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30 July 2024 | 3 replies
Before that it was primary residence since January 2019.Do I need to sell it this October to avoid capital gains tax to qualify for 2 of last 5 years exemption for capital gains (up to 250K single, 500K married filing jointly)?
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2 August 2024 | 5 replies
Marked Rentals LLC, for instance, provides flexible loans with fast approval and can be a great option for real estate investors like you.Home Equity Investment: Some companies offer equity-sharing arrangements where they invest in your property's equity and you get a lump sum without taking on debt.Business Line of Credit: If your STVRs are operated as a business, you might qualify for a business line of credit, which can provide the flexibility you need for fix and flip projects.Feel free to reach out if you need more detailed information on these options or if you have any questions about flexible financing solutions.Best,Stacey Wells.
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2 August 2024 | 5 replies
@Jeff StevensonYou really should consult a qualified professional or two, specifically at least attorney.So far, your lender is correct that legal entities, such as LLC's, are not eligble for conforming residential loans.
2 August 2024 | 15 replies
I highly recommend a well-qualified REALTOR who works with investors and knows how to help you best.7.
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1 August 2024 | 4 replies
Luckily, my mom qualified for the Landlord Compensation fund.
2 August 2024 | 19 replies
You don't necessarily need a w2 for active income it can also be anything else like self employment works too you just have to wait one year of tax returns but run your business for at least to years to use it and make sure you don't write off too much as you want to be able to use the income to qualify for a mortgage.
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2 August 2024 | 18 replies
Then we stayed in our fixer-upper, used HELOC to buy investment property cash, then get a cash-out mortgage and pay back HELOC once rented out with rental history to qualify, and do it again.
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1 August 2024 | 4 replies
The cash flow from your investments can then be reinvested to generate even more income streams.Four big reasons why I chose to pull my accounts back in 2012-2014 putting money from these qualified retirement plans (401(k)s, Roth IRAs, and other Qualified Retirement Plans (QRPs)):1) Taxes: You’ll pay taxes on this money eventually, despite what you might hear about tax-free growth.
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1 August 2024 | 4 replies
Upgrades/repairs include:flooring (tile and carpet, entire house), painting (entire house), complete kitchen renovation with new appliances, cabinets, sink, lightingcomplete bathroom renovationsupgrade/replace ACupgrade/replace existing hot tub upgrade/replace furniture/bedsupgrade/replace old pier with newadd new kayaks, paddle boards, and bikesI am thinking anything that is removable (furniture, appliances, water toys, bikes, pier, etc) could qualify as an asset for the LLC and thus be used as a tax expense for the LLC.
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3 August 2024 | 10 replies
I keep hearing bad things with Doorloop.Appfolio is great, but you won't qualify for it.