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5 April 2024 | 1 reply
I've been paying escrow+mortgage on rentals since 2015 and never had this happen to me.Details:Mortgage company does an escrow analysis and finds the following:2023 Taxes $1648 + Insurance $1634 = Total: $3282New Escrow for 2024Taxes $2331 + Insurance $1918 = NEW TOTAL: $4250- With increased tax and insurance I owe $968 more on escrow.- $968 difference paid out over 12 months would be $80.60 per month MORE.The mortgage company is claiming that I owe $3,000 MORE in escrow and is charging me an additional $250 per month.I checked with them and I've NEVER missed a payment and have been up to date this whole time.They say its not a mistake but couldn't explain why I owed $3000 more instead of $968 more for the year.Am I missing something?
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5 April 2024 | 43 replies
If Agent or Owner are called upon to respond to any such claims, each party will promptly notifify the other.
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6 April 2024 | 13 replies
If there is a lawsuit or claim, the claimant's attorney, as well as the claimant's insurance (such as the insurance provided by Airbnb/VRBO), will look to prove and demonstrate your liability in the loss.
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6 April 2024 | 1 reply
If you have or buying a rental/airbnb or even fix and flip. Do you want the property in business name/LLC etc?Also if you have a business for just buying/selling land only and spend money/milage traveling to properti...
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7 April 2024 | 0 replies
Using a 1031 Exchange we were able to defer capital gains taxes and upgrade to the VRC.
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6 April 2024 | 19 replies
Tenant could not pay taxes and had to give him a break on rent.
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8 April 2024 | 9 replies
You'll pay:6% or so in RE sales commission: $20,400Payoff of a 216k loan to lenderRecoup your 40k for loan costsThat leaves 63,000Short term gains tax 40% (25,200)You net 37,800.
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6 April 2024 | 19 replies
Hi,Did anyone hear about this company Named: Release or TryRelease.com they claim to be investors help for future investments based on current properties future income, no collateral needed.
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4 April 2024 | 1 reply
Do I have to claim the down payment as income since it was used to pay back a loan?
9 April 2024 | 67 replies
You've built something up to the point where you don't want to lose it, and house hacking is a phenomenal entry point with incredible tax benefits.