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19 February 2024 | 5 replies
(plus higher property taxes due to the new assessed amount)2- I don't have cash for the rehab yet, so any advice on going about sourcing the 100k?
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19 February 2024 | 5 replies
I also got the taxes reassessed and cut by more than $7k per year, due to the tax assessment being overvalued compared to my purchase price.I just went through the process of getting a 25-year commercial loan put on the property with my usual lender.
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19 February 2024 | 7 replies
I am also extremely interested in Portfolio loans, but I have zero contacts dealing with those types of loans.Finally, I have an 'excellent' credit score, no debt at all besides 5 other rentals at 75/25 LTV (all cash flow positive) and a job that I claim over 100,000 in taxes, and have three years of consistent tax returns showing that.
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19 February 2024 | 5 replies
Any ballpark idea what percentage our property taxes would go up if we went from 2 to 3 units and how does that get plugged into the calculation?
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17 February 2024 | 0 replies
However, I'm interested in more detailed guidelines regarding the specific categories of expenses and income, as well as any operational assumptions you might advise.For instance:General and Administrative Expenses: How do we determine if costs related to software, credit card fees, office supplies, etc., are reasonable based on the size (square footage) of the facility?
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19 February 2024 | 3 replies
**Seller Finance**: Become a lender instead of a landlord by offering seller financing to buyers, which can provide consistent payments and tax benefits ([Why Would a Seller Sell on Seller Finance | Seller Q&A](;t=363s)).7.
21 February 2024 | 51 replies
Are they willing to provide a few months of bank statements and last years tax return showing matching income?
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19 February 2024 | 5 replies
Keep in mind by building and then selling the home you are going to be taxed at STCG (effectively ordinary income) whereas the land, could be taxed at LTCG.
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19 February 2024 | 0 replies
Property taxes almost $2,800/yearly.