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22 April 2024 | 3 replies
Most of the time it’s much easier to close individually and then refinance into a portfolio loan if that is the goal.
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25 April 2024 | 93 replies
You can also try to rent out the rooms individually for weeknights when demand is lower, but that adds a whole nother layer of complexity and micromanagement and so and so slept in the wrong bed that’s it’s hardly worth it.So let’s say you only had 5 full turnovers at $200 a pop, for $1000 minus $550 management minus $300 bills minus $150 restocking of supplies and incidentals That’s $2000 taken out of your $5500 leaving you a $3500 profit when you could just do LTR at $3250 without adding years to your life Now if I was local, which I was at one point, I could reduce a fair bit of these expenses and improve the systems.
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22 April 2024 | 12 replies
., you sell your investment), you may be able to use any remaining suspended passive losses to offset other forms of income, including non-passive income like W-2 income.It's important to note that tax laws and regulations can be complex, and the treatment of passive losses can vary based on individual circumstances and changes in tax laws.
23 April 2024 | 28 replies
TLO is super expensive for individual searches and is still only 50-70% accurate.
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21 April 2024 | 1 reply
Interested in attending and networking with local individuals
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22 April 2024 | 12 replies
This criteria is for 1-4 and 5-8 unit programs.I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23DSCR lenders generally let you vest either individually or as an LLC.
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22 April 2024 | 2 replies
It just so happens that none of the individual expenses exceeded the $2,500 rule even though the aggregate cost to construct a set of cabinets (example) may exceed this threshold.Since 1.263(a)-(f)(6) specifies intent rather than the end result (Unless you think (6)(i) would apply), since the intent of the taxpayer was not to manipulate this election for a tax benefit, my assumption is that they would be able to expense all of the items normally.Just looking for confirmation as I'm pretty confident my understanding of the regulation is correct.
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22 April 2024 | 6 replies
I have a combination of index funds, mutual funds and individual stocks in retirement accounts and brokerage accounts.
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21 April 2024 | 2 replies
Just say all or none or sell individual and have one pickup time.
21 April 2024 | 1 reply
I'd recommend speaking with your tax advisor to discuss this further as what I said above may be outdated as I know the Inflation Reduction Act changed a lot of the energy credits for both individuals and businesses.