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20 November 2024 | 6 replies
Not as walkable, however, as some of the neighborhoods that you have referenced here.
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20 November 2024 | 13 replies
Hey @Ana Mills, this ultimately depends on what your current portfolio looks like, your entity structure, and your plans to scale or not.If you have a few STRs and no plans to grow, it's beneficial to have separate bank accounts and credit cards for each property.If you plan to scale to 10+ properties and hold each property within it's own entity, maybe just a checking account per entity and keep some credit cards at the holding company level.
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19 November 2024 | 4 replies
Because I park it at home and we cant have a business vehicle parked at home .
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19 November 2024 | 12 replies
You want to properly classify transactions such as Contributions/distributions if they are between the entity and the owner itself.If the entities are not direct owners, you have have a Due to / Due From to properly keep track of money owed between the entities.Best of luck!
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21 November 2024 | 7 replies
The only way you can break that log jam right now is severely lowered fed rates, but the level of federal debt is such that they're in a no-win situation because there's going to be little appetite these days for buying 1% fed notes from overseas.The fed rates were kept too low for too long.
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19 November 2024 | 23 replies
(Making judgements based on family status, number of kids, medical animals, etc etc..)4) When you get that first repair call 10pm Saturday night for a leaking roof or water heater do you have a trusted/dependable guy to call and get it fixed that night?
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25 November 2024 | 6 replies
Not sure what suburbs you are referring to, but I have a lot of clients that are very successful investing in areas like McHenry, Woodstock, Elgin, Antioch, Mundelein, Belvedere, etc.
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20 November 2024 | 4 replies
Do you have a strong lease that you understand and can enforce?
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19 November 2024 | 8 replies
Also for some lenders this has to be cash or if a HELOC is used, they will require the HELOC to be repaid at closing of the delayed finance.
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19 November 2024 | 12 replies
The passive losses will be valuable when you sell a property assuming it’s sold at a gain and you don’t want to do a 1031.