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1 May 2024 | 3 replies
Virginia has passed a law saying wholesalers are required to have a real estate license.
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1 May 2024 | 7 replies
Fair Housing law requires you accept the child, whether naturally born or adopted.
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1 May 2024 | 4 replies
Do not provide substantial services 3. average stays of 7 days or less4. materially participate Primary Residence route:I presume that doing this route will:1) portray yourself less risky from a lender's perspective2) Less downpayment requirements.
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1 May 2024 | 9 replies
The rural one required 35% down.
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1 May 2024 | 2 replies
Given you aren't clearly a prorata split of everything (IE both names on title, mortgage, etc), Partnership treatment would be much more supportable than as a TIC.If you have an agreement in your JV that you are sharing the expenses and revenue of the venture, the JV certainly gets to claim those valid expenses, including the mortgage interest.If the property was never in service and was being renovated, that interest may not have been deductible anyways and it is possible it could have been required to capitalize it into the renovation, in which case you'll recapture it by your share of depreciation.
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30 April 2024 | 4 replies
Unit A is about 100 years old and Unit B is almost completely new.Pros:-The duplex is in a very desirable neighborhood with home value appreciation year over year at about 50+%-Rent is also in high demand within this area-Cash flows well even with high interest rates and increasing property taxes-Home is price below average cost per sq ft-The house has been renovated and some parts of it has been remodeledCons:-All issues are with Unit A, the 100 year old unit.
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4 May 2024 | 35 replies
I usually require written notice.
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1 May 2024 | 2 replies
As my wife and I are both over 45, we require a distinct approach to ensure we can retire within the next 10-15 years without having to work, particularly in physically demanding jobs, until our final days.
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29 April 2024 | 8 replies
Down Payment: Lower down payments, such as the 3.5% required for an FHA loan, let you keep more of your funds, but they also result in higher monthly mortgage insurance costs.
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1 May 2024 | 4 replies
You would have ongoing filing requirements with the State and would need to keep business records and documentation.