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14 March 2024 | 1 reply
The AIO is our only debt on the property and is in our personal name (not an LLC) as a requirement of the loan.We are looking to do an extensive addition/remodel on our personal home, and given current rates, we are considering using the AIO loan to help pay for it.
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14 March 2024 | 2 replies
This rarely ever happens but provides additional barriers.
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14 March 2024 | 2 replies
The LLC is a passthrough entity for tax purposes, meaning the losses/gains will show on your tax return.
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13 March 2024 | 7 replies
She wants to give me her house and move into a senior citizen home@Dana N Johns: Just a couple of thoughtsTalk to a real estate knowledgeable, CPA, not to your standard CPA and not to unknown investors on some forum in the ether for a matter like this.Now, if your mother has lived in the property for two of the last five years, she is entitled to a tax break on capital gains if she sells or if the title changes hands (basically sells using creative finance).However, if you inherit the property, there is a tax advantage to you in terms of stepped up basis and capital gains and a tax advantage to her from incurring capital gains if she is outside of the “two of the last five years” window.As far as the Medicaid situation, that is best explained by a CPA or tax attorney or Enrolled agent.
15 March 2024 | 3 replies
As you can see in the photos, I placed stepping lumber so I dont fall, in addition to tethering myself to an anchor in the roof.
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12 March 2024 | 2 replies
I have a house with about 70-90k of equity that I’m looking to refinance out of the property. I’m currently living here with a roommate and have a 3.3% interest rate loan on 300k and still owe about 280k. My monthly p...
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14 March 2024 | 5 replies
So while you may not see a gain in value over the next two years, over a 10-20 year span you would typically see excellent growth.Also unlike the last five years where operationally the operator could be awful but saved by appreciation, today it is all about the asset management.How can you reduce costs, are there ways to add amenities to increase rents.
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14 March 2024 | 11 replies
Financing: I have about $1.3M to deploy right now and will have additional ~$700K (sale of primary home) to deploy in 3 years (total $2M).
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14 March 2024 | 6 replies
Getting an additional 3% back on every deal made too much sense to me, so I got my Real Estate License.
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14 March 2024 | 8 replies
And keep in mind this is in addition to your normal tax liability.