
10 December 2024 | 25 replies
Focus on finding a real estate tax strategist who specializes real estate taxation, cost segregations, tax planning and financial planning.

14 December 2024 | 0 replies
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

18 December 2024 | 24 replies
We don't have the Midwest weather, high property tax, old homes, high insurance, high maintenance, or state income tax.

16 December 2024 | 6 replies
@Richard Benjamin Wilhite, @Bill B.makes some good points about loan terms and the strict identification rules for a 1031 exchange.I would add from a tax mitigation perspective that buying the largest property possible will give you the greatest amount of cost segregation possibility and at the lowest cost since it would be one study rather than several.

16 December 2024 | 19 replies
Basically all rentals, even ones owned under LLC, come up during loan DD as long as you file them under one tax return as personal, that was what happened to me earlier.

17 December 2024 | 7 replies
If you need financial help, ask under the "Finance, Tax, and Legal" forum.

17 December 2024 | 1 reply
Details on the duplex:Price: $385kBuilt: 2012Size: 2674 sq ft (1333 each side). 2 story, 3B/2.5B each side w/ 1 car garage & driveway for both, fenced backyard both sides.Interest: 5.49%PITI: $2,698Current Rent: $1,350 but could be brought up to ~$1,600, maybe $1,700Yearly Property Tax: $8,340 (I don't pay any on my side while I live there so $4,170)Upgrades: Vinyl floor in kitchen of both units, new AC (central HVAC) on vacant unit, roof done 2016.

17 December 2024 | 8 replies
While many of these issues are important considerations and should not be ignored or overlooked, there are other more crucial criteria that you must question and evaluate first.The critical risk criteria that you must review and evaluate prior to making your final decision on which 1031 Exchange Qualified Intermediary to retain includes, but is not limited to, the following areas:Technical capability of the 1031 Exchange Qualified IntermediaryInternal processes and audit controls to safeguard your 1031 Exchange funds and assetsUse of Qualified Trust Accounts or Qualified Escrow AccountsDecision criteria and guidelines for investment of your 1031 Exchange fundsProtection from potential errors or omissions by the Qualified Intermediary (E&O Insurance) Protection from potential theft or embezzlement of 1031 Exchange funds (Fidelity Bond) An experienced and professional 1031 Exchange Qualified Intermediary will understand these concerns and should be happy to discuss these crucial issues with you.

15 December 2024 | 8 replies
Lien, State Tax Lien, Fed Tax Lien.

20 December 2024 | 5 replies
Start small with one property, choose a strategic location, stay transparent with lenders, and ensure tax compliance.