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15 January 2025 | 34 replies
And unlike the borrowers, who fund the whole damn thing, the investors are covered for losses.
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21 January 2025 | 31 replies
With enough knowledge you can make a educated decision on which approach you take.My experience:I personally don't sign up for any program who take you aside during events and try to sell packages that is just blatant sales strategy.Once you sign up there is every attempt to make you sign for their programs for bookkeeping, registered agent, LLC or corp setup fee which have ridiculous even with platinum membership.Basic standard structure they suggest to take advantage of multiple deductions can be easily achieved by proper education or work with a good firm like https://wcginc.com who is local to you.A umbrella C-crop to manage all other LLC properties and take advantage of many tax deductions that are not available with a llc, its also used to take losses up to 100K as startup expenses and dissolve the entity after few years.Few LLC entities for investing in Real Estate, etc preferably in Wyoming or Nevada ( you can find many companies online who can do this for $150 compared to anderson $1500-$3000) , they will claim they have a secret Operating agreement which is bogus.They certainly try to take advantage of tax loopholes and claim to be smart people, my view they are just taking advantage of numbers as per their own statements.
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13 January 2025 | 2 replies
You may want to look up Stacy Patel with Golden Handshake Capital.
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3 February 2025 | 25 replies
Honestly, I don't think you will be sacrificing a lot if you choose DSCR over conventional these days, and it will give you access to your capital/equity a lot faster.Happy to connect if it would be helpful.Good luck!
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12 February 2025 | 179 replies
If indeed a loss is taken on this which it sounds like is a fair possibility then if the agent was representing you the agents E and O will/could kick in and that's where you might get some financial relief.
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14 January 2025 | 17 replies
Working on my financial fundamentals, namely saving enough free capital to invest.
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13 January 2025 | 30 replies
But because he raised rents each year, and rents were increasing by ridiculous rates, tenants constantly moved, had to sell the property at a loss several years later due to constant vacancies.Finally, the most interesting situation I ran across was a tenant, a 93 year old tenant paying rent on a 2BR apartment for $90/month.
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24 January 2025 | 21 replies
A mortgage lender can help determine if refinancing or tapping into equity might allow you to acquire additional properties.Consider a 1031 Exchange: If you're open to selling a current property, a 1031 exchange can defer capital gains taxes while enabling you to upgrade to a larger or more profitable asset.
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11 January 2025 | 9 replies
I specialize in working with Canadians that own property down here (I live in Palm Springs, we might be the snowbird capital of the world?).