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19 August 2024 | 6 replies
You might add the weighted interest you are currently paying, to see if you actually save money by refinancing your primary.For your 1st investment property, if you want to do a cash out Refinance on a DSCR type loan, you will need to get a minimum loan of $70,000, at 6.6%, you would need to have the property rented for a minimum of $900/mo, assuming taxes are about $2k/year, and Insurance is $750/yr.
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18 August 2024 | 3 replies
Work that my accountant did to clean up my Schedule E.
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20 August 2024 | 10 replies
You e definitely put my mind to ease.
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20 August 2024 | 11 replies
My e-commerce shops have all tanked.
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18 August 2024 | 3 replies
Quote from @German E.: @AJ Wong thank you for a nice overview of the DSCR option, I didn't realize rates were so low for this option.
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19 August 2024 | 7 replies
Quote from @German E.: Congrats @Jonathan Joyce for a killer 2.25% mortgage rate on your primary residence - I would definitely not touch it.
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17 August 2024 | 2 replies
Since you're in Atlanta, you’ll need to file both federal and Georgia state corporate taxes.Deadlines:Federal: Typically due by April 15 (if your fiscal year ends in December).Georgia State: Usually aligns with the federal deadline.Penalties:Federal: Late filing can result in a 5% penalty per month on unpaid taxes, up to 25%.State: Georgia also charges penalties and interest for late filings and payments.Filing Options:Federal: You can file using the IRS e-file system or tax software like TurboTax Business.Georgia State: You can file online at the Georgia Department of Revenue’s website.If you’re pressed for time, file for an extension to avoid penalties!
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18 August 2024 | 4 replies
Yes if she has MAXED out the Reverse Mortgage Loan Advances and the property value is < LESS than what she owes (primarily due to poor upkeep and ongoing maintenance) - she gets NO More MOOLA $$ from the lender but then they may have trouble getting their loaned MOOLA E$$ back in the future IF or WHEN that time comes for her to go to that great BIG escrow in the sky.
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17 August 2024 | 20 replies
The rental profits from your own property will be schedule E (lower tax), the profits from your property management company will be schedule C (higher tax).
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17 August 2024 | 12 replies
My attorney said that a real signature holds more weight always.