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21 May 2024 | 0 replies
Retirement Accounts: Certain retirement accounts, like a 401(k) in the USA or an RRSP in Canada, allow for borrowing or withdrawing funds for home purchases.
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21 May 2024 | 9 replies
Quote from @Chan K.: Thank you everyone for sharing your thought.
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19 May 2024 | 39 replies
Then it looks like if a small icon could be displayed next to everyones user name that indicates that they are online or in the chatroom perhaps others might become more aware and begin to use the chat feature......??
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21 May 2024 | 4 replies
I have roughly $160,000 in my 401(k).
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20 May 2024 | 5 replies
Quote from @Malik K.: Quote from @Theresa Harris: Unless you are living in it, you will have to put 20% down.
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21 May 2024 | 13 replies
Other ways to house hack: buy a house with more bedrooms and rent them out to cover the mortgage, or use FHA 203(k) loans to fix up a multifamily home.
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21 May 2024 | 48 replies
Quote from @Bob Stevens: Quote from @Steve K.: Quote from @Brian Kloft: Quote from @Steve K.: I used to have S8 properties and for the most part I agree with your sentiment: it doesn't have to be as bad as the stigma around it might lead one to believe.
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19 May 2024 | 8 replies
@K JamesI would do the sewer ejector pump.
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20 May 2024 | 28 replies
Make sure you leave that new LLC as a disregarded entity, or if you bring investors on with you, make sure it’s taxed as a partnership (subject to Subchapter K).The only way to mitigate cap gains would be if the property appraised very close to its net tax basis.The other strategy at your disposal is to dissolve the S-Corp in the same year (though you really need to be in-line with your CPA on this one)… you should have more tax basis post- deemed sale, and that basis would help you achieve a capital loss on dissolution of your corporation.Talk to your CPA my friend!!