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22 October 2020 | 9 replies
@Christopher Brown the question of legal entity is (obviously) a legal question, and if you're going to do real estate you'll need to form a relationship with a real estate attorney anyway, so I'd recommend you find a good real estate attorney (I can recommend a few in RI if you don't know any) and ask her/him.As a "general rule", for an active business with earned income such as wholesaling, an S corporation (either an actual corporation or LLC taxed as an S-corp) is commonly recommended, and a flow-through entity such as a single member LLC, partnership LLC or trust is commonly recommended for holding rental properties (rental income).There are subtleties between the right entity for legal protection, and for tax effectiveness, and the right answer for you and your situation might not be the right answer for someone else, so it's really a good idea to consult with an attorney and tax advisor about your specific situation and plans.
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17 October 2020 | 6 replies
Escalation clauses have become much more common recently due to the extreme lack of inventory.
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28 October 2020 | 11 replies
It's actually very common for an owner of an investment property to sell mid-lease.
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18 October 2020 | 4 replies
Same for most common structure repairs.Also, not knowing the tool, where does it get the costs?
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20 October 2020 | 6 replies
In texas for example we commonly see 115-140 per foot for insurance value.
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17 October 2020 | 0 replies
We are looking for insight regarding calculating depreciation/wear/repair costs of common use items (refrigerator, freezer, W/D, gas fireplace, A/C, furnace, oven, stove, dishwasher, water heater, water softener, etc.).
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28 October 2020 | 14 replies
If there is a defect during the sale process (which is common), the court will protect everyone else before the buyer.
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19 October 2020 | 8 replies
Yes the MLS does have these search tabs but I wasn’t sure if it was common for agents to code the listing wrong.
22 October 2020 | 9 replies
All other lines (common to other neighbors) have metal fences that match the county maps (and google).
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19 October 2020 | 7 replies
Most will not include 3-4 people on 1 lease.Rental History - Since you don't have any most landlords will require a co-signerThere are other situations you may run into as well, however, these are pretty common for someone in your situation.