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19 January 2025 | 9 replies
It would/could be only 15% capital gains tax and yes you could/would deduct all selling costs including commissions and transfer taxes.
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20 January 2025 | 14 replies
Quote from @Erick Pena: A "good" rental property is one that covers all expenses (mortgage, taxes, insurance, maintenance, property management fees, and any other costs) and still leave a surplus (commonly referred to as cash flow).Calculate cash flow as: Cash Flow = Rental Income − Operating Expenses − DebtThere's much more to it, but that's the basic idea.
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6 February 2025 | 87 replies
Agent fee's etc. for cost of selling is a drop in the bucket compared to the returns.
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17 January 2025 | 24 replies
For IRAs and HSAs, a financial institution trustee is an integral part of what the Tax Code defines as an IRA or HSA.
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20 January 2025 | 62 replies
If you would like to show your tax returns or w2s then I can put you in a conventional loan because we are a conventional lender also.
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28 January 2025 | 12 replies
The entry fee is 8% the existing loan carries an interest rate of 4.125%.
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5 February 2025 | 15 replies
Usually 15-25% and they keep cleaning fee.
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3 February 2025 | 3 replies
you can't really micromanage tenants.All you can do is create systems with some flexibility.Again, if you read how we charge our Processing Fees, they encourage the behavior we want, while discouraging (via fees) the behavior we do not want.
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12 January 2025 | 2 replies
My duplex - built 1989, 2,060 sf, 2 bed/bath, 1 year old roof, value if I subdivide (county already approved) and sell each separately $150k each ($300k total)Investor duplex - built 1995, 2,300 sf, 2 bed/bath, 5 year old roof, value around $310kThe investors initial request was for an equal trade and they would pay realtor fees, which I replied wouldn't be equal due to buying/selling costs (recording fees, title insurance, closing fee, survey, inspections, loan fees, 1031 fees, accountant fees, repairs), taxes would increase due to new sale price, I'd trade a 3.75% mortgage for a higher one, and I'm on the 10th year of a 30 year loan so resetting that to a new loan would restart amortization and pay more towards interest.
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29 January 2025 | 24 replies
You'll also need to show stable income for the past two years through W-2s or tax returns.Talk to 3-5 lenders to compare their rates, fees, and terms.