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21 August 2024 | 1 reply
For a Lead Safe certificate (which shows that lead dust levels are within tolerances and has to be re-done periodically, as opposed to Lead Free, which shows that there isn't any lead to worry about and doesn't have to be renewed) almost all scenarios can be remediated by cleaning or repainting (followed by cleaning, of course).
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21 August 2024 | 1 reply
@Casey HamptonThe capital gains tax scenario for selling a primary house entails excluding up to $250,000 in gains as a single filer and $500,000 as a married couple filing jointly.
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21 August 2024 | 9 replies
We usually stick to either refinishing the oak floors, which are very common in our 1960s Milwaukee housing stock, or quality LVP and LVT - especially for kitchens and bathrooms.
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22 August 2024 | 31 replies
Above is more my ideal scenario
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21 August 2024 | 3 replies
Are there any specific scenarios where you think transactional funding is more advantageous?
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19 August 2024 | 4 replies
For a fix-and-flip scenario your max loan amount would be based off your experience and can go as high as a % or purchase although it is more common to get 90% as the loan size is typically restricted by the percentage of the ARV for that program.
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21 August 2024 | 2 replies
I would like to get a fairly accurate figures for my modelThanks much Hi Marinta,For a 2 BR unit at Beach Villas @ Ko'olina, here are some expenses:Monthly AOAO Dues: Approximately $2200/mo and it includes: Cable TV, Internet Service, Other Common Expenses, Sewer, WaterElectricity: Varies but I'd estimate $200-$300/mo.Property taxes: Around $2k/moCleaning: Around $200 per cleanMaintenance - minimal as units are very well maintained.
21 August 2024 | 4 replies
also open to attorney recs who could help us with this This is pretty common, there would be a loan agreement and then a deed of trust in virginia and a mortgage recorded in florida.
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21 August 2024 | 4 replies
I think any wholesaler or rehabber who does lots of transactions really ought to consider getting their real estate license for scenarios such as these.
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21 August 2024 | 18 replies
If you’re working with a tax professional ask them to do a tax projection for you with one scenario assuming you sell all 5 today and the other assuming you only sold 2 today.With the tax projection you’ll now have a good estimate of what your tax situation will look like and can make decision based on that.Maybe you can consider selling your portfolio and doing an installment sale, this won’t help on the depreciation recapture but it would help spread the gain over multiple years.Each strategy has pros and cons, if you want to rip the bandaid off an be done cold turkey (or warm turkey if you’re into that) there most likely will be a large tax hit but less headache holding them longer.