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12 January 2025 | 185 replies
But also lawsuits up the ying-yang that appears to keep loosing.
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12 December 2024 | 5 replies
(The other scammers are from posts here on Bigger Pockets from people with similar situations as mine) McMann Commercial Lending, Walter Trock & Michael LanzaGenie Investments - David Hughes and Mike ConnerSilversky capital out of Lubbock, TX.Jerry Yang and Guatam ShahSmartZip - Smart ZipAmerican Money Loan ServicesTom Vanderlaan.FLIP AND FAST LOANS LLC.Also read this post.
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1 December 2024 | 377 replies
Sooooo... conservatively, call it 750k in equity.I'm still 100% lost how it is possible - within the span of less than a year and a half - to turn 200k into 750k in equity, unless your portion is levered out the ying-yang.
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17 November 2024 | 30 replies
As your Modified Adjusted Gross Income (MAGI) increases, the amount of rental losses you can offset against your ordinary income phases out.
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13 November 2024 | 22 replies
If you have pre-tax and post tax Roth funds in the existing 401k, you will initiate a rollover into a newly formed Solo 401(k), with some funds dropping into the pre-tax bucket and Roth funds dropping into Roth bucket. 3) 3 benefits that I find many real estate investors are attracted to with the Solo 401(k): 1) Higher Contribution Limits (providing you have enough earned income) 2) Ability to contribute to Roth, without MAGI limits where you have to do a backdoor contribution, like you do a Roth IRA. 3) Exemption from UBIT/UDFI on debt financed real estate deals, this could be directly, or through a syndication type deal. 4) Now, we can proceed with, what about the caveats and qualifications to open and maintain a Solo 401(k): 1) You need to have earned income from the business/sole prop. that is sponsoring the Solo 401(k).
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16 November 2024 | 21 replies
You cannot offset nonpassive income with passive income unless you are REPS or you make less than $150k MAGI because there is a special $25k PAL allowance
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4 November 2024 | 10 replies
@Lue Yang FHA will give you the lowest downpayment with you being a nonoccupant coborrower.You can also do conforming, but downpayment will be 20-25%.BTW - if you find a property that needs repairs, you can look into an FHA 203(k).
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29 October 2024 | 21 replies
I like to call this a nice safety net for those that our younger and looking to save but fear locking up all their capital. 2) Keep in mind to contribute directly to a Roth IRA, you need to be under the Modified Adjusted Gross Income (MAGI).
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23 October 2024 | 3 replies
Quote from @Daniel Yang: Hi, if I have an existing contract with a voucher tenant and want to request a rent increase, what should I keep in mind that would cause the reasonableness rent to be lower?
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18 October 2024 | 16 replies
If your modified adjusted gross income (MAGI) is over $150,000, you typically can’t use rental losses to offset W2 income.But you can still use depreciation to offset the rental income itself.