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27 March 2024 | 0 replies
Some are saying that by adding me to the trust, we will have to pay the transfer tax (for my portion only) because I am not on title.
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27 March 2024 | 11 replies
You cannot simply close with buyer (like all gurus say) then turn around and pay seller then transfer title to buyer- That is ILEGAL A way around this in case you cannot get transactional funding - Have your closing attorney draw up a Promissory not in submission to the buyer in which you will secure your equitable interest within the contract to the buyer...
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27 March 2024 | 9 replies
The key is constant knowledge transfer and training so that you don't have all the domain knowledge in one person.
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27 March 2024 | 9 replies
or...are you planning on "helping them" (adding/transferring title into your name)?
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27 March 2024 | 9 replies
The ACH transfers are slow but reliable.Cash: dangerous to handle that much cash, easy to lose, have stolenChecks: bounced check fees are a painPaypal and some other services: I have heard horror stories of accounts being frozen for weird reasons
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26 March 2024 | 6 replies
The safe harbor applies to the modification of a building that is not a historic structure if 75 percent or more of the existing external walls are retained in place as internal or external walls, and 75 percent or more of the existing internal structural framework is retained in place.
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27 March 2024 | 18 replies
Have done any soil testing or build studies so that you can transfer the land in a more opportune way than when you bought it?
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26 March 2024 | 2 replies
If not, you could take title as an individual and later transfer to an LLC (you might trigger some due on sale and/or transfer tax, so get legal representation on that).If LLC is not possible, I've used Revocable Living Trusts many times.
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26 March 2024 | 4 replies
Internal Revenue Code, unless their taxpayer guardian resides in the same unit.Property Ownership: Individuals or households that own real property are not eligible to occupy or lease the Affordable ADU.Liquid Asset Limitation: Eligibility is restricted to persons or households whose liquid assets do not exceed 110% of the annual Area Median Income.
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26 March 2024 | 9 replies
Looking forward to transferring those skills in to property management.