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17 October 2019 | 9 replies
1- It's customary to have a "landlord policy"...I use Allstate and after group discounts it's only $46/mo with state minimum coverage...property is valued at $145k.
3 August 2018 | 5 replies
She also knew the apartment was being shown since the agent from Renters Warehouse was notifying her of showings. 4 days before the move out date, I had a city inspection and when I went into the property, it didn't appear that any packing or moving had been started even though she stated that she already had a few days prior over the phone.
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15 August 2018 | 15 replies
You do get tax advantages by putting it into the 401k to then purchase, but you will kill your personal cash flow from the property by using a 5 year amortized loan from your 401k to buy it.With you wanting to be FI prior to the 401k distribution age, there really isn't a reason to chuck it into the retirement vehicle first.
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8 August 2018 | 4 replies
In March 2018 I completed a three year battle with the City of Wheaton (this use to be a 4-flat with code violations from prior owners).
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11 August 2018 | 6 replies
Cover all your bases up front with policies on overnight guests (what is an occasional guest vs a rogue tenant), illegal activities (can you evict over underage drinking, marijuana-what evidence is needed?).
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8 August 2018 | 6 replies
Even if it's worth $250K :)If you can be patient and turn that property into a rental for a year then you could sell it and take $250K of gain tax free since you've lived in it for 2 out of the 5 years prior to sale.
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9 August 2018 | 33 replies
He did provide a message with an insert that says if interest is transferred or sold without lenders prior consent that they would give us 15 days to pay the loan in full.
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8 August 2018 | 5 replies
Get a forced place insurance policy if your contract allows.
19 December 2019 | 17 replies
No title insurance company will write a policy.
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14 August 2018 | 2 replies
A nonresident, who receives deferred compensationor income from the exercise of stock options that wereearned in Georgia in a prior year is required to pay tax onthe income, but only if the prior year’s income exceedsthe lesser of: 1) 5 percent of the income received bythe person in all places during the current taxableyear; or 2) $5,000.