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4 March 2024 | 6 replies
I know this is pretty obvious, but have you tried checking the Montgomery County property tax records or the property tax assessment records online for Silver Spring?
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6 March 2024 | 4 replies
Also, during those 2-3 years you may have to bear to obtain possession, the borrower will probably ignore court orders to pay insurance and property taxes, leaving you out of pocket for those costs.
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3 March 2024 | 1 reply
so most people will have to be as leveraged as possible to scale (at the beginning). as in, keep your LTV high and focus on buying 'as much' ($$) RE as possible. this is if you're doing a pretty run of the mill REI strategy like buy and hold. i came across an interesting guideline once: if you could sell today and net 7x+ your annual true net cashflow, you should cash-out/refi, or sell/1031. think of it this way: if your portfolio in a year is worth 1m market value, and you owe 600k, and have a lender that will do a portfolio loan at 80% ltv, you could cashout refi and get 200k to play with (minus closing costs). when you compare the now-lower cashflow from the existing portfolio (higher LTV & maybe different rate), to what you can do with 200k cash, THAT'S where it gets fun. maybe you lose 1k/mo in cashflow on the original portfolio (literally just made up a number, idk), but you can gain 2500/mo in cashflow with that 200k.. then doing the cashout/refi earned you a net increase in your monthly profit of 1500/mo, plus you're getting debt paydown and appreciation on "more" real estate, probably getting bigger tax benefits, etc.
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4 March 2024 | 2 replies
Could use some guidance on how to divide the business, taxes, and payouts.
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3 March 2024 | 1 reply
Hi Mandeep,The 100 sq. ft. of exclusive landlord space could be utilized in a Business Use of Home deduction on your personal tax return, accounting for 10% of your home expenses.
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2 March 2024 | 8 replies
Hi guys,Quick question..I have W2 job and last year did around 85K gross from my job..Also in October last year I bought investment/rental property with 30% down..today my tax person told me-I owe the government $ 3,5K ...please keep in your mind compare to my coworkers I am paying crazy amount taxes during the year...I know each case is different and unique but is this even possible?
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4 March 2024 | 4 replies
So I'm wondering if I maybe messed up when it comes to accounting and taxes while rehabbing a house to rent.
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5 March 2024 | 12 replies
The purpose of course, is to save for retirement in either a deferred or tax free account.
5 March 2024 | 26 replies
Look up local ordinances, laws, taxes, and insurance.
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4 March 2024 | 4 replies
As to your primary residence exemption, if you don't live there and you claim primary residence exemption that would be tax fraud.