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16 May 2024 | 12 replies
Why not sell at a stepped up basis and pay zero taxes Uncle Sam?
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15 May 2024 | 16 replies
You'll want to make sure you understand the K1/tax filing implications because if you own very small piece of let's say 10 properties in 10 different states you would potentially receive 10 K1s (one for each deal) and 'may' have tax filing requirements in 10 states.
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18 May 2024 | 15 replies
DSCR loans typically have higher rates, pre-payment penalties, and may not let you pull as much money out as you would like because they will be based on 2 factors: the appraised value of the home and how well the rent coming in can cover the PITI payment each month (Principal , interest, tax, insurance).
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13 May 2024 | 9 replies
when looking at real estate websites, oftentimes I see "offers due by" some datefor example "offers due by may 12"what does this deadline mean?
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16 May 2024 | 5 replies
On the 14th she asked me to give her a 3 day notice to vacate because no organizations were willing to help without it, but I didn't provide one because I had moved her due date to the 18th so she wasn't late yet.
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16 May 2024 | 6 replies
If your bookkeeper and tax pro like Quickbooks, you should use that.
15 May 2024 | 8 replies
An easy math example is $1,250 of rent needs to support $1,000 of mortgage, property taxes and insurance and HOA (if applicable).
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15 May 2024 | 16 replies
I don't know the numbers on your property, so I'll create a hypothetical:Assume your principal and interest on a $300k loan is $1,263.You're sitting on the potential to get $155k (tax free, btw), but the rate will be 7.5%, taking you're principal and interest to $2,100.Yes, it's $900/month more, but you have $155k of tax free money in the bank.
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17 May 2024 | 8 replies
Though we can do that, LLC is preferred by most of my clients.o Individual credit will be used for determining max leverage (80% LTC is highest available) and interest rate.o Personal income, taxes, and debt-to-income ratio will not be utilized.
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17 May 2024 | 6 replies
.- Analyze Deals Thoroughly: Once you identify potential properties, conduct thorough due diligence and financial analysis to ensure they meet your investment criteria.