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10 December 2024 | 13 replies
@Sean O'Keefe I believe the study this refers to actually costs around $500, plus a few dollars to your accountant if you want him/her to walk you thru it.
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6 January 2025 | 7 replies
This is a good way to see old photos, bedroom accounts, utilities, etc.. they may also be able to help u check if it's in a flood zone.
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26 December 2024 | 3 replies
I am new to biggerpockets.com so forgive me if this has been discussed already but, does the brrrr method work when working multifamily and if so can someone send me a case study or what the difference is
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15 January 2025 | 18 replies
If you’re not using a 1031 exchange, you’ll need to account for this.Reinvestment Risk: Entering new markets and managing multiple properties may present challenges, especially if you’re unfamiliar with the areas.Alternative StrategiesBefore committing to selling, consider these options:Leverage the Equity (HELOC or Cash-Out Refinance):With a 3.1% loan, selling might not be the best first move.
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9 January 2025 | 4 replies
Here are a couple of ways you could structure the deal:Lease Option with Seller Financing: You could lease the property with an option to buy later, allowing you to rehab it while giving the sellers time to find a 1031 replacement property.Seller Financing with Deferred Payment: Structure the seller financing with no immediate payments, allowing you to refinance once the property is appraised, and the sellers can complete the 1031 exchange when ready.Escrow Holdback: Transfer the deed into an escrow account, giving you control without immediate transfer, so the sellers can take their time with the 1031.Third-Party Facilitation: Use a qualified intermediary to hold funds and facilitate the 1031 exchange while you refinance.These options allow flexibility for both you and the sellers.
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30 December 2024 | 6 replies
@Greg StrunakA good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.
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31 December 2024 | 2 replies
There are some accountants out there who say that the very act of doing a 1031 exchange is an attempt to avoid tax and so a 1031 purchase from a related party is a non-starter.
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1 January 2025 | 3 replies
It can work, but you have to really study the numbers to see what makes sense.
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9 January 2025 | 44 replies
If you had 20 years of experience, great connections in the US, and knew your market in and out then I would say you could probably leverage at a higher rate and could probably manage that risk because you have substantially decreased all of the other risks.You should really study what happened in the US during the 80's when overleverage on real estate put a lot of people in a bad spot.
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27 January 2025 | 14 replies
You can opt to automate rental payment collection so Turbo Tenant collects rent, and deposits it into your bank account.