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7 February 2025 | 12 replies
You end up having to sell to someone with higher down payments, better credit, better operating plan, and 100% investors who never want to pay top prices.
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18 February 2025 | 148 replies
Then this past February the company said that the new improved share price would not be disclosed until further notice and that redemptions would not be available until next year.
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15 January 2025 | 12 replies
I do direct booking through the Houfy website, taking credit card payment by Square.
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21 January 2025 | 3 replies
Another possibility could be a home equity line of credit (HELOC), if you have sufficient equity in another propertyGood luck with your project!
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10 January 2025 | 0 replies
When it comes to real estate, here's a general list of eligible assets and their depreciable lifespans that you should know: Residential Rental Property = 27.5 yearsThis includes any building or structure where 80% or more of its gross rental income is from residential units.That means:- Apartment buildings- Single-family rental homes- Duplexes, triplexes, and quadplexes- Mobile homes (used for residential rental)- Any kind of residential lodging facility where the primary purpose is long-term rentalCommercial Property = 39 yearsThis includes non-residential properties like:-Office buildings-Retail stores and shopping centers-Warehouses-Industrial complexes-Hotels and motels that do not qualify as residential rental propertyLand Improvements = 15 yearsThese include sidewalks, roads, fencing, some landscaping, and parking lots that are separate from the building.Personal Property = 5 or 7 yearsPersonal property used in a rental activity usually has a 5 or 7-year life.This includes most furniture, appliances, carpeting and various machinery.Qualified Improvement Property (QIP) = 15 yearsGenerally, this includes any improvements made to the interior of a non-residential building after the building was placed in service, excluding elevators, enlargements, and the internal structural framework.Computers and Related Peripheral Equipment = 5 yearsVehicles = 5 yearsNote that the land itself is not depreciable.
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19 January 2025 | 10 replies
I suggest 8% for a great credit buyer and higher for one with poorer credit.
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22 January 2025 | 5 replies
One of the key challenges I’m facing is understanding the financing options available to someone without Canadian residency or a local credit history.From my research, it seems that a 35% down payment is often required, with interest rates around 7.5-8.5% for non-residents.
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18 January 2025 | 16 replies
I apologized and said (and truly meant) I'd follow up on it and improve for the future.
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27 January 2025 | 7 replies
What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?
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17 January 2025 | 7 replies
A couple developers we work with skip LIHTC and the tax credits and go the route of impact funds to help alongside other debt and sometimes equity.