15 September 2024 | 33 replies
In our area there are business administrator (assistants to the mayor) who have more decision making power than others, but the head of the water/sewer or public works department may be able to help you too.
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12 September 2024 | 10 replies
Under IRS rules (see IRS Publication 925 on Passive Activity and At-Risk Rules), when you sell a rental property, all suspended passive losses from that property and the rest of your portfolio become deductible in the year of the sale, provided you fully dispose of the activity and it is not exchanged for another property (like in a 1031 exchange).If you have $100K in losses from your entire portfolio, those should be applied to the capital gain from the sale of the property—not just the $50K from the specific property being sold.
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13 September 2024 | 7 replies
It secures the loan with equity from the current portfolio, so providing liquidity for the down payment.
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11 September 2024 | 2 replies
I was under the assumption that the road leading to cabin was a public road as it is named and marked on all maps, apparently not.
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13 September 2024 | 4 replies
She breezed through her application, has great references and credit score, had already paid her July rent/security deposit, has insurance in place, and is set up for auto-pay going forward.Thanks for your insights!
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12 September 2024 | 17 replies
Have you tried looking in private or incognito mode to see what the public is seeing?
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12 September 2024 | 2 replies
I'm also considering having them review the lender agreement forms before signing and securing the loan.
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13 September 2024 | 11 replies
You may have to pay off the whole mortgage if the due on sale clause is exercised.No need to move in an LLC if it has a big mortgage and insurance.An LLC can also give you a false sense of security that can easily be pierced with a decent attorney.Just have correct insurance and properly maintain your property.
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12 September 2024 | 9 replies
I do a weekly "live deal analysis" on my Facebook page if you are interested, it's public so you can view it without friending me.
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12 September 2024 | 21 replies
Russell, the property owners terms of note secured by the real property, unless in foreclosure, have little to do with the tenants obligation.