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16 May 2024 | 3 replies
What strategies have proven successful for you in finding and securing profitable deals?
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20 May 2024 | 28 replies
A "reorganization took place, one of the families left the group in exchange for the insurance proceeds and the property then had 4 owners (and 4 cottages)2000: I bought ($42,000) my parent's share.2000-2010: I bought the other shareholder's shares (total $300,000), leaving just me as the sole shareholder2017: Elected to file as S corp.None of these transactions were properly recorded.2022 1120S tax return (2023 is on extension) shows:$0 income$15,000 Land (sched L, line 12)$122k Loans from me($189K) Retained earning$93K cap stock($46k) Sched m-2I have no idea how we got to these amounts.Does any of this make things easier to understand and easier to get me out of this capital gains problem (or does it just muddy things even more)?
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17 May 2024 | 11 replies
It’s only “100 deductible interest” and loan pay down.
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16 May 2024 | 9 replies
A hard money loan would likely be an excellent fit for your needs.
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15 May 2024 | 4 replies
I have a good credit score, but I'm concerned that given I'm going to have very low provable income for the next 2-3 years and not be able to secure a loan especially with a low down payment.
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17 May 2024 | 5 replies
I did get pre approval for fha loan.
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17 May 2024 | 8 replies
And the loan amount will be 68k + 60k = 128k.
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17 May 2024 | 2 replies
GC's should not be banks - have the borrower get a loan from a bank to pay the GC (this is what I would do if I was the GC)
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16 May 2024 | 6 replies
I’ve been chatting with a fund manager about our performing notes.He asked a question I hadn’t heard before...Would we be willing to buy any loans back if the borrower goes 90 days delinquent?