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3 February 2025 | 10 replies
A rent payment isn't enough to cover the DSCR payment, HELOC payment, tax, insurance, and maintenance.
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11 February 2025 | 31 replies
Yes, this is an unsexy option and it doesn't offer the same tax benefits, but you would benefit from reduced volatility (so long as you don't obsess over fluctuating stock prices), greater liquidity, stronger management teams and superior assets.
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18 January 2025 | 1 reply
Bonus - the interest on the loan is tax deductible!
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21 January 2025 | 8 replies
Hey @Nevin Wilkie. have you looked on the city or county's tax records to find the mailing address for the owner when it's different than the address of the property you want to buy?
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24 January 2025 | 7 replies
My biggest conundrum now is I want to be my own GC because even when I play with smaller numbers they’re still out of reach for me to be able to attain this goal and afford the monthly mortgage with taxes and insurance.
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11 January 2025 | 9 replies
I'm going to reiterate what's already been mentioned above, but I'm going to actually give you examples of why it's relevant to you to find a U.S. tax professional.1 - You're going to need to file U.S. taxes once you have property down here, there's federal filings, state filings, and sometimes local filings too2 - Tons of tax treaties between the U.S. and Canada that are easy to miss and can cost you a lot of money (important one with rentals - effectively connected income - if the professional you talk to doesn't know what this is, run away)3 - The amount of days you spend in the U.S. needs to be tracked and if you go over a threshold, all of your worldwide income could be taxable by the U.S.4 - Selling real property means up to 15% of your sales proceeds might not be available to you for years (FIRPTA)5 - Lots of nuance at the state and local levels, which both want to take as much money from you as possibleMain takeaway here is that you should find a U.S. based tax person.
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27 January 2025 | 29 replies
BRRRR, Fix Flip, taxes, deal analysis, market analysis, marketing, financing, etc.
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24 January 2025 | 12 replies
The units are all currently occupied right now, so we won't have to worry about the buyer's market right now haha.With the cash flow I will receive, it will be enough to take care of property taxes, insurance, and enough to save up for any emergiences with the unit that I will need to take care of, so no need to worry, I got you :)!
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18 January 2025 | 21 replies
Tax-wise, profits are taxed at your ordinary income rate, and frequent flips may subject you to self-employment tax if classified as a dealer by the IRS.
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4 February 2025 | 12 replies
In some cases interest paid on the HELOC can be tax deductible if the funds are used for home improvements.Best of luck from Fort Worth!