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19 March 2024 | 5 replies
I know there are pros and cons to selling my primary home to my LLC but my question really goes a little deeper than just tax benefits:I am curious to know if I sell my primary home to my LLC regardless of tax benefits; and then rent it back to myself (through another LLC) … technically I don’t have a primary residence anymore so I could buy a Multifamily or Apartment complex as long as I am willing to live in one of the units correct?
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21 March 2024 | 5 replies
If its a tax deed foreclosure that may be different as typically in most states you would have to go throught quiet title. but if its a mortgage foreclosure you should be able to get title insurance.
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22 March 2024 | 11 replies
Taxes are also always going to be a consideration, and this is an assessment year, so you should account for them going up more than usual in your projections.
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21 March 2024 | 7 replies
The property is being sold as raw land below its tax-assessed value.
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22 March 2024 | 19 replies
There was a property at the auction that sold at market, however it had a federal tax lien of over 100k attached to it.
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19 March 2024 | 6 replies
Oklahoma may require you to file a state tax return regardless of your income level.
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22 March 2024 | 22 replies
Typically, it just refers to the number of units/leases you have, not the number of tax parcels.
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19 March 2024 | 22 replies
There has been no tax benefits per se.
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21 March 2024 | 6 replies
If you are setting aside funds for capex, taxes, insurance, or other expenses that don't occur monthly, transfer those funds to Savings each month and hold them there until it's time to spend them.
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21 March 2024 | 7 replies
Given that you've owned them for almost 5 years, there is also a good opportunity to do a cash out refinance and obtain tax free money that you can use to expand your portfolio even further.