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15 November 2024 | 6 replies
Quote from @Clarissa Finks: Software is a common question on BiggerPockets.
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20 November 2024 | 11 replies
@Stephen Hood your idea is solid and shows good potential, but here are a few things to consider:Private Lender Terms: Ensure the lender agrees to the 1% origination fee and $2K monthly payments—some may require a higher interest rate or balloon payment at the end.Timeline for Sale: Factor in potential delays with selling your current property or completing renovations on the new one, as these could impact your refinance timeline.Refinance Feasibility: Confirm with lenders that refinancing at $500K is realistic, especially after recent rate increases and appraisal expectations.Exit Plan: Have a backup plan in case the market shifts or repairs take longer than expected, such as extending the private loan or bridging with a HELOC.If you can lock in favorable private loan terms and stay realistic about costs and timelines, this could work well.
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22 November 2024 | 28 replies
Biggest thing would be to confirm the loan amounts and if they will lend to that particular area (being keen to make sure its not rural).
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22 November 2024 | 24 replies
They will also know any reasons why it could be a problem or confirm that it can be done in your situation.
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19 November 2024 | 6 replies
Confirm with your CPA that any excess loss was reviewed for NOL calculation and properly carried forward.
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19 November 2024 | 5 replies
No tax attorney is needed, perhaps a CPA to confirm your basis and what your exchange would look like and if there are any potential tax implications with this sale.2.
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15 November 2024 | 5 replies
Some software are using AI to automate but Stessa Pro could not even set rules for assignments.
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16 November 2024 | 21 replies
The simplest thing to do (at the risk of sounding like I'm teaching how to cheat) is to check the "material participation" box when entering a K1 into your tax software.
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14 November 2024 | 25 replies
If you're okay with not having any of those, then hey, they're an amazing free option that your tenants will like.Landlord Software: Software and platforms designed specifically for landlords and typically have more than just rent collection.- Pro's: Additional functionalities, such as tracking maintenance, automated bookkeeping, screening reports, etc.
19 November 2024 | 15 replies
Contact your insurance company and confirm that your policy covers mold.