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23 July 2020 | 42 replies
Once an offer is accepted during the due diligence/ attorney review phase is when information regarding the property will become official by requesting or contingencies put in place.
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20 July 2020 | 5 replies
You can close, with her having 15-30 days to move out, for a set fee, with Specific language about what happens if she stays longer....along with a $10k or so escrowed amount in case she doesn’t.
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29 July 2020 | 17 replies
Look at your lease, if it is boiler plate lease(standard fill in the blanks), it should actually have specific language regarding the untimely demise of the tenant.
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21 July 2020 | 2 replies
We have been adding new language into our purchase sale agreements to make sure collections are maintained.
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21 July 2020 | 6 replies
So if they have officially ended their common law marriage and he is still reporting the property on the same tax return then depending on what the dissolution decree stipulated he may be able to 1031 the entire thing.If they're on the deed as tenants in common then he can do a 1031 on his portion and she could just take cash for her portion.
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11 August 2020 | 12 replies
@Daniel Soyars I think that's an awesome goal but if you can't find an actual, official mentor, many of us can "mentor" each other via encouraging one another, hanging out, building valuable relationships, etc.
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13 November 2020 | 215 replies
It’s a decade long plan that will be paid for by reducing or eliminating 1031 tax breaks for real estate investors making more than 400k a year.Quote from Bloomberg: “a senior campaign official said a Biden administration would take aim at so-called like-kind exchanges, which allow investors to defer paying taxes on the sale of real estate if the capital gains are reinvested in another property.”According to The NY Times: “Biden’s campaign said the programs, some of which would be operated with state and local officials, would be paid for by rolling back some taxes on real estate investors with incomes over $400,000, as well as by increasing tax enforcement on the wealthy.”How will this potential new policy impact you?
21 July 2020 | 7 replies
Educating on multifamily would be a good place to start to learn the language and the ins and outs.
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22 July 2020 | 1 reply
If the property is free and clear, absent some title issue that required additional work there is no justification for a release procurement fee or similar to be charged to the seller.If the contract includes language (such as in GCAAR contract) concerning “that portion of the settlement fee attributable to the seller” then this particular title company when confronted will likely change the name of this junk fee to Settlement Fee or add it to wire/courier.
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19 August 2020 | 22 replies
In all seriousness: - Many properties listed as 1900 are actually far older since assessor records may only officially go back to 1900.- There's nothing wrong with old windows with rope pulley in the walls so long as you're not paying the utilities or in there every year reconnecting the weights!