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11 June 2020 | 4 replies
See below a checklist of items you will need:Copy of your Driver’s License(s)2 Most Recent Paystubs2 Most Recent Bank StatementsMost recent retirement/investment statement covering the most recent 60 days2 Most Recent Tax Returns2 Most Recent W2’s/1099’s2 Most Recent K-1’s, if applicable*If your ownership is greater than 24%, please also include copies of your 2 MostRecent Business Returns, YTD P&L and Balance SheetFor all properties that you own, please provide the following:Current mortgage statementIf you do not escrow for taxes/insurance or if you own free and clear,please also provide:Current insurance statementCurrent Tax BillCopy of your current/most recent HOA receipt, if applicableFor any/all investment properties, please provide a copy of your current leaseagreements, if applicableIf you pay/receive child support/alimony, please provide a copy of your completedivorce decree and/or child support agreementAre interest rates the same as buying a primary residence or higher?
10 June 2020 | 5 replies
A big thing with military is the time management.
10 June 2020 | 2 replies
Some items I will leave to the experts.Secondly to that do I need to put an offer on the house and have it under contract before going through with an inspection or walk through with a Contractor?
10 June 2020 | 2 replies
@Wesin NurThe 1% rule is just a general rule.with all things being equal, good neighborhoods will have a lower % than areas with a bad neighborhood.Good neighborhoods normally require less upkeep and may survive by collecting less than the 1%You also want to determine what the costs normally are for items such as real estate taxes and insurance.If you are in an area with a high property tax / insurance, it will likely be harder for you to cash flow at less than 1%.
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27 June 2020 | 7 replies
In Florida, our Governor allowed local (in county) stays, and stays for first responders, military and medical.
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19 June 2020 | 20 replies
But you are off on a few items.
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21 July 2020 | 8 replies
@Manasseh Arnold pretty much all lenders can originate VA loans, and I would personally focus more on finding a lender who understands investing over going with one of the groups that markets hard to the military (USAA, Navy Federal, etc).
11 June 2020 | 1 reply
We're a military family currently stationed in the UK and I don't want to omit information but I can't seem to break this door down... any advice?
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12 June 2020 | 14 replies
But I sell for net long-time rentals that have punch list items to first time buyers.
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11 June 2020 | 1 reply
Payments that you make normally fall into one of 3 buckets100% of the payment can be factored in somewhere on the returnPartial payment can be factored somewhere on the return0% of the payment can be factored in somewhere on the returnHouse-hacking also has considerable tax implications in the event that you want to sell this property.You can potentially defer a portion or all of the gain on the investment property with 1031 exclusion.You can potentially exclude a portion or all of the gain on the personal residence with section 121 exclusionThe answer to your $10,000 question is it depends on if the unit is in service and what the breakdown of the $10,000 is(repair vs improvement) and if there is any safe harbor/election to currently expense the items.