
13 November 2024 | 18 replies
Depending on the lender, you can/should tell them upfront so they can document the LLC in the file so you are sure not to have a due upon sale clause triggered when/if you do transfer into your LLC. #2.

19 November 2024 | 111 replies
I have a written office policy manual that explicitly permits my employees and sales agents to carry at their discretion.

10 November 2024 | 2 replies
The senior tax lien forecloses and the proceeds from the sale would first go to them to pay them off, then would go to you as the junior lien holder etc.

6 November 2024 | 1 reply
HUD typically covers their portion of the rent directly to you each month.4.

6 November 2024 | 0 replies
Others 15 yrs, etc.So we depreciate a portion of the asset costs faster.We do the study and get dollar amounts assigned to different parts and different schedules to front-load depreciation.Now you can get 5 or 6% of the value as a deduction in the early years...But wait... there's more.Bonus depreciation allows you to deduct a certain percentage of cost in the first year an asset is put into service.Anything that is on a schedule of 15 years or less...So the doors, sidewalks, HVAC, walls, latches, curbs, security, gates, etcA % of this stuff goes in Yr 1.For years 2015 through 2017, first-year bonus depreciation for these items was set at 50%.It was scheduled to go down to 40% in 2018 and 30% in 2019, 0% in 2020.But then the Tax Cuts and Jobs act moved this percentage to 100% from 2017 to 2022 and 80% in 2023 and 60% in 2024.Its not uncommon to allocate 30% of an asset cost to items that can be depreciated on a 15 year or faster time frame.So now 60% of that 30% of your asset's cost can be depreciated in the first year, excluding land.Pretty great.This is how real estate owners, investors, and operators make millions and pay very little in taxes compared to W2 employees.They pay even less and can offset other types of income if they are an RE Pro.

9 November 2024 | 1 reply
Purchase price: $55,000 Cash invested: $60,000 Sale price: $245,000 Property is on the market right now.

11 November 2024 | 13 replies
I've been waiting for this property to come up for sale.

8 November 2024 | 3 replies
Your intermediary must be in place prior to the closing of the sale to provide the proper documentation.

10 November 2024 | 9 replies
When I added all this up, it was going to cost $150k in a neighborhood where sales comps trade for $100k per unit.

9 November 2024 | 5 replies
Here’s a tip: Lowes usually has zero-interest financing sales 2 or 3 times per year.