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20 November 2024 | 6 replies
STR, MTR, it doesn't matter, you can't house people there and would be in a severe insurance liability if something were to happen in an unpermitted addition or renovation.If it was permitted, you would use Furnished Finder for MTR.
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21 November 2024 | 2 replies
. - What systems/software do you recommend to use to determine the markets to invest/buy into?
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20 November 2024 | 6 replies
If I sold, it would be 90-110K to use.
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21 November 2024 | 8 replies
Quote from @Chris Seveney: Disclosure: Yes I am a private lender but we do not provide this type of financing so I wanted to #ASKI have a client who has around $5M in real estate that has properties in GA, FL, NV and texas.
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22 November 2024 | 7 replies
Quote from @John Kelly:I would agree with @Ashish Acharya, #1 is the best answer to the question on his response in the reason it would not be good to use an LLC on a house hack until you move out of the house and call it a true rental.
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20 November 2024 | 15 replies
Very useful answer!
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21 November 2024 | 39 replies
I know this because I was once a victim of exactly this, so my knowledge is via experience.
21 November 2024 | 1 reply
Quote from @Bruce Schussler: A lot of Podcasts and Youtuber's say to cash-out refinance to keep rents balanced with payment; (PITI) then use those funds strategically to re-invest either in more real estate or just put into a high interest bearing account or money market account...Here's some of my thoughts and comparisons;Cash-out refinance with new loan so rents balance with payment:- The cash-out refinance is 100% tax free- The funds can be put into a money-market account off-setting a portion of the interest charge of loan- The loan balance gets eventually destroyed by inflation- The liquid cash eventually gets destroyed by inflation - The interest on the new loan can be deducted from the rent income- The refinance costs are 3-4% of the total- There is less equity in the property and LLC that can be attached in case of a lawsuit- The break-even on cash-out refinance with current interest costs on the new loan is around 12 years Vs.Paid-off property with positive cash flow:- The positive rent income is 100% taxable minus only depreciation and property tax- There is more equity in the property and LLC that can be attached with a lawsuit- The break even is not until after 12 years at today's interest rates- There is a rate risk in today's inflationary environment where interest rates on bonds keep rising*It appears to me that the cash-out refi is in the best interest for a property investor; (Dave Ramsey would strongly disagree!)