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7 April 2024 | 8 replies
We are now producing over $200k year gross income with $83k debt service.
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5 April 2024 | 2 replies
you should get a RMLO or an underwriter to qualify the borrower. if its owner occupied and in florida you also will need to use a third party servicing company to service the loan which will run you around $450/yr. not an accountant but its my understnding unfortunately the interest income is going to be taxed at ordinary income and the principal will reduce the principal. how you offset the losses talk to your CPA.your best bet honestly is to just sell it and bite the bullet.
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7 April 2024 | 11 replies
If you'd like more assistance message me personally, I'm starting an Airbnb consulting service.
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5 April 2024 | 2 replies
Typically Spring and early Summer is the best time to sell.Great to sell it vacant.Seems to be a shortage of homes on the market, but all sales not easy due to the higher interest rates.
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5 April 2024 | 4 replies
Ask questions and learn as much as you can to figure out your best path forward.Thanks for your service!
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6 April 2024 | 15 replies
We hear this often from landlords, and typically there are no real consequences to the tenant not signing.
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5 April 2024 | 2 replies
This seems to me to be a typical cart before the horse issue.
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5 April 2024 | 8 replies
I know that most people who OWN a property and put it on airbnb claim the income on Schedule E ("passive income"), which avoids having to pay the 15.3% self-employment tax.I'm wondering if those who are practicing rental arbitrage by renting the place that they list on airbnb also claim the income on Schedule E, or if you claim it on Schedule C bc you don't own the place that you're listing on airbnb.Whether you own or rent the property that you list on Airbnb, the activities are the same: acquiring the property, furnishing it, activating utilities, listing it on Airbnb, hiring cleaning services, etc, etc.
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5 April 2024 | 4 replies
Ok, so I know it’s like one of the most coveted things, but can anyone recommend a good house cleaner/cleaning service?
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5 April 2024 | 3 replies
Typically, the existing note from seller would have to be paid off through the construction loan.