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4 April 2024 | 12 replies
Its so the State can record the improvement and increase your property taxes .I make a great living redoing work done by hacks .
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4 April 2024 | 5 replies
You need to check with your State, in Florida you will have to pay sales tax on any rental agreements of 6 months or less so check for any possible sales tax liability.
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6 April 2024 | 46 replies
They do require that a permit be acquired (super easy) and hotel tax get paid (a little more complex but there are ways to make it easy), but otherwise there are no regulations to speak of.
4 April 2024 | 5 replies
I do not want to take on capitol gains taxes and would be reinvesting all the gains on either a personal home or down payments on multiple rentals.
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2 April 2024 | 5 replies
If you're buying a primary residence, you'll likely be getting a rate in the 5-7% range depending on loan product, and whether you buy down the rate or not (think tax benefits).
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4 April 2024 | 12 replies
Everything else is in line and depends on the property you are purchasing.Price: $71,733.48County Taxes (4/24 to 7/1): $80.58County Sewer (4/24 to 7/1) $35.93HOA Dues (4/24 to 7/1) $425.60Recording Fee: $60Title Company Fee: $136So my total closing costs were $738.11 or 1.03% of the purchase price.I'll try to dig up my last flip that I did in California to give you an idea of what I paid there.
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4 April 2024 | 18 replies
My partner and I worked with tax lien and tax deed investments for a couple years (2017 - 2019) and will continue to do that on the side.
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5 April 2024 | 7 replies
We have "squatters rights" aka adverse possession laws but it's really difficult to meet the legal requirements for that: the squatter must live in the property as if it's their own for 18 years, paying property taxes, making improvements etc. and it must be open and hostile/ against the true owners wishes for the full 18 years continuously to be able to make that claim.
3 April 2024 | 4 replies
Also, there is unpaid property tax as well, will the property tax be written off or which party will be responsible for it?
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4 April 2024 | 5 replies
Is there a software out there that you use or recommend to enter all of the expenses into that will help with totaling all the expenses accurately into proper categories for year end tax stuff or by each project?