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8 October 2024 | 1 reply
Furthermore, during the rental period, expenses like repairs and insurance were deductible, but these deductions end when the property becomes a primary residence, with only mortgage interest and property taxes potentially deductible as itemized deductions.In short, converting a rental property into a personal residence can provide some tax advantages, but you’ll need to account for taxes on both the depreciation and the portion of the gain from the rental period when you eventually sell the home.
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8 October 2024 | 7 replies
You're likely to have a massive escrow shortage if you escrow taxes and insurance.
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2 October 2024 | 2 replies
Last week I received a letter from my insurance company stating they were going to discontinue my policy due to the current condition of the property (missing siding) and due to the fact that I am not currently living there (which is not true).I contacted my insurance broker and due to the fact my current insurance company disclosed the cancellation, they could not find another company that would insure the property.I just filed a dispute with the state.
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7 October 2024 | 0 replies
Most commonly in this area it would be for boats/campers.Specific insurance?
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8 October 2024 | 9 replies
However, you will have mortgage insurance on either loan under 20% down.
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6 October 2024 | 1 reply
These investors look for stable, scalable businesses with clear growth plans.7.
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7 October 2024 | 4 replies
I found this but I can't understand what the other costs are https://www.narpm.org/members/resources/rent-vs-sell-calculator/SFH current value: $441,000Bought for (2020 new construction): $362,000 (primary residence till Nov 2023)Mortgage balance: $218,000Interest rate: 2.375% for 15-year loan (12 years left)Annual Tax, insurance and HOA: $7,000Current rent: $2950Appreciation: Reached $441K in March 2022 and has stagnated since.
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2 October 2024 | 5 replies
@Randall AlanWhat kind of insurance do you carry if you have SFR in Florida?
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4 October 2024 | 9 replies
You don’t need an SSN to get a driver’s license, register for school, get private health insurance, or apply for school lunch programs or subsidized housing."
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6 October 2024 | 5 replies
Insurance agent in Atoka, OK and insuring properties in the area regularly.