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19 January 2021 | 10 replies
Here's the details on them:Duplex #1Apt 1: $825/month rentApt 2: $850/month rentP&I: $616.99/monthInsurance: $627/year ($52.25/month)Property tax: $2,240.04 ($186.67/month)Water: Roughly $50/quarter ($17/month)Remaining mortgage balance:$44,502.74 (as of 02 DEC 2020) 6.14%Duplex #2Apt 1: $825/month rentApt 2: $850/month rentP&I: $455.04/monthInsurance: $610/year ($50.83/month)Property tax: $2,581.55/year ($215.13/month)Water: Roughly $50/quarter ($17/month)Remaining mortgage balance: $39,371.83 (as of 02 DEC 2020) 4.75%*For Duplex #1 and Duplex #2, insurance and property tax is paid manually by New Page LLC.
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25 January 2021 | 3 replies
Jaron,I recommend finding an accountant who specializes in real estate taxation over one that is local.
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20 January 2021 | 3 replies
Jose,I recommend finding an accountant that specializes in real estate taxation over one that is local.
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15 January 2021 | 3 replies
Despite an advanced graduate degree in taxation, despite a real estate strategist, despite accelerating depreciation, despite an accounting team taking ever expense and write off legally possible...
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18 January 2021 | 48 replies
I have heard some folks that offer a monthly or quarterly deep cleaning service from a professional cleaning company, I have heard great success from this, and although it eats at your bottom line, it protects your asset, is a tenant satisfier, it’s a differentiator among properties, and it gives the landlord piece of mind.
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19 January 2021 | 7 replies
What must match is that the taxpayer for the old property must be the same as the tax payer for the new property.So many times community and non community property rules get blurred in taxation.
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20 January 2021 | 14 replies
In most situations where you live in one state and have rentals in another the way that taxation works can be a huge surprise gotcha.Most states where you reside will give you credit for taxes paid in other states.
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19 January 2021 | 5 replies
A quarter point on a $386K loan is around $965 a year.
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21 January 2021 | 2 replies
Kenneth, I recommend finding an accountant who specializes in real estate taxation over one that is local.
18 January 2021 | 4 replies
Adjust for taxation effects (e.g., will you be responsible for FICA taxes on the project as you would for selling your services).