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27 January 2025 | 6 replies
However, if you sell instead of rebuilding, the IRS may include part of the payout in your taxable gain unless reinvested under the §1033 involuntary conversion rules, which allow you to defer taxes by purchasing a similar property within two years.If the property was your primary residence, you may exclude up to $250K (single) or $500K (married) of gains if you lived there for at least 2 of the last 5 years, likely resulting in no taxes owed.
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28 January 2025 | 12 replies
If you are looking to just calculate profitability, set how much profit you want to make then:ARV - Purchase Costs - Holding Costs - Selling Costs - Desired Profit - Rehab Budget (including contingency) = Maximum Allowable OfferIF you cannot calculate those numbers, a spreadsheet isn't going to help you.
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25 January 2025 | 26 replies
It should include the following First and last nameEmail addressPhone numbersocial media handlesNotesIn your notes section you will want to write in things like what the potential client is interested in, first and last time you corresponded with them and how you met them.
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19 January 2025 | 4 replies
We don't allow any "deal-making" in the forums, which includes advertising your services or properties, looking for partners, etc.
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22 January 2025 | 0 replies
Unlike banks, which offer limited loan options, brokers have access to a wide network of lenders, including niche and non-traditional financing sources.Here’s what they do:Assess your financial situation to determine your borrowing power.Compare multiple loan products to find the most favorable terms.Negotiate rates and terms with lenders on your behalf.Guide you through the application process, ensuring you meet all requirements.Example: Suppose you have a lower credit score or unconventional income sources.
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15 January 2025 | 1 reply
Magistrate Judge Aileen Goldman Durrett on December 4, 2024.According to information presented in court, beginning in 2017, Espinosa, Smith, and Baltazar, along with others, are alleged to have operated a mortgage fraud scheme using various companies, including Short Sale Queen, L.L.C.
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1 February 2025 | 9 replies
How much do they charge and what's included?
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20 January 2025 | 2 replies
Worth is the DFW Real Estate Investors Club...normally 2-3 hours including breakfast.
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8 February 2025 | 7 replies
Because, for instance, if I am flipping a couple of properties and I am in the middle of the rehab, but it will take a couple of months for them to get finished and sold, I may be paying $4000 on hard money debt payments per month, and if that debt is included in whether or not I will qualify for a refinance, then I may not qualify.
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7 February 2025 | 10 replies
Since rental losses are typically passive, the best way to offset W-2 income is through Real Estate Professional Status (REPS) (750+ hours) or Short-Term Rentals (STRs) (100+ hours and more time than anyone else managing the property), which allow real estate losses, including depreciation, to offset active income.A cost segregation study accelerates depreciation, generating large upfront deductions.