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12 March 2024 | 7 replies
I've looked at 5+ unit deals in your area (a few years ago) and I've connected with local credit unions that are open to lending on them.
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12 March 2024 | 7 replies
DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.
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12 March 2024 | 9 replies
Or depending on your total assets, including invested, qualify you on assets and credit alone.
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12 March 2024 | 7 replies
Your accountant would have filed the form 8824 which would have reported the 1031 exchange.
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12 March 2024 | 4 replies
.- Use cost segregation studies to expedite depreciation of your properties to offset large income gains.Entity Structure- Choose appropriate legal structure (LLC, partnership, or S corporation) with consideration for different tax implications.Tax Credits- Explore available credits, like energy-efficient or historic rehabilitation credits.Qualified Business Income (QBI) Deduction- Check eligibility for QBI deduction, providing up to a 20% deduction on qualified business income.Record Keeping- Keep accurate and organized records for tax compliance and audits.State and Local Taxes- Consider varying state and local tax implications, including property and income tax rates.Tax Planning- Engage in proactive tax planning, consulting with professionals for a comprehensive strategy.Tax Changes- Stay informed about changes in federal, state, and local tax laws affecting real estate investments.Remember to consult a real estate tax professional for personalized advice based on your specific situation.
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13 March 2024 | 13 replies
@Jeffrey L Evans Years, yes, it’s journeyman or better for 4 years; a college degree can account to 2-3 years plus 1 year journeyman or better position in a construction company.
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11 March 2024 | 4 replies
Could i take any of the left over cashflow and transfer to my personal account and use it to pay the 401k loan back?
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12 March 2024 | 8 replies
For the lenders that do a 0 with decent credit you will need to put down 15% - 20% on a bridge loan and that's with 720+ credit.More than that though, you need to understand the capital requirements.
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12 March 2024 | 3 replies
Yes, I contacted a number of tax preparers in the area and well as an account.
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14 March 2024 | 18 replies
With current interest rates and house prices, you may get further ahead with a high yield savings account.