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25 September 2024 | 29 replies
Hey Scott,I took the TT intro course, bought the training, and attended one of their three-day workshops.Prior to enrolling, I searched for lien/deed training courses and TT has an excellent SEO manager, so I ended up going that route.
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25 September 2024 | 8 replies
Using a Roth IRA for multifamily investments offers tax-free growth, but you lose the ability to claim depreciation deductions
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25 September 2024 | 14 replies
Your brother-in-law’s 10% ownership won’t affect your ability to claim this exclusion on your portion.Unfortunately, the option to roll proceeds into another property (like a 1031 exchange) only applies to investment properties, not personal residences.You’re likely eligible for the exclusion, but I recommend confirming with a Tennessee tax professional for any specific state tax issues and to verify your status with overseas residency.Let me know if you need more guidance on this or related financing!
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27 September 2024 | 10 replies
I started doing a little research and saw that Doorloop was a highly rated app, and has a ton of features like tenants ability to submit work orders for issues, collect rent with late payments automatically figured in upon payment, talk back and forth with your tenants, send out messages/notices to one or all tenants at once, sync with quickbooks, etc.
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25 September 2024 | 4 replies
However, the Renters' Rights and Stabilization Act of 2024 now caps security deposits in Maryland at one month's rent in most cases, limiting landlords' ability to require higher deposits for higher-risk tenants.
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25 September 2024 | 3 replies
If she violates your notice and refuses to leave, I believe she will lose her voucher and her ability to afford another rental.
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27 September 2024 | 16 replies
Luckily I have the ability to absorb the negative cash flow from my W2 income, and I'm convinced that the area will appreciate in the medium term.Thanks all for your advice, this has been an enlightening thread for me!
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25 September 2024 | 6 replies
Thank you,Nirav Since you already pulled the trigger...and are a limited partner...this means you have the benefits of that (i.e. no liability beyond your investment) in exchange for generally having no ability to vote or have a say in how the investment is managed.
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25 September 2024 | 6 replies
I love the ability to categorize all my spending and split transactions into different categories.
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25 September 2024 | 5 replies
Hi Lilly,Having an LLC has some advantages compared to flipping including the ability to deduct business expenses like mileage and meals, which can lead to significant tax savings.