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7 January 2025 | 3 replies
Always consult with your attorney before you rely on the above information.
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19 January 2025 | 14 replies
As I'd imagined, it seems like there are no hard-and-fast ways that a deal must be structured, but rather there is room for flexibility depending on the situation, and in any case consultation with experienced professionals at every level is key.
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6 January 2025 | 6 replies
From personal experience, this can motivate them to do a final deep clean before handing over the keys.Finally, for peace of mind, you might consider consulting a local real estate attorney.
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11 January 2025 | 7 replies
This requires an independent appraisal valuing the property at $400k and proper documentation from the seller confirming the $200k donation.Ensure the church is a qualified 501(c)(3) entity, and consult your tax professional to comply with IRS rules.
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9 January 2025 | 8 replies
You will want to consult with a lawyer.In regards to your last two questions here's some background on what makes a contract valid and enforceable:Offer: A promise to do or not do something within a certain time period Acceptance: A clear and direct statement that all terms and responsibilities are accepted Consideration: A legal and adequate inducement given in exchange for the promise Capacity: The parties to the contract must have the legal capacity and competency to contract Awareness: A party must be aware of the contract Legality: The contract must be legal in the jurisdiction it will be operating in***Not legal advice*** Steps I would take: -Review contract in detail to understand each counterparties responsibilities (if you are not aware)- Email a copy of the lease to each of the tenants listed on the lease and reiterate lease expectations for termination notice, rent payment etc. - If the lease was signed via Docusign (other esign may have same ability) - you can go to the envelope, go to history and view the IP addresses for each action taken.
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9 January 2025 | 46 replies
This year will be the most I have paid for my taxes to be prepared, and the only year where I will be filing with an extension (and added stress).To be fair and objective with my feedback, the upfront consultation process went well.
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7 January 2025 | 3 replies
If you must retain some cash, consult a tax advisor to understand the liability and optimize reporting.
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15 January 2025 | 13 replies
Consultants, inspectors, and mentorsProperty managersAssistantsBookkeepers, accountants, and attorneysLandlords if you rent your office spaceYour business partners if you paid them (except if they were strictly lenders)Disclaimer about wholesalers: it is a controversial issue, with some of my colleagues claiming that wholesalers do not need 1099s.
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8 January 2025 | 10 replies
Oftentimes my initial consultation call with a potential client runs 1 hr and that still doesn't give me enough time to cover everything about the STR market on O'ahu. 1.
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12 January 2025 | 6 replies
Be patient, as these types of deals often take longer to finalize due to organizational processes.If you’re unsure about specific aspects, consider consulting with a local real estate attorney to ensure everything is handled legally and ethically.