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6 June 2014 | 2 replies
In a mortgage foreclosure they may remain but it depends on the details.
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11 June 2014 | 6 replies
IN MY BEST INTEREST: I am satisfied with The Agreement and have agreed to sell The Property because it is in my best interest to do so. ________ 5.
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19 June 2014 | 12 replies
Although @George C. makes a good point about many sex offenders remaining undiscovered, the situation you are looking at is something I take a different view of.
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7 June 2014 | 3 replies
If you rely on banks to fund your loans early on, you will remain frustrated and at their mercy.
10 June 2014 | 5 replies
Any payments on the balance remaining from the original loanmust be included in the DTI ratio calculation for the refi transaction. o Funds received as gifts and used to purchase the property may not bereimbursed with proceeds of the new mortgage loan The new loan amount can be no more than the actual documented amount of theborrower’s initial investment in purchasing the property plus the financing of closingcosts, prepaid fees, and point on the new mortgage loan.
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8 June 2014 | 9 replies
You have to remain consistent and fair with everybody and stick to the policies that are in place.
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8 June 2014 | 18 replies
Evicting someone for petty violations in order to satisfy your loan terms is, well, petty.
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19 June 2014 | 2 replies
Generally there is none because non recourse lending is generally asset based lending meaning the LTV on the loan is enough to satisfy the risk appettite of the investor but who knows each investor can have different appetites.
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9 June 2014 | 12 replies
On the Bigger Pockets forums, S-Corp appears to be a popular (but not universal) choice for flipping, as an s-corp would help with avoid profits all being taxed as ordinary income (Federal, State, and then an additional 15.3% for both sides of FICA).In my case, tax rate something as follows:INCOME TAX- Federal (up to 36.9k): 15.0%- CA State (up to 39.3k): 8.0%- FICA - both sides of medicare and social security: 15.3%--------- Total Ordinary Income Tax Rate (Fed+State+FICA): 38.3%- Total Dividend Tax Rate (Fed+State): 23.0%I could be calculating this wrong, but for the flip scenario, I'm estimating the numbers as follows (just updated them to reflect new financing terms and flat-fee MLS): - Purchase Price: $14,000.00- ARV: $60,000.00- COST Rehab: $18,000- COST 5 months of holding costs (flip insurance, debt, utilities): $1,727.50- COST Closing costs (flat-fee MLS and marketing/ 3% buyers realtor fees/ county transfer tax/ 2% closing costs): $3,465.00PRE-TAX PROFIT: $21,707.50Applying the above tax table, the post-tax profits appears to be as follows: - No S-Corp total taxes (100% taxed at 38.3%): $8,313.97- With S-Corp total taxes ($1,500 taxed at 38.3%, remaining taxed at 23%): $5,222.23So, assuming my numbers are correct, with an S-Corp, it's a tax-savings of around $3,000.
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13 July 2014 | 24 replies
I wish Croatia all the best in their remaining matches!