
9 May 2024 | 1 reply
In most cases, the lender will require the person who is providing the capital to sign for the mortgage.

9 May 2024 | 3 replies
Can be VERY dangerous for seller - seller is legally responsible for a mortgage secured by a property they no longer own.

8 May 2024 | 8 replies
- Are they properly licensed and insured?

9 May 2024 | 9 replies
Now you have the monthly payment on the mortgage for your cash out refinance. 4.

9 May 2024 | 43 replies
The capital gains you would get from selling the property go back into the IRA tax free or tax deferred, depending on if the account was a Traditional or Roth and the only time you would incur taxes is if you took the money out of the qualified retirement account and took it into your personal name as a distribution.I would never own real estate inside of a retirement account.In your situation of transferring a certain percentage of the property itself instead of cash, you would need to pay a bunch of professionals on an annual basisA) $600+ for an appraiserB) $500+ for the title company to transfer ownershipC) $300+ for your accountant to properly adjust your taxable basis for the rental activity reported on your individual tax return.D) You risk your property taxes being reassessedYou also have to properly split each expense Furthermore, since you are not receiving cash, you would need to potentially find alternative methods to find cash to pay your tax liability.Yes, you are correct, depreciation is not needed/used within an IRA.

8 May 2024 | 6 replies
Because most wholesalers have never renovated a house themselves and have never learned how to properly comp a house.2.

9 May 2024 | 12 replies
I currently reside in a higher-end condo in Orlando, Florida, and obtaining a mortgage with a sub 3% interest rate was crucial for making it a feasible investment.Allow me to share a personal anecdote that sheds light on the condo buying experience.

9 May 2024 | 14 replies
As long as you meet the seasoning requirements you should be able to qualify for a mortgage based on the As Is value.

9 May 2024 | 2 replies
Looking to purchase my first home and was initially going to go the traditional fixed rate mortgage without buying down points with the assumption rates will go down in the next year or 2 and I will just refinance.

9 May 2024 | 8 replies
Use a consistent naming convention - ex. 2024.03.25 Home Depot3 Maintain proper records - Contracts, Settlement Statements, Agreements, Promissory Notes etc.Additionally, you can track income and expenses consistently, using software or spreadsheets.As you scale, if bookkeeping isn't fun for you, consider hiring a bookkeeper for a couple hundred bucks per month.