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30 January 2024 | 5 replies
I have a tax question to run by you before speaking to an accountant and paying a fee for that!
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30 January 2024 | 3 replies
Maybe find something that looks a bit down or even empty, then start scouring the tax rolls.
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31 January 2024 | 24 replies
My thinking is that a house for me has little tax or financial benefit while investment property does.
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31 January 2024 | 2 replies
Based on a rough analysis for a project timeline, I believe the total project can be completed in 5-7 months with the team I have available if we get involved in completing the work on the project.Deal Analysis as a whole - Actual Costs may be slightly different but estimates should be fairly closePost Construction Estimated Market Value - Lot 1: $379,000 Lot 2: $307,000 Total Estimated Market Value $686,000+- $102,000 - Cost to payoff HML & Previous Builder- $154,800 - Estimated Cost to complete House #1- $170,370 - Estimated Cost to complete House #2: Includes New Well/Septic $7500, Impact Fees $2100, Permits $1000= $427,170 - Estimated Cost to Payoff HML, Complete Construction on House #1, and Construct House #2+ $686,000 - Total Future Market Value- $20,580 - 3% Buyer Agent commissions as the current owner(Listing Agent) will be listing these properties without compensation- $2,538 - Real Estate Transfer Taxes- $1,500 - Settlement Costs Paid at Closing______________________________________________ $234,212- $27,900 - Payment to Seller for Down Payment made by seller to HML @ Origination (For her to break even)= $206,312 - Potential Return before any Interest/Fees/Taxes/EtcROI: 45.3%RoR: 68.9% PM: 30.07% Acquisition/Exit: 8 MonthsI've spoken to a few HM Lenders and ran rough numbers by them.
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31 January 2024 | 2 replies
These markets are unlikely to see homeowner demand being diverted to rentals for economic reasons, given the tax advantage of ownership and the potential for equity gains.
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31 January 2024 | 6 replies
The hard thing with commerce is the property taxes are higher and some areas aren't that great.
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31 January 2024 | 11 replies
(Lower rates, higher rents, and apprciation.) until then you get loan pay down and tax advantages to go wi the lower prices.
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31 January 2024 | 4 replies
You are on the hook for taxes, insurance, liability claims, and the mortgage as an owner - none of that as the lender.
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30 January 2024 | 5 replies
@Amber Forkey if the trash removal company is a C-Corp or S-Corp (or an LLC taxed as such), no need to send.