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23 January 2020 | 3 replies
However, you also want to be able to demonstrate that intent.Factors that would give credibility to your claim could include your normal practice, communications you had with professionals and your relatives as you were buying it, and the specific reasons that would cause you to change your intent from holding to resale.These types of things happen.
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23 January 2020 | 13 replies
I was told that I can’t claim home office deduction as an investor.She mentioned that I can only do it if I were a realtor.
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24 January 2020 | 5 replies
And as you would expect, the banks cautioned against quit claiming the property into the LLC once refinanced under a residential mortgage because the mortgage holder could call the note due to a technical change in ownership.
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23 January 2020 | 1 reply
If you have legitimate expenses from the time it was listed as an air bnb and those exceed the income you can potentially claim that loss.
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25 January 2020 | 6 replies
There are some issues with claiming the Section 121 exclusion (for tax-free profits from the sale of a personal residence), but this can be avoided if you have a single-member LLC that is disregarded as an entity for tax purposes.
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26 January 2020 | 14 replies
How long would an issue like this take to be resolved through tittle insurance, I have zero experience with tittle insurance claims, is this something they would handle right away, if I’m ready to resell the property and the lien becomes an issue.
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23 January 2020 | 0 replies
The son has been to court to contest a fake will submitted by a woman who also claimed to be the father's current wife.
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24 January 2020 | 9 replies
I feel like I am reading that you really need an additional policy that is designed for short term rentals (I know that my homeowners policy will not cover any STR related claims), but why is that the case if I have the AirBnB insurance at my disposal?
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24 January 2020 | 4 replies
This is why some investors quit claim the deed over to the LLC after setting up the loan.
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24 January 2020 | 1 reply
Assuming we have to do it that way, we intend to quit claim it into the LLC afterward (acknowledging the risk of due on sale clause).What am I missing?