7 November 2021 | 4 replies
Even though we're a local PMC, we tell everyone the following:In our experience, the #1 mistake landlords make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.
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10 November 2021 | 2 replies
Tax Attorney's normally deal with more complex tax related issues than a CPA.I would expect a Tax Attorney to be dealing with issues such as1) International Tax Law / Transfer Pricing2) Drafting a Private Letter Ruling(PLR) with the IRS confirming that a tax position they will tax is blessed.3) Confirming or understanding recent tax law changes / updates4) Taxation rules for companies who operate over multiple states.Best of luck
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22 October 2021 | 11 replies
It was so shady, since the new Loan Estimate in their system just needed me to view it in order to confirm it.
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21 October 2021 | 6 replies
I can confirm that Pen Fed Credit Union goes up to 90% HELOC on a primary.
22 October 2021 | 8 replies
I also didn't expect lenders to change terms after going into contract, wiping out my cash reserves and closing costs, thus killing the deal.
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20 October 2021 | 3 replies
and I spoke with the bank earlier today and confirmed that we should qualify for a jumbo loan that would allow us to make this work out.The place I am getting stuck is trying to figure out any kind of realistic estimates for whether the three cabins are actually able to generate enough positive cashflow to allow us to eventually step back from our jobs and/or running the numbers for everything in a way that I would feel confident enough to try commit to something like this.Would it make better sense to try and start out with something more simple/conservative?
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27 October 2021 | 16 replies
I am currently looking at a property in Detroit Michigan for $7k because it obviously needs repair, the seller says it should be about $25-30k in repairs and if that were the case I would still have a solid amount in reserves in case of emergency.I have a rule that if it has foundational issues it’s not worth it.
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28 October 2021 | 19 replies
AND you must maintain adequate reserves to take care of the disasters that may happen.Most of my clients fall into the first group above.
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21 October 2021 | 2 replies
I use 5% too and ask for a copy of bylaws, who the management is, make sure the board exists and is current, check reserves and future expenditures.
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20 October 2021 | 1 reply
Got an invoice for City of Hagerstown Real Estate Tax and the letter said to make checks payable to and mailed toCity of Hagerstown, Treasurer's Office PO BOX 8708, Lancaster, PA, 17604Can anyone else confirm that this is also what they received from the city.