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2 July 2020 | 11 replies
Unclear, why would you care about taxes from CapGains if it's funded out of a self-directed IRA.Also, remember that Depreciation Recapture (if you don't 1031 for tax deferral) is 25% on what you've taken when you close.Sometimes, doing cost segregation doesn't work in your favor, but I would consult with a tax professional if you're trying to figure out stuff.I appreciate the tribal lore on these forums, but I'm not a CPA and there are a few others that are not.
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9 April 2019 | 9 replies
Do yourself a favor and subcontract each thing you need by getting multiple quotes for each thing you need done or find a new contractor because that one is looking to make a killing.
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9 April 2019 | 7 replies
The time value of money will swing heavily in your favor if you don't lose focus, you're doing great.
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10 April 2019 | 23 replies
Mortgage the two you still have once your creditors report zero balances and you are looking at having 2.5 times your previous working capital as cash instead of loans for the next round of property acquisitions and more favorable rates than you're going to see under your current circumstance.
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9 April 2019 | 6 replies
The property must be owned in your name and not in a business entity (ie LLC).Portfolio loan: higher adjustable rate with less favorable terms (ie 5 or 10 years and includes a balloon payment).
9 April 2019 | 2 replies
Title companies there shy away from double closings and favor assignments instead.My suggestion is that you talk to some title companies and make sure you can do a double closing or assignment wholesaling transaction first with them and also how they require (timeline and regulations) for your earnest deposit.
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10 April 2019 | 4 replies
Frame it as a favor to them and sometimes they'll take you up on it and move early if it's convenient for them.
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11 April 2019 | 9 replies
In my experience, after doing some favors for agents in my office, they threw me referrals for smaller deals they don’t have time to handle.
9 April 2019 | 3 replies
Whatever helps you sleep at night and makes your day easier.My first deal was a no money down deal and I anticipate working my next one in a similar fashion.
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10 April 2019 | 17 replies
If you add value to them, they’ll be happy to return the favor.