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20 May 2024 | 6 replies
I’ll start out.....My first hard money loan I took out September of 2017. 12% with 3% points to the broker at the table. 1 year with extensions available for 3 months with 1% fee.
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20 May 2024 | 5 replies
Focus on modern, efficient layouts that maximize living space without extensive structural changes.
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21 May 2024 | 48 replies
I had to deal with a lot more issues than I've ever had in non-S8 rentals like extensive property damage and also bed bugs, roaches, drain lines completely clogged up by grease (I learned what sewer worms are, look it up), spray paint art on walls and food on ceilings, noise complaints, police at the property, removing dead bodies, etc. 4.
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19 May 2024 | 1 reply
Hi John,With 20 years of experience in the real estate industry, I have extensive knowledge and connections that could help with your short-term real estate joint ventures.
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18 May 2024 | 11 replies
I would suggest getting an extension if you are on that hard money loan and selling to get your FICO score back up.
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20 May 2024 | 28 replies
A "reorganization took place, one of the families left the group in exchange for the insurance proceeds and the property then had 4 owners (and 4 cottages)2000: I bought ($42,000) my parent's share.2000-2010: I bought the other shareholder's shares (total $300,000), leaving just me as the sole shareholder2017: Elected to file as S corp.None of these transactions were properly recorded.2022 1120S tax return (2023 is on extension) shows:$0 income$15,000 Land (sched L, line 12)$122k Loans from me($189K) Retained earning$93K cap stock($46k) Sched m-2I have no idea how we got to these amounts.Does any of this make things easier to understand and easier to get me out of this capital gains problem (or does it just muddy things even more)?
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18 May 2024 | 1 reply
As the lease end date approaches, someone starts a REMOC (REnewal/Move Out Checklist), and someone works the REMOC depending on the direction the property goes (Lease extension of processing the move-out)...
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17 May 2024 | 1 reply
Once you have a shortlist, sign up for an account with each one and test them extensively to see how they function.
16 May 2024 | 4 replies
Asking for a 24 month term upfront will be cheaper than asking for an extension 12 months from now, and we all know it's not going to get done on time anyways, so that would be my "ask" in your shoes.
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16 May 2024 | 25 replies
For my CPA SMEs - I guess it's probably late now, but (assuming the bill passes) how did you advise your clients on the proposed retroactive changes to the bonus depreciation for 2023 - from 80% back to 100% - did you advise to file extensions or amend next year or something else?