Noah Laker
TAXES: Divorced client wants to sell
17 January 2025 | 3 replies
If the client is in CA the community property state laws may help here (not entirely sure) depending on when the property was acquired but it would be a great question for an attorney as Jason mentioned.If they were married and went through a divorce it would be worth looking into how the divorce paperwork stated how that property would be handled.
Braeden Warg
What to pull permits on
27 January 2025 | 8 replies
I pull permits for removal of load bearing walls, addition of bathrooms or bedrooms, addition of footage.
Enrique Toledo
Seller financing financial questions
27 January 2025 | 7 replies
I agree with the others here that say you need to have some skin in the game, if you are going to live there yourself, get an FHA loan rather than owner financing, you can get a 3.5% down loan, personally I do not love these as they require PMI which is an additional expense, and you also need bring additional funds for closing at least for taxes, title, attorney and transfer fees . borrowing from anyone else for the down payment, to include a personal loan from the bank is not a good idea, those again will be higher int. rate.
Stuart Udis
What language was added to your lease in 2024?
30 December 2024 | 7 replies
Here's one of mine:I acquired a building towards the middle of the year with an existing commercial tenant.
Abigail Joanna
Buy tiny home to put on property or save for next property?
31 January 2025 | 7 replies
If you can add a legal ADU at $25k in the Austin area then you should add it.
Jai Windish
Central Illinois Rookie
30 January 2025 | 11 replies
If the price was right on Turn-key maybe, but probably more of the fixer-upper that can be leveraged later on for additional property or sold for a nice profit.
Nicolas Tow
Re Zoning Property from RS-3 to RT3.5 or RT 4
23 January 2025 | 9 replies
Additional Resources to check, 'FYIs', in case you want to learn more about rezoning in the future)-Look up your address on the city's zoning map here to see how properties in your immediate vicinity are zoned.
Elvon Bowman
First time acquisition
16 January 2025 | 12 replies
Also be open to knowing that you are acquiring a series of problems.You're in the solution business.
Sanjai Dayal
Own commercial building, I use 2 of 7 offices for medical business- pay myself?
29 January 2025 | 4 replies
Additionally, if your goal is to maximize personal financial benefits, consider profit distributions from the property-owning LLC, which may provide tax flexibility depending on your situation.By adhering to FMV, maintaining proper documentation, and structuring the lease agreement carefully, you can optimize tax benefits while staying compliant.This post does not create a CPA-Client relationship.
Clarase Mika
Did You Know You Can Purchase Property in Germany With Only 5-10% Down? Here’s How
24 January 2025 | 0 replies
A local real estate lawyer or translator can ensure you fully understand the terms and conditions of the purchase.Other Costs to Consider- Closing Costs: In addition to your down payment, expect to pay an additional 8-12% of the property price for:- Notary Fees: Around 1-2% of the purchase price.- Property Transfer Tax (Grunderwerbsteuer): 3.5-6.5%, depending on the region- Land Registration Fees: Approximately 0.5-1.5%.- Realtor Fees: As mentioned, these range from 3-7% of the purchase price, plus VAT.Benefits for Service Members- Equity Building: Owning property builds equity over time, providing long-term financial security.- Strong Rental Potential: If reassigned, you can rent the property out in Germany high-demand rental market.- Tax Advantages: Germany offers tax deductions for property owners, which can help offset some costs.Key TakeawaysService members have a unique opportunity to buy property in Germany with minimal upfront costs.