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24 January 2025 | 8 replies
Gifting equity in a house may be more trouble than it is worth if you are not near the life-time exclusion1) Potentially having to get the property appraised everytime an equity is gifted2) Having a title company update the title every time3) Exemption of the gift tax return is normally for cash gifts below the annual gift tax exclusion, you may still need to file if you gift non-cash4) If there is partial ownership over several years, having to properly pro-rate certain items such as real estate taxes, mortgage interest and rental income if the property is a rentalBest of luck
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28 January 2025 | 11 replies
I would stop work until an itemized scope of work and cost to completion is established.
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18 January 2025 | 16 replies
Just clearly state that you supply a starter supply of listed items and you should be fine.
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19 January 2025 | 13 replies
I just go in at the first of every month and code each line item to the corresponding property and note what the expense was for (Repair, HOA Fee, Mortgage payment, etc).
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23 February 2025 | 107 replies
Many years ago when foreclosures were the hot item and every idiot in town was getting rich from them till the bubble burst, I paid $180 for Carlton Sheets No money down deal course hardcopy books and cd's well I bought the house I was renting with 0 down.
19 January 2025 | 1 reply
Type Line Item Fee Fixed Fee Collected Rents 10% of All Collected Rents New Tenant Search & Onboarding $600 Variable Fees Business Hour Service Calls $90/hour + Materials Cost + Tax After Hour Service Calls $120/hour + Materials Cost + Tax 3rd Party Coordination HVAC Cleaning & InspectionGutter CleaningSpring/Fall Exterior CleanupSeasonal Mowing & Weed TrimmingSeasonal Snow PlowingGeneral Contractor Negotiated Vendor Cost + 10% Oversight Fee
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20 January 2025 | 5 replies
If a storm happens immediately after you replace the roof, the actual cash value is the same as replacement cost, so you've lost nothing.The only thing you would have to worry about are items you did not intend to repair
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23 January 2025 | 39 replies
We understand that not every negative item we dispute will come off.We persist until we succeed because you must have a high-level of doggedness as a real estate entrepreneur.We understand there will be sunk costs and time being wasted.
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19 January 2025 | 2 replies
Line Item Fee Collected Rents 10% of All Collected Rents New Tenant Search & Onboarding $500 Business Hour Service Calls $80/hour + Materials Cost + Tax After Hour Service Calls $110/hour + Materials Cost + Tax HVAC Cleaning & InspectionGutter CleaningSpring/Fall Exterior CleanupSeasonal Mowing & Weed TrimmingSeasonal Snow PlowingGeneral Contractor Vendor Cost + 10% Oversight Fee
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13 January 2025 | 27 replies
NJ is very diverse in many ways and there are areas that are tenant friendly and urban and there are areas with few tenants.