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22 January 2025 | 9 replies
@John Reagan Johnson hope you don't mind a PMC answering, but most of our clients hire us because:1) They live out of state and don't have time & expertise to remote manage2) They don't have the time to manage3) They don't feel they have the necessary expertise and/or don't want to risk learning as they go and making an expensive mistake.Go read Kiosaki's Cash Flow Quadrant book.
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29 January 2025 | 5 replies
Of course you can never have control of the money and you must have your QI in parcel before your sale completes. .
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7 February 2025 | 6 replies
@Eric SmithGenerally, if the taxpayer sells the relinquished property to an unrelated party, the taxpayer generally cannot acquire replacement property from a related party unless:The related party is also participating in a 1031 exchange.The related party pays more in tax on the sale to the taxpayer than the taxpayer is deferring in the exchange (this scenario is rare).Let’s look who is considered a related party: Spouse, children, grandchildren, parents, and siblings.Corporations and shareholders owning more than 50%.Commonly controlled corporations.Partnerships and partners with more than 50% interest.Trustees, grantors, and trust beneficiaries.Non-Related Parties:In-laws.Aunts, uncles, nephews, nieces.Friends.Domestic partners.Entities owned 50% or less by the taxpayer or a related party.In your case, your mother-in-law, aunts, and cousins are not considered related parties to you under the definitions in Sections 267(b) and 1031(f).
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27 January 2025 | 13 replies
While it may seem unfair to offer financial incentives to problematic tenants, sometimes it’s the quickest and least costly way to regain control of your property and move forward.Lastly, connect with local landlord associations or advocacy groups.
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22 January 2025 | 12 replies
At least we don’t have rent control and it’s in the IL constitution that rent control is illegal otherwise Chicago would for sure have it by now.
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29 January 2025 | 11 replies
Build a local team, including a trustworthy real estate agent, property manager, and inspector, to help you identify and manage deals remotely.
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19 January 2025 | 11 replies
We are looking to eventually relocate to the States"--that's great, a lot of people want to invest remotely in a totally random market and never go to it.
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6 February 2025 | 10 replies
Obviously, i left that dumpster fire and decided to work at the same type of job, except work in a remote atmosphere...
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1 February 2025 | 30 replies
Since I live in an expensive market, I'll need to do remote investments in the near-term, so right now focused on turn-key properties.
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10 February 2025 | 16 replies
I have a feeling my entire local market is going to be the same outlook to make their over value seem reasonable to themselves..Do you or they, control the future?