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8 May 2024 | 8 replies
We learned this the hard way with several of our bookkeeping Clients a couple of years ago.Now, having partners on individual deals within your entity is not the same as a "partnership entity".
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8 May 2024 | 5 replies
Hi everybody.I have a question on the tax/legal side here.Does an LLC created in the United States under the law of the U.S. and the any state, whose managers/members are foreign individuals, is subject to the FIRTPA withholding when selling a U.S. real estate property ?
8 May 2024 | 10 replies
OK, Citi Bank is presently calling my FICO score at 729 but my 3 individual scores this AM where 636,648 and 708
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7 May 2024 | 5 replies
However, we have a long-term plan to accumulate more than 10 properties and want to be strategic in the way we structure which one of us is on each of our loans now so that we can max out at 20 Fannie/Freddie loans in our individual names.
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9 May 2024 | 43 replies
The capital gains you would get from selling the property go back into the IRA tax free or tax deferred, depending on if the account was a Traditional or Roth and the only time you would incur taxes is if you took the money out of the qualified retirement account and took it into your personal name as a distribution.I would never own real estate inside of a retirement account.In your situation of transferring a certain percentage of the property itself instead of cash, you would need to pay a bunch of professionals on an annual basisA) $600+ for an appraiserB) $500+ for the title company to transfer ownershipC) $300+ for your accountant to properly adjust your taxable basis for the rental activity reported on your individual tax return.D) You risk your property taxes being reassessedYou also have to properly split each expense Furthermore, since you are not receiving cash, you would need to potentially find alternative methods to find cash to pay your tax liability.Yes, you are correct, depreciation is not needed/used within an IRA.
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8 May 2024 | 12 replies
Studies show that group training has only about a 5% success rate in buying properties, but people say they like the group atmosphere except they don't get their individual questions answered.Most "hands on”, “one on one” have the opposite, about a 90% success rate of buying properties.
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8 May 2024 | 8 replies
RAFT is only there to either help low income individuals into new apartments and to help people who are facing housing crisis and have received a 14 day notice or summons and complaint.
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9 May 2024 | 65 replies
To be that’s a question each individual investor/potential investor must answer for himself.
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8 May 2024 | 4 replies
Like a unified stock tracker.3) Analyze individual investments - dive into each property.