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17 August 2024 | 19 replies
It had a high # of days on market and a recent price reduction that triggered us to take a deeper look.
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15 August 2024 | 1 reply
I am excited to get started and hopefully gain confidence to pull the trigger on an investment property.
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20 August 2024 | 452 replies
You would rake out the loan for the property in your own name, then transfer the property into the land trust (which does not trigger the Due on Sale Clause because of the St.
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19 August 2024 | 46 replies
The DOJ has already notified brokerages they will be auditing their records for compliance with the settlement.
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15 August 2024 | 2 replies
@Schaan Donaldson this would be a prohibited transaction and could cause the entire IRS to become a distribution triggering penalties and taxes.
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15 August 2024 | 6 replies
Property Managers can also save you time, stress and legal compliancy to maximize your investment.
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14 August 2024 | 7 replies
Companies like Wal-Mart and Jiffy Lube, as well as Realtors have already been hit with multi-million-dollar lawsuits for sending non-compliant (illegal) text messages without proper (required) consent, or opt-in.You don’t want to risk finding yourself in the same situation, which is why adhering to compliance regulations is so important, so make sure if you are using SMS Marketing for Real Estate, be sure your next campaign is compliant.https://reimachines.com/sms-compliance-for-real-estate/
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15 August 2024 | 13 replies
Any additional tips or corrections would be greatly appreciated.Example:If the PM sends an owner statement showing:Gross Rent Collected: $3,000Property Management Fee: $300Miscellaneous Expenses: $200Net Rent (Amount Deposited): $2,500In QBO, I would:Record an income entry of $2,500 for net rent.Separately, record any additional expenses paid directly, such as:Mortgage: $1,200Insurance: $100Property Taxes: $150Summary:Property Accounting: Handled by the PM company and detailed in the monthly owner statements.Corporate Accounting: Recorded in QBO, focusing on net rent income (after PM deductions) and any additional expenses incurred.Please let me know if this approach is correct and if you have any suggestions or adjustments to ensure compliance and accuracy in my accounting processes.Thanks for your guidance!
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17 August 2024 | 16 replies
Keep doing the research from now until you buy and keep saving up that money to be ready to pull that trigger.
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14 August 2024 | 11 replies
Howdy BiggerPockets Fam, I feel like I'm in a good place to finally pull the trigger and invest in my first multi-family property.