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19 January 2025 | 55 replies
Have filed it everywhere, currently my local sheriff is working the case.
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16 January 2025 | 3 replies
For us, we have insurance on it and found it easier to keep in the trust vs. llc and have to deal with state filings etc.
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15 January 2025 | 11 replies
But make sure you make a file labeled "why I intended to hold this and what changed".
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15 January 2025 | 9 replies
It depends what basis you are filing under.
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17 January 2025 | 2 replies
This allows for proper retirement of assets.If a property has already been sold it may still be a good candidate for cost segregation as long as you sold the building and have not filed the tax return.
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18 January 2025 | 3 replies
As soon as a tenant fails to pay rent, you can file a complaint without waiting 30 days or issuing a separate notice (unless your lease requires one).That being said, it could be a waste of time/fees to run to court because tenants in NJ may come even on rent (even after you win the eviction case) and then they won't be evicted: “The tenant shall have three business days after service of the warrant for removal to pay all rent due.”
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11 January 2025 | 9 replies
I'm going to reiterate what's already been mentioned above, but I'm going to actually give you examples of why it's relevant to you to find a U.S. tax professional.1 - You're going to need to file U.S. taxes once you have property down here, there's federal filings, state filings, and sometimes local filings too2 - Tons of tax treaties between the U.S. and Canada that are easy to miss and can cost you a lot of money (important one with rentals - effectively connected income - if the professional you talk to doesn't know what this is, run away)3 - The amount of days you spend in the U.S. needs to be tracked and if you go over a threshold, all of your worldwide income could be taxable by the U.S.4 - Selling real property means up to 15% of your sales proceeds might not be available to you for years (FIRPTA)5 - Lots of nuance at the state and local levels, which both want to take as much money from you as possibleMain takeaway here is that you should find a U.S. based tax person.
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27 January 2025 | 29 replies
I am expecting a day of reckoning for this model in the coming years when an LP decides to file a lawsuit based on misrepresentation which traces back to the teaching techniques of the coach/mentors who are essentially offering pay for Co-GP title courses where the students are taught they can use their GP title to raise money.
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26 January 2025 | 14 replies
File for eviction in court.There are many ways to skin the cat, as discussed in my book.
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27 January 2025 | 35 replies
They filed an eviction on a tenant mid-escrow and withheld information on eviction until I saw a posted eviction notice on the door after closing.