st year, so you may be ok.If you are planning on building a portfolio of homes, it is safest to stick in your home for 12 months to reduce the appearance of potential fraud.