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23 February 2025 | 4 replies
When we sold the house for a large profit, it was difficult to determine who got what profits and the CPA struggled to navigate how to file taxes since I lived in the house for over two years.
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22 February 2025 | 8 replies
Once you retire the title and place a mobile home on its own lot then our county taxes as real property and we pay property taxes like a stick built home vs a mobile home in a mobile home park which is taxed like a car - vehicle tag.4.
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12 February 2025 | 12 replies
@Kelly Taylor who doesn’t like tax free atm withdrawals?
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21 February 2025 | 26 replies
There are lenders who even if you haven't filed your taxes can use the income to offset your PITI, which should barely raise your DTI, especially in the type of example that you mentioned.
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19 February 2025 | 17 replies
Using Zelle, CashApp, etc. makes your taxes harder and it's all not in a system.I agree, EXCEPT for the automatic payments.
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9 February 2025 | 2 replies
Quote from @Stuart Udis: @Robert Ellis In order for the QOZ investor to reap the tax benefits the hold period has to be longer.
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16 February 2025 | 26 replies
The taxes are higher, the properties are older, however we account for those issues.
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22 February 2025 | 0 replies
There are monthly mortgage, taxes, HOA dues and insurance expenses each month, however this still generates great cash flow every month.
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5 February 2025 | 5 replies
Your not correct under many different circumstances.First property tax is 1.1% (fairly safe) with 2% annual increase (prop 13).Next expenses include a lot more than property tax and interest.
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15 February 2025 | 2 replies
I highly recommend you study this, practice it, and apply it.https://www.biggerpockets.com/blog/rental-property-cash-flow...Property Details:Type: Single-family homePurchase Price: $289,900Down Payment: 20% ($57,980)Loan Amount: $231,920Interest Rate: 6.85%Loan Term: 30 yearsMonthly Mortgage Payment:Using a mortgage calculator, your principal and interest will cost $1,515 per monthRental Income:Average Rent for Single-Family Home: $2,171 per monthOperating Expenses:Property Taxes: $300 per monthInsurance: $100 per monthMaintenance and Repairs: Budgeting 5% of rental income ($109 per month)Vacancy Rate: Assuming 5% vacancy ($109 per month)Property Management Fees: If outsourced, typically 10% of rental income ($217 per month)Total Monthly Expenses:Operating Expenses: $835Mortgage Payment: $1,515Total Expenses: $2,350Net Monthly Cash Flow:Rental Income: $2,171Total Expenses: $2,350Net Cash Flow: -$179 per monthConclusion:In this scenario, the rental income of $2,171 per month does not fully cover the total monthly expenses of $2,350, resulting in a negative cash flow of $179.