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1 September 2016 | 3 replies
Hi guysI'm new to real estate investing and I was considering applying the 50% rule to my deal analysis prior to asking my real estate agents for actuals.I'm assuming this will help build credibility with them and allow for more concrete inquiries rather than constantly asking them for information on deals that may never get done.What are you guys thoughts?
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4 September 2016 | 13 replies
HelloMost material I come across on the Web for wholesaling and flipping are geared toward US investors - is there much of a difference when applying a strategy in Canada?
2 September 2016 | 3 replies
I tried to get work anywhere, even applying for jobs in Nigeria and Russia, to no avail.
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1 September 2016 | 2 replies
If so, don't give up, you may just need to find a co-signer with better credit/employment history, to help you qualify.
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1 September 2016 | 3 replies
We have SIX MONTHS of reserve cash, great credit, and are now both employed.
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2 September 2016 | 6 replies
PROs:Adds a level of professionalismAccess to MLSNetworking with other agentsAccess to resources of TREC, TAR, NAR, SABOR, & other groupsListing your owner propertiesAbility to earn commissions (or given them up in order to get a deal)Ongoing education that keeps you at the forefront of the market, legal issues, & trendsCONs:More liability (assume professional liability)Some people just don't like RE agentsRealtor - often considered the last bastion of hope for people who have failed to launch a successful career in anything else.Dues, Fees, Insurance, Expenses in GeneralSubject to rules and laws that don't apply to non-realtorsHaving to work with TREC (they are just very slow and cumbersome to work with)For me, I find it worth it to be a professional in my field.
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1 September 2016 | 7 replies
Last but not least is "subject to financing" and then don't apply.
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2 September 2016 | 5 replies
I was looking to do a cash-out refi to take money out while locking in lower rates, but now that the properties are in the S-Corp, I am unable to transfer back into my name to refi without creating a taxable event.I am wondering if there are any strategies to moving these out in a tax advantaged way (I expect there will be some cost to doing so).Some strategies that have come up in other conversations are:1) Form LLC and issue a note to the S Corp with the properties as collateral... then if S Corp defaults on the note... the properties will be transferred with out triggering taxes (although cost basis would remain the same)2) Have appraiser apply discounted valuations on properties due to lack of marketability (I am only a 50% owner of the S-Corp).
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2 September 2016 | 34 replies
That's where more of a multifamily lens is applied.
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1 September 2016 | 2 replies
This type of transaction is often referred to as tenants-in-common transaction and specific rules apply.