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21 April 2024 | 22 replies
Their neighborhood selection process is key in affording investors a home in an area that instantly produces positive cash flow and high probability to earn above average market appreciation over the long term.
21 April 2024 | 29 replies
It cheapens the process for me.
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19 April 2024 | 1 reply
I wanted to connect with people to discuss lessons learned and how I can go about navigating the permit process with zoning/planning and the building department.
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17 April 2024 | 13 replies
My company does the following:• Free and simple MLO Licensing (22 hours online or in person and you choose your schedule)• Mortgage team to handle the backend (meaning, no structuring, underwriting or processing loans) • Competitive mortgage rates backed a company with 20+ years in the business• Downline revenue stream on the lending side (similar to EXP model.)• They do not have to change brokeragesIn my mind, there aren't many cons to this.
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20 April 2024 | 33 replies
It forces users to manually split mortgage payments into various components every month, has a painful process to start new mortgages and close out existing ones, and generally has a miserable process for handling everything around loans and amortization.
19 April 2024 | 10 replies
The decision to use Schedule E or Schedule C for reporting rental income from house hacking can depend on various factors, including the nature of your rental activities and how you've structured your rental business.Schedule E is typically used to report rental real estate income and expenses for individuals who own rental properties as investments or passive income sources.Schedule C, on the other hand, is used for reporting income and expenses from self-employment or business activities, including activities that are considered to be actively managed.The interpretation of the tax code and the determination of which schedule to use can vary based on individual circumstances and the tax preparer's expertise.Your tax preparer may reference relevant sections of the IRS tax code, such as IRS Publication 527 (Residential Rental Property), IRS Publication 334 (Tax Guide for Small Business), or other applicable publications and regulations.Factors that might influence the decision include the level of involvement in managing the rental property, the intent to generate passive income versus active business income, and the structure of your rental business (e.g., sole proprietorship, partnership, LLC).Ultimately, it's essential to work with a tax advisor or accountant who understands your specific situation, goals, and the nuances of rental property taxation.
18 April 2024 | 2 replies
Any inputs on how to make my offer appealing and how to structure the deal?
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18 April 2024 | 4 replies
Hey @Craig Simak, are you looking for an attorney to conduct real estate closings, someone to help with entity structuring, someone skilled in landlord/tenant law, or something else entirely?
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19 April 2024 | 19 replies
As someone looking into real estate investing (currently trying to find an affordable multifamily to house hack), it seems like its going to be difficult finding funding as most properties that aren't in complete disrepair are close to 200k, and dealing with the properties that do even fall below 110k seem like giant investments in terms of how much work, structural and big ticket fixes, where losing money on a deal seems much more possible than making money.
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18 April 2024 | 5 replies
You do, however, have to pay a lot to prepare tax returns once you have a corporate structure, which can lower returns a lot.