3 July 2024 | 2 replies
(If you sell and don't 1031 the property, then you'd have capital gains taxes too if held for over a year, personal income taxes if under a year.)Property taxes should be looked at as an operating expense.
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3 July 2024 | 14 replies
Do not hire them then you will argue about the cost or if you paint a driveway it’s not gonna hold etcsay thanks but it’s our policy to not have work done by a tenant .
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3 July 2024 | 7 replies
Then, that's when the real negotiation begins.Definitely contact a probate attorney in that market though.
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3 July 2024 | 1 reply
If you think you're getting a lot of attention because your rent is a little lower then a good tenant will STAY LONGER because then cannot do the same or better with a different rental for the same price.
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3 July 2024 | 4 replies
If you create a new partnership then you are not meeting the same taxpayer requirements of the 1031 exchange.
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3 July 2024 | 3 replies
If seller financing is an option, you may be able to get hard money for the rehab, then cashout refi into a DSCR or Conventional investment loan when complete and take it straight to market as a rental.
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3 July 2024 | 6 replies
If you are worried about the lien waiver then yes just tell him you will pay him once you get both lien wavers and you will have him the check at the same time he hands you the waiver..
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3 July 2024 | 9 replies
Personally, what I've been doing is simply adding up these individual expenses, and then come tax time or whatever, simply divide it among the number of properties that I have, and then add that number to the specific unit in question's maintenance/repair expenses.
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3 July 2024 | 1 reply
Lived in it for over 2 years and rented it out for $1,000 profit a month for one year and then sold.
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4 July 2024 | 1 reply
When I analyze a deal like this, I review then individually so that I know what I'm actually getting.