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3 February 2025 | 3 replies
but keep in mind CA has higher taxes and reg fees and I’m not doing more than 1-2 flips (short timeframe flips) a year and many years do 0 flipsDo most flippers put flips into LLC Or in personal name (sole proprietor) in CA (where you must pay $800 yearly plus accounting and other fees $300to $600+ yearly to maintain LLC) Pros for personal name-save on taxes accounting.
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21 January 2025 | 6 replies
Remember to save some money for capital repairs.
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10 February 2025 | 3 replies
Almost all lenders accept monthly payments on line.
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12 February 2025 | 12 replies
I personally use Quickbooks online and have a virtual (remote/nonlocal) bookkeeper.
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29 January 2025 | 22 replies
There's a self-proclaimed Section 8 guru online who claims he hires random property managers through this website called Thumbtack.
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20 February 2025 | 11 replies
Great insurance agent, great realtor, great lender, great attorney, great title people great trades and others.A great realtor can save you time, money, frustrations, headaches, and keep you out of a lot of trouble.
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23 February 2025 | 3 replies
This means that when you sell the property, your adjusted tax basis is lower, which increases the capital gain you must recognize.Additionally, any accelerated depreciation taken is subject to depreciation recapture at a higher tax rate (up to 25% for real estate assets) rather than being taxed as long-term capital gains.So, while cost segregation provides significant upfront tax savings, it also increases your capital gains tax liability upon sale unless you use a 1031 exchange or other tax-deferral strategies.You can find your current tax basis by reviewing your depreciation schedule (Form 4562) and prior years’ tax returns, specifically looking at your adjusted basis on Form 4797 (for sales of business property) or Schedule D (for capital gains and losses).Your CPA should be consulted prior to making any decisions.
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12 February 2025 | 0 replies
Additionally, investors should monitor local markets carefully—new supply is coming online, particularly in the multifamily space.
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11 February 2025 | 7 replies
Since she didn't disclose this dog to you when she applied (even if she's not required), most likely she just has a pet that she's trying to pass for an ESA with a print-out from one of those online "ESA letter" mills.
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19 February 2025 | 5 replies
Low on capital at the moment so rebuilding savings to hopefully continue growing my portfolio.