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24 January 2025 | 7 replies
My biggest conundrum now is I want to be my own GC because even when I play with smaller numbers they’re still out of reach for me to be able to attain this goal and afford the monthly mortgage with taxes and insurance.
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19 January 2025 | 6 replies
The cost associated with insurance for not having 20% is peanuts compared to what you potentially can do leveraging your down payment.
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16 January 2025 | 4 replies
The best way to connect and learn is to be in rooms where it's going down.In terms of captial your best bet is to focus on a primary income that cash flow sufficiently, saving as much as you can and doing something real estate related so you can get familiar with the industry.
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28 January 2025 | 12 replies
Does he understand, Deeds, Due On Sale, Insurance, tax implications, servicing, contracts and so on?
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24 January 2025 | 12 replies
The units are all currently occupied right now, so we won't have to worry about the buyer's market right now haha.With the cash flow I will receive, it will be enough to take care of property taxes, insurance, and enough to save up for any emergiences with the unit that I will need to take care of, so no need to worry, I got you :)!
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24 January 2025 | 5 replies
Just remember if you want to purchase another one you will need to refinance at an 80% LTV as you can only have one CMHC insured mortgage.
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23 January 2025 | 31 replies
I lived in Madrid, Spain for about 8 months and I am curious if it is possible for non-residents to successfully have rental properties within the country.My concern is mostly from a tax standpoint and whether it makes sense.My research shows that Non-residents of Spain(but a resident of Europe) pay a flat rate of 19% on NET RENTAL INCOME.Non-residents of Spain(Not a resident of Europe, such as the USA) pay a flat rate of 24% on GROSS RENTAL INCOME.The difference of paying tax on Net and Gross is huge.Americans are not able to deduct expenses such as mortgage interest, taxes, insurance, cleaning, repairs, etcA pro that I can think about when it comes to invest in Spain is that overall costs are less - Mortgage rates are currently around 4% - 4.5% while it is around 6.5% - 7% in the US.Am I reading the tax law correctly?
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13 January 2025 | 2 replies
Additionally, I would like to attempt to do the process Owner/Builder with subcontracting work out as well as doing some of the work I'm comfortable with (I have some experience with bathroom & kitchen remodeling an am not new to the construction industry).
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3 January 2025 | 3 replies
Adding your property manager as an additional insured means they will be listed on your insurance policy as a named insured.
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18 January 2025 | 36 replies
Maybe you can call your insurance agent and they could possibly whip up a letter or something.