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3 July 2020 | 6 replies
So far only a few have pulled the trigger, but I believe we'll see a lot more of this in the near term.
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3 July 2020 | 4 replies
First, will your lender trigger a due on sales clause?
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4 July 2020 | 2 replies
But I dont want to risk the due on sale clause to trigger.
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3 July 2020 | 5 replies
Yesterday I received my first email from Host Compliance about paying Transient Taxes for one of my rental properties.
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4 July 2020 | 6 replies
When there are multiple relinquished properties in one 1031 Exchange the first closing will trigger your 45 calendar day identification deadline and your 180 calendar day exchange deadline.
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6 July 2020 | 2 replies
Sometimes if the property as built after the community entered into the flood program and was built after 1973 you can use the "built in compliance" also if you get ahold of the current owners DECLARATION page they might be getting subsidized rate if they bought the flood policy within a calendar year of the flood zone map change which could be transferred to a new owner but you have to work with an flood expert to make sure it is done correctly.@ Ryan Letzeiser sounds like you really know your stuff.
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30 August 2020 | 4 replies
This is not legal advice, just friendly information.People put properties into land trusts with the hope that they will remain anonymous or that they will trick their lenders into transferring the property to an LLC without triggering a due on sales clause.
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13 July 2020 | 23 replies
Dissolving the s-corp would still trigger this taxable event for himself.
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9 July 2020 | 5 replies
Some lenders like to see the full policy jacket, and some lenders are looking for specific BW12 language on the policy.I do believe you have a good change of educating your lender sometimes a junior level person or person that really doesn't do a bunch of flood compliance (at your lender) will tell you something that is not true usually if you get ahold of someone with more experience or at your lender and an flood insurance expert you will likely have the lender to accept the policy.https://www.fdic.gov/news/financial-institution-letters/2019/fil19008.htmlI would also ask your lender why specifically they are rejecting the private flood insurance policy.
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15 July 2020 | 20 replies
Just trying to get my ducks in a row before I pull the trigger.