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19 March 2024 | 0 replies
High Maintenance Costs: Escalating maintenance costs can erode your profit margins.Change in Neighborhood Dynamics: Shifts in the neighborhood that negatively affect your property’s value are a red flag.Better Investment Opportunities: Selling might be wise if you've identified a more lucrative investment opportunity.Cash Flow Necessities: If you need liquidity, selling a property can provide a significant cash inflow.Tax Implications: Sometimes, selling can be advantageous for tax reasons, especially if you can benefit from capital gains tax laws.Personal Financial Changes: Changes in your personal financial situation may necessitate liquidating assets.Retirement Planning: Selling investment properties can be part of transitioning into retirement.Portfolio Diversification: Selling might be necessary to avoid overconcentration in real estate.Legal or Regulatory Changes: New laws or regulations can impact the attractiveness of holding onto a property.Ownership Challenges: If the burden of ownership outweighs the benefits, it may be time to sell.Real Estate Market Trends: Anticipating a downturn in the market can be a reason to sell early.Interest Rates: Rising interest rates can reduce the pool of potential buyers and lower property values.Property Value Appreciation: If your property has appreciated significantly, taking profits might be smart.Lifestyle Changes: Sometimes, personal life changes dictate a shift in investment strategies.ConclusionDeciding to sell an investment property is a complex decision influenced by market conditions, personal circumstances, and future investment goals.
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18 March 2024 | 7 replies
Check the appraisal if they noted it as "Deferred Maintenance" - most DSCR Lenders will require the property to be fully turnkey and either $0 or up to a very small amount, like $2k deferred maintenance noted
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22 March 2024 | 19 replies
I'll also keep all communication, documents, travel expenses, purchase records.I'm trying to find specific instructions on what qualifies IRS' time requirement.
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21 March 2024 | 10 replies
I will choose the best comparables to use and then do a market analysis to determine any time adjustments required.
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21 March 2024 | 3 replies
We met all non-passive requirements and can provide proof to show that our projected annual materially-active involvement is at least 500 for 2023.We met with our CPA and he brought to our attention that we had a loss of -$107k.
21 March 2024 | 2 replies
Some DSCR loans even feature "no specific DSCR required!"
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21 March 2024 | 10 replies
I believe there are income requirements and this has to be your primary residence. 3.5% down is the minimum.
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21 March 2024 | 2 replies
when it was built it may not have been required Exposed wiring is not a safety hazard unless its bare wire . and a GFI is easy to replace .S traps were cade at one time , they are not now , but the house only has to be up to what the code was when it was built .Bilco doors , hard to say , but they are about $800 to buy .
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21 March 2024 | 16 replies
But also note there is a wrinkle in that if investing in Las Vegas, the state of Nevada is the rare state with pretty strict regulations and licensing requirements for DSCR, so a lot of national platforms don't lend DSCR in Nevada.
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21 March 2024 | 3 replies
We asked why and were told that "our client has exercised their right to rescind, Georgia law does not require them to provide a specific reason as we are within the statutory time frame."