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9 January 2025 | 46 replies
This does only apply to residential properties, so commercial and raw land can still be assigned the way it used to be.
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20 December 2024 | 27 replies
You can only play games for so long.Chances are your next door neighbor is an IRS agent and turns you in when your tenants blocks their drive or some other random event disturbing your IRS neighbor.ADU catches fire and your insurance won't cover you, because it was an illegal and unpermitted structure.The city inspector told the last guy not to build or rent it, and is now pissed and wants to make an example of you and just red tags the whole property and no one can occupy for the next 1-2-3 years while you wait for a hearing.Then when you get the hearing, "staff" recommends you tear the whole structure down, and if you still want an ADU, you can apply for a permit and rebuild it.Your tenant quits paying rent and won't move out and you can't evict them, because there is no valid lease and they're just your "roommate".Probably a dozen other bad things can happen to you when you do stuff like this.
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6 January 2025 | 25 replies
That's a lot of advanced education you got to not apply to good use.
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18 December 2024 | 6 replies
When you do that groups of people will apply, rather than random individuals.
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24 December 2024 | 9 replies
Before you can tell, you need the answer to a lot of different questions and then know how to apply them:What is the remaining term of the assumable financing?
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18 December 2024 | 13 replies
couple of bullet points to bring up:* she's on M2M* I told her on 12/7 of the new rent which would apply to a new Jan. 1 effective lease, this is when I got the "I'm moving out" message* Sent her the move-out letter on 12/11, with options for her to either be moved out by 12/31 (she's fully paid up for month of December) or by 1/11 (30 days from date of notice) and pay a pro-rated rent based on her CURRENT rent amount. her choice, either is fine with me.With all that said, I'd love to do as you mentioned and post a notice on her door.
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19 December 2024 | 5 replies
Additionally, the right of redemption only applies if the property was owner occupied during the 90 days prior to the sale and this is not the case here.
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19 December 2024 | 12 replies
These expenses can create a paper loss, which may offset other passive income or carry forward to future years.If you qualify for Real Estate Professional Status (REPS) or actively manage a Short-Term Rental (STR), the losses can be applied against your active W-2 or business income, reducing your overall tax liability.
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21 December 2024 | 10 replies
Contingency:No need to go through the same process to illustrate contingency but contingent funds can be applied to the loan interest example above.
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17 December 2024 | 36 replies
I'm currently applying for a Special Use Permit (SUP) to build an 8-unit residential building.