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25 July 2021 | 10 replies
The Midwest Summit is an excellent event to connect with other investors.
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6 March 2020 | 31 replies
What they consider to be a deal will likely be different from your definition, that's why it's preferable to them to provide with more options that don't necessarily fit your criteria as opposed to handpicking one or two and potentially missing out on an opportunity you would have considered.
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5 March 2020 | 35 replies
I offered to pay first month's rent at a new place, but not opposed to doing more.
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22 March 2020 | 2 replies
Joseph, that depends on your risk tolerance and what plans you have for the property in the event it requires a complete rebuild.
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4 March 2020 | 1 reply
I had coffee with a great fix/flipper yesterday and looking forward to meeting many other great people in the real estate world.My first post was deleted for not following the rules so hopefully 'looking forward to meeting people' doesn't break the BP laws of introducing myself.Hope to see New England REIA Members tonight at Nick Aalerud's deal flow talk/event.
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5 March 2020 | 3 replies
Generally if you average 7 or fewer nights or 8-30 nights and provide "substantial" services such as tours, house cleaning during a stay, meals, etc you DO have to pay self employment tax.Kudos to this CPA site (tarlow. com/2018/01/02/tax-ramifications-short-term-rental/):"When property is rented for short periods, special (and sometimes complex) taxation rules come into play, which can make the rents excludable from taxation; other situations may force the rental income and expenses to be reported on Schedule C (as opposed to Schedule E).If you have been renting your home or second home for short periods of time, here is a synopsis of the rules governing short-term rentals so you can prepare yourself for the upcoming tax season.Rented for Fewer Than 15 Days During the Year: If you rent your property for fewer than 15 days during the tax year, the rental income is not reportable, and the expenses associated with that rental are not deductible.
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10 March 2020 | 3 replies
@Jeff Rappaport (I met him at a UREAI event in Sandy) and Jeffrey S Breglio are very knowledgable, and here on BP.
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21 March 2020 | 42 replies
@Fay ChenThought about this but the risk of the 7k per month mortgage after we’d refinance is too much for us to bear at this point (I.e vacancies and unexpected events/repairs).
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5 March 2020 | 5 replies
The solution is to find a different area (market) to invest in.Second, what you are describing as a plan, is not a plan...that's a series of events.
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30 March 2020 | 29 replies
Because I don't have time to attend multiple networking events every week.