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8 April 2024 | 4 replies
But I think what you said is huge, be in a similar spot now in terms of paying a mortgage or rent and get nothing out of it.
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8 April 2024 | 5 replies
(I assume you owe nothing, or at least less than 50% as your mortgage will have to be paid off when you sell, not when the buyer finishes paying.)My understanding is you sell $400k property with seller financing.
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7 April 2024 | 3 replies
Since I can't find any "proper" deals I decided it's time to try new construction.
8 April 2024 | 3 replies
etc.Here are some other bullet points if you need more info:- The PA properties are owned free and clear, in my name- The PA SFH is likely to be a long term rental (renovations currently) and will net around $1,500-$1,700/month if I don't borrow against it- The NC properties have mortgages, and are held in my name- I have a lawyer negotiating the solar deal, and have not signed anything yet, but is nearly a done deal- Unsure if solar proceeds have to go directly to me, or can go to a business I own- I'm unmarried and investing by myself/no partners- W2 is between $70-$85k/year- I don't yet have an accountant, but am going to be hiring one and discussing strategy with themThanks so much for your opinions!
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10 April 2024 | 37 replies
You will need to deal with not only financial issues like inheritance taxes, IRS tax liens, etc but also potential legal issues such as interested parties not notified about the auction properly.
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7 April 2024 | 5 replies
Metal roofs are highly recommended and should last for a long time I'd want everything to be gone form the old roofing and everything inspected properly before the job gets started.
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7 April 2024 | 7 replies
We plan to use short term rentals to cover the mortgage/monthly payments but with the skyrocketing property taxes in that area, I'm concerned we may not be able to net enough.
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7 April 2024 | 8 replies
Just be ready to arm-wrestle with lazy & incompetent agents that will argue with you about your document & approval requirements.Hire a PMC:Several will do just a placement, which because they are used to properly screening tenants they will have to manage, you will benefit from.Have you fully thought this through?
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8 April 2024 | 8 replies
Given the timeline and the nature of these expenses, I'd appreciate any insights or advice from those familiar with tax regulations in such situations.Additionally, I'd like to know if I can claim depreciation, mortgage interest, homeowner's insurance, utilities, HOA dues, and other expenses associated with the rental units of my home from 09/08/2023 to 12/31/2023.
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8 April 2024 | 9 replies
You'll pull more money out, but have a higher mortgage payment and less cash flow, so it's all about what you want out of the deal.