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13 March 2024 | 8 replies
Do you want to take cash out, how much, what's the ARV, and what do you owe?
15 March 2024 | 25 replies
If 2795 is the current market rent for a property like this, then you might raise it a little, so by 50-75 each year after the current lease ends to cover cost increases (prop taxes, prop insurance, labor costs, etc).
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14 March 2024 | 11 replies
Our plan in the near term would be to use the cash-flow to buy additional properties every 1-2 years, increasing cash-flow so that we can live off that income after 10-15 years.Given our modest goal of $10K/month, I am leaning towards Option 2 which is to use cash to buy properties and in a few years re-evaluate financing.Here is one of the new construction duplex properties I am vetting right now:Purchase price: $360K for a duplex.Expected rents: $3300 monthlyInsurance + taxes: $500Vacancy, Maintenance + Capex, Property Management (25%): $800Net cashflow: ~2K/month (CoC ~7%)
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15 March 2024 | 13 replies
Less affluent areas that will benefit greatly from occupancy taxes and tourism may be a better bet.
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15 March 2024 | 8 replies
That might be something to consider, and we got a tax break as well.
12 March 2024 | 1 reply
The only concern if doing quitclaim will trigger home reassessment, that will push property tax higher.Comments and suggestions are welcome.
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15 March 2024 | 7 replies
Off the top of my head, I believe I'm paying them around 18% total commission (they charge 10% on all taxes, fees, cleaning etc).My question is - Should I relist my property now during dead season or wait until peak season?
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14 March 2024 | 4 replies
Carrying cost loan (closing costs on loan and interest), utilities, etc can be written off from a tax standpoint to reduce your liability/
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14 March 2024 | 9 replies
Tax liens3.
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14 March 2024 | 1 reply
Are there any tax implications or other considerations if we use this loan for our personal home project?