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3 April 2024 | 3 replies
If don't do a 1031 exchange and decide to pay capital gains, I would have about $450k free of taxes (this accounts depreciation and other costs).
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3 April 2024 | 83 replies
The Appraiser is trying to perform a job and has a schedule.
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3 April 2024 | 19 replies
Guesty is primarily a channel management software you can use for scheduling, managing your bookings and communicating with team members such as cleaners.
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3 April 2024 | 8 replies
And in a 1031 exchange the tax payer has to stay the same.
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3 April 2024 | 19 replies
I would look into getting a registered agent address lots of offerings for this type of service it will help a little with privacy and peace of mind but you can and will be found...For example my county took out the name search for property records but if you go to the tax claim bureau site you can still easily search by name and business name.
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3 April 2024 | 0 replies
I am curious if the fees I am being presented are in line with market norms:lender app fee: $10,000Origination fee 1% ($20,000)Lender costs: shows a fixed amount at $10,000processing fee $895registration fee $10,000Title and escrow fees: $4,000 est.6.5% rate fixed at 10 yearsPrepayment Penalty: Yield Maintenance months 1-114 (1% minimum)Third Party ReportsApppraisal Required Engineering Required Environmental N/A Seismic Report N/A Market Study N/A Funded EscrowsReal Estate Taxes Required Prop/Liability Insurance Required Special Assessments N/A Ground Lease N/A Replacement Reserves N/A Required Repairs TBD Debt Service Reserve N/AWould love to hear your thoughts on this as well as what you think is appropriate fees for the freddie mac sbl program.
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4 April 2024 | 11 replies
So you’re going to have utilities, a year’s insurance, taxes, mortgage payments and then the rehab cost.
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1 April 2024 | 1 reply
Looking at it as one big project or would I have to claim the gain of the first parcel on 2022 taxes and second parcel on 2023 taxes (Split cost of 20 acres in 2 and show a gain for each parcel sold) ?
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4 April 2024 | 5 replies
Here is my expected cost:Land: $475kAcquisition Costs (Environmental, Survey, Geotech, Traffic Study): $25kSoft Costs (Engineering, architect, impact fees, permit, legal, closing costs, taxes, interim interest): $300kSite Development Costs: (Earthwork, underground utilities, curb cuts, fencing, stormwater, paving, landscaping): $800k ($400k/acre)Subtotal before vertical costs: $1,600,000 ($80/SF).
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1 April 2024 | 10 replies
Assuming a 30% tax on the gain, I am ballparking that benefit to be a $480k tax shield for the children.However, the owners would prefer to sell now.