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11 March 2024 | 10 replies
No lawyer...I want to know items like:RE commisiion including buyer's agent commissionAny agency fee?
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11 March 2024 | 25 replies
It's not 2021 any more, at this point most things you can make up out of thin air, some lender will do.The question is if you want to pay the corresponding rates and fees....
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12 March 2024 | 4 replies
.- Explore strategies like 1031 exchanges to defer capital gains taxes.Deductions and Expenses- Know eligible deductions: mortgage interest, property taxes, insurance, maintenance, and management fees.- Maintain detailed records of all real estate-related expenses.- Use cost segregation studies to expedite depreciation of your properties to offset large income gains.Entity Structure- Choose appropriate legal structure (LLC, partnership, or S corporation) with consideration for different tax implications.Tax Credits- Explore available credits, like energy-efficient or historic rehabilitation credits.Qualified Business Income (QBI) Deduction- Check eligibility for QBI deduction, providing up to a 20% deduction on qualified business income.Record Keeping- Keep accurate and organized records for tax compliance and audits.State and Local Taxes- Consider varying state and local tax implications, including property and income tax rates.Tax Planning- Engage in proactive tax planning, consulting with professionals for a comprehensive strategy.Tax Changes- Stay informed about changes in federal, state, and local tax laws affecting real estate investments.Remember to consult a real estate tax professional for personalized advice based on your specific situation.
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13 March 2024 | 8 replies
I have refinanced several times and it is pretty much the same financials as the original loan.
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12 March 2024 | 7 replies
Originally posted by @Didier Bizimungu:Here you go: https://www.biggerpockets.com/forums/432/topics/727277-here-it-is-my-personal-direct-mail-letterThis is exactly what I was trying to find!
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11 March 2024 | 4 replies
You will usually get mailers from attorneys that do this yearly they will take a fee based on your savings.
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11 March 2024 | 4 replies
The closing costs and fees seem very high.
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12 March 2024 | 75 replies
You will be hit a 6% agent fee. $420,000 sale price is a $24,000.
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12 March 2024 | 3 replies
Speaking from private/hard money terms, the loan would most likely be considered a delayed purchase if less than ~5 months depending on the lender, and no financing was used on the original purchase.