26 November 2017 | 8 replies
payment => closingvesting => deed recordingsorry for the confusion, english is obviously not my native tonge.So, in short, the consensus among the answers seems to be that the date of the actual transfer of funds is the reference date and not the date of the deed recording, nor the purchase agreement date
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27 November 2017 | 4 replies
I like this choice because you can see who people recommended and who they decided to go with based on their interactions among the many CPA's(depending of if they shopped around).
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1 December 2017 | 13 replies
If it's a turnkey property that already has the brushed aluminum oven, fancy new fridge, etc etc, then it's more likely that the rate buydown will be among the more solid possibilities.
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10 December 2017 | 15 replies
Also think about other small things that can make your house stand out among the competition.
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6 December 2018 | 3 replies
The year of your 1031 exchange your accountant filled out the form 8824 with your 1040 which reported the 1031 and allowed to allocate basis among the 8 and set up new depreciation schedules.
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18 April 2018 | 11 replies
I received some initial information from him, but we are going to discuss price and other questions I have then.Here is what I know:20 pad site9 lots rented (8 lot rent only, 1 park owned)city water and sewer (a rare find for rural Maine)lot rent is $250Water is not separately metered, but is split evenly among the tenantsYes, vacancy of pads is high, but I think over time I could fill these.
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19 March 2018 | 9 replies
Hi Harjeet, so it is not true that the interest rates are fixed among the lenders if I am using FHA loan?
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21 March 2018 | 2 replies
@Alfred LittonLLC's are considered pass-through entities so the income/losses earned by the LLC are allocated among the members of the LLC.Ex - LLC earns $50,000 of income where the LLC is owned by 2 members owning 50% in the profit and loss of the LLC.The members would then report $25,000 on each of their individual return.The members report the income regardless of whether the LLC distributes money or not.A couple of things you may want to look into.1) Are you required to file a partnership return?
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7 September 2018 | 8 replies
The proper procedure to implement rental restrictions is to amend your declaration, which will include notice to, and voting among, the unit owners.
6 April 2021 | 8 replies
In your case, you should be able to because I am sure you dont have a separate bill under a partnership name or partnership is not earning interest in its own bank account and so forth.But your argument loses some strength where it is clear that the investors have jointly negotiated the terms of the transactions and would be unable to separately use their interests in the property without significant cooperation and joint efforts among the co-owners.