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9 December 2024 | 98 replies
If anyone thinks they will avoid taxes with bitcoin they are mistaken.
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9 December 2024 | 5 replies
What are some pros that I can highlight from the seller’s perspective.Here are a few that I’ve come up with:1) monthly income at a higher interest rate;2) avoiding a larger tax bill by reducing the purchase price (on paper);3) a promissory note that they could potentially sell down the road.Any other major ones I am missing?
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10 December 2024 | 6 replies
@Ben Cochran I hope you have factored STR tax savings into your cashflow and ROI as it can be significant.Leveraging equity to purchase a short-term rental (STR) in Tampa Bay can diversify your portfolio and potentially generate strong cash flow, but it also increases your financial risk.While your properties hold significant equity, adding debt from HELOCs or a DSCR loan could strain your finances if STR performance fluctuates or costs rise.
10 December 2024 | 13 replies
Truthfully, I don't think a Capitalization Rate of 8% is terrible plus you'll have an appreciating asset along with the tax benefits.
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10 December 2024 | 8 replies
Here are the numbers:Purchase price: 300k @5.5% (might be able to negotiate new exterior paint job credit)Monthly costs: mortgage- 1703 tax-245 (2933/yr) insurance- 167Market rents are 1600$ easy for both sides as is but currently being rented at 1410 and 1325 tenets pay all utilities (separately metered)Planning on putting aside 20% of rents for Maint, vacancy, capex and will be self managing property.
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13 December 2024 | 9 replies
(They both shrink your pool or buyers and combining them really shrinks the pool.)Assuming you don’t plan to do a 1031 exchange you’ll also pay higher taxes if you can’t spread them over two calendar years, but not much.
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8 December 2024 | 28 replies
Thanks Tom Wheelwright for writing the book "Tax Free Wealth".
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11 December 2024 | 7 replies
Finally, we do not care about your tax returns, etc.- since these loans are primarily based off of the asset as collateral.
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10 December 2024 | 17 replies
My go to for lowest hassles, taxes and transaction costs are Lease Options or selling directly to the renters.
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4 December 2024 | 4 replies
Where people went cheap with online brokers, many of those companies just did not have the resources or expertise is seemed in many instances to handle claims.