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7 February 2025 | 7 replies
Most things in relation to the rental are deductible - Mortgage Interest, Taxes, Insurance, Repairs, etcIf you are unsure of what is deductible, you may want to consider working with an accountant.
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4 February 2025 | 9 replies
@Quan Pham have you investigated at all the potential increases in property taxes and home insurance (need to have landlord policy) and included them in your cashflow calcluations?
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7 February 2025 | 2 replies
Last piece of advice is to surround yourself with quality service providers (real estate brokers, lenders, accountants, attorneys, PM's, Contractors, Insurance Brokers)., They will be instrumental to your business.Â
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19 January 2025 | 18 replies
Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).
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31 January 2025 | 22 replies
However if you had done a warranty deed (or a special warranty deed if you still have a mortgage on it) instead, your LLC has a claim against you for the issue on the title, and you in turn can go back to your initial title insurance to fix it.Some title insurance will allow to transfer the coverage to an LLC that you own 100%, but not all of them do or they may require an additional fee.
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21 January 2025 | 4 replies
Cash flow has been hampered by an increase in cost of ownership recently, specifically insurance.Â
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23 January 2025 | 11 replies
Living in one unit and renting out the others allows you to deduct 75% of expenses like mortgage interest, property taxes, insurance, and shared repairs as rental expenses, while the remaining 25% applies to personal use.
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27 January 2025 | 10 replies
I 100% endorse adding in the escrows for taxes and insurance to set the buyer/borrower up for success.Â
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3 February 2025 | 5 replies
Does anyone have any recommendations for a property manager or insurance broker?
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28 January 2025 | 1 reply
The way I interpret the following policy clause is that so long as the property is defined as other than "VACANT" which is the case when the property is being "constructed, altered or repaired", the 30-day time period and vacant status does not apply in this instance: We do not insure any loss at your premises if your dwelling has been vacant for more than 30 consecutive days immediately before the loss and the declaration page indicates an occupancy other than “VACANT“.