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4 September 2024 | 2 replies
I have transferred the last month’s rent to my account and the tenant still owes most of July and full August’s rent.
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3 September 2024 | 23 replies
I had a call with an Evolve rep and they had no issues in transferring them To us.
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3 September 2024 | 0 replies
There are specific rules for 1031 exchanges including:The replacement property must be identified within 45 days of transferring the relinquished property.The replacement property must be received within 180 days after the transfer of the relinquished property or the due date of the taxpayer's tax return, whichever is earlier.Special rules apply for exchanges between related parties (defined in § 267(b) or 707(b)(1)).Real property located in the United States and real property located outside the United States are not considered property of like kind.Cost Segregation StudiesA Cost Segregation study is an IRS approved federal income tax tool that increases near term cash flow by utilizing shorter recovery periods for depreciation to accelerate return on investment.
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3 September 2024 | 47 replies
You can have both accounts for a period of time until you move everything over, then you can close your Wells Fargo accounts.Frankly, Wells Fargo has been a frustration... they won't allow mobile deposit over $2,500 and you can't send a wire transfer online for over $10K - they make you go to the branch (what a joke!!!).
1 September 2024 | 5 replies
I purchased a duplex in California with tenants in place. Seller disclosed leases and may have kept half of deposit. The lead agreement I received shows see original lease for amount t of deposit. I didn’t read this s...
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6 September 2024 | 24 replies
Buying a new, or nearly new property, even when at a 10% premium to the market, typically allows for higher rents to be achieved, provides for warranty transfer on items like appliances, roof, windows, and general construction, and prevents cap ex issues to impact annual ROI for the first 10-20 years.
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3 September 2024 | 7 replies
We did title one account in the name of the trust but the rest are basically left with the trust being the beneficiary transfer on death.
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3 September 2024 | 17 replies
Don't get too caught up in it however, as a lot of them have APIs to transfer properties over if you want to jump later on.Food for thought: some of these platforms have a minimum for units.
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1 September 2024 | 9 replies
Transferring an asset to an LLC is possible, but as mentioned, it could trigger a Due on Sale clause if you have a mortgage.
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1 September 2024 | 2 replies
I told the tenant that I will be allocating their last months rent, that was transfered from the prior landlord, for the month of September and served the tenant a 30 day notice to quit (no cause).