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10 January 2021 | 8 replies
If you want real help, you'd be well served by finding your own accountant to guide you with tax planning.That said, some general pointers that also may or may not be applicable to you:You usually want to separate rentals from flips, both for tax reasons and legal liability reasonsKeeping each rental property in a separate LLC is debatable; it does not usually change your taxes and is intended for legal protection which is for attorneys, and I'm not one of themDitto for trustsKeeping each flip in a separate LLC is usually counter-productive but is also case-by-caseCreating a holding company to own other LLCs may be a bad idea from legal protection angle, but it is also for attorneys and not for meCreating a management company can unify and simplify your operational procedures, depending on how you run your businessA management company can also bring certain tax benefits such as generating active income and room for retirement plans and other benefits, however you may already have this option via your existing LLC(s) involved in flippingAs you can see, there's no quick microwave recipe here.
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7 January 2021 | 0 replies
I am thinking about starting with a smaller piece of property 200ft wide by 295 long.
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23 January 2021 | 4 replies
A local bank would be fantastic if not any state wide or nation wide bank would do.
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10 January 2021 | 1 reply
And yet, there are portfolio-wide considerations that you want to take into account: Some expenses will be spread across multiple properties (for example, your BP and Rentometer membership fees, right?).
19 January 2021 | 27 replies
Eye on the prize man, you shouldn't be getting involved in your tenants lives.from a slightly different angle.
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5 October 2021 | 32 replies
We added frontdoor cameras with wide views of the driveway and street.
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19 January 2021 | 22 replies
Hampton Roads like any metro can vary widely from neighborhood to neighborhood, and in many cases street by street, with rents varying as well so just do your due diligence and make sure you are looking at all aspects of the deal!
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11 January 2021 | 14 replies
And after you have done all the calculations from every angle imaginable there is still one very distance thing you can never over come and that is the price disparity.Some will argue that the comfort is not worth it while others will argue that it is and the list of pro's can con's will only expand from there as will the arguments for and against each car.
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27 September 2021 | 9 replies
Hi BP Orlando,As most of you may know, the 1, 2, or 3% Rule (depending on where you live), is widely used to help us investors screen through rental properties.However, this rule changes depending on the market you're in.For those of you investing in the Orlando, FL, market, which number have you found to be most accurate for screening through rental properties?
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9 January 2021 | 2 replies
The few area that do allow a new build on a 25’ wide lot require the builder use one of the city approved plans which are basically pencil looking houses - very tall and skinny.