18 May 2024 | 1 reply
My guess is the S Corp hasn't been kept current...Get a copy of the Trust/will/ whatever you can.These problems can cost a fortune.
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17 May 2024 | 7 replies
We're considering our options for moving forward.Numbers:Purchased for ~ $230,000 (2.5% interest)Remaining balance ~ $220,000Appreciated to ~ $400,000Cash flow is ~ $500 a month after setting aside for all reservesOptions we're considering:1- Cash out refinance- at current market rates, rough estimate is that we could access close to $100,000 in equity, but our cash flow would go to $0 or possibly negative for a period.2- Sell now - if we sell before the end of the summer, we could still qualify for living in the property for 2 out of the last 5 years for the additional tax benefits.
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17 May 2024 | 3 replies
Currently under contract for a large off-market residential property.Quick details: 4,200+ sqft 12bed / 5bath (2 kitchens) (No a flood zone)(Light - Medium rehab / rent-by-the-room play)My partner has been a PM in this community for 20+ years and is highly confident in this deal (as am I).The current issue is, we aren't confident the property can close with a bank due to a few seller complications.( ^Very long story, but if you want to hear it I will tell you haha)We're looking to over-raise about $335k ($255k purchase and $80k for the rehab).But we (and our contractors) know the rehab portion will come in a bit lower.Can anyone point me in the right direction?
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18 May 2024 | 11 replies
Stessa isn't that popular currently due to some reconciliation problems - last time I checked.
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17 May 2024 | 11 replies
I am looking at my first rental property investment, with the current rates and San Diego pricing cashflow is very hard, so I wonder if I should remove tax property and insurance from my cashflow calculations as they are 100% deductible at some point.
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17 May 2024 | 4 replies
Currently she is on gov. assistanceI know I am going to need to speak with a lawyer on this but my question is, is there a way to avoid tax implications if we do combine households, due the substantial amount of equity that is in the property.Any ideas or input would be welcomed.
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17 May 2024 | 2 replies
Purchase price: $500,000 - 19 occupied spaces, currently grossing ~$6,900/mo- 9.5 acres with enough septics and wells (and approval from the county) to have a total of 44 pads!
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17 May 2024 | 1 reply
Hello,A friend of mine asking how to deal with a property after foreclosure when the title search shows two current vested owner.The first one undivided 98% interest and the second one is an undivided 2% interest as tenants in common.
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17 May 2024 | 2 replies
I am moving from my current home to a new home.