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8 February 2024 | 7 replies
That said, there are markets that are stronger, and less hassle of a tax burden, such as Indianapolis.
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8 February 2024 | 1 reply
I know I will be taxed higher on income and it will be harder for me to find financing.
8 February 2024 | 2 replies
Basically kill your deal if they do not like it or feel there is a red flag.If you did not supply a tax return or lease they should not consider it a rental even if you do not own a primary home.
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8 February 2024 | 16 replies
BUT you have less red tape, no tax returns, DTI, or employment checks are required.
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6 February 2024 | 4 replies
I am researching a property that is scheduled for tax foreclosure sale in Wilmington, North Carolina, New Hanover county.The law firm that handles the foreclosure for the county says that the property will come with a “non-warranty commissioners deed” but the paralegal could not really explain what that meant.The law firm also says that they WILL sell me title insurance at the time of purchase.
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8 February 2024 | 3 replies
Calling a broker to get a ballpark like @Chris Seveney said or getting an online quote will always be the most accurate but if you want quick numbers - Nerdwallet has a "by zipcode" feature: https://www.nerdwallet.com/article/insurance/estimate-home-i...If you are working with a loan officer their different systems often auto estimate taxes and insurance as well - so you could ask them.
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8 February 2024 | 10 replies
Now you are looking to buy a property that may be overvalued or have to pay taxes to not do the 1031.Better is to get all important docs in the LOI stage prior to locking selections so you can feel good about the one or ones you plan on closing on.
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6 February 2024 | 4 replies
My understanding on this is that if you build it unpermitted, the benefit at that time is that your property value likely won't increase because the square footage is not assessed to increase the value of your home and therefore the property taxes.
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7 February 2024 | 12 replies
Looking for accountant referrals in the Cleveland/Akron/NE Ohio area with strong familiarity in investment property related tax matters.I'm planning to purchase my first investment property shortly, but I need an accountant to do tax preparation for my current retail business this year (Form 1065) and personal returns.
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7 February 2024 | 4 replies
Background:First-time home buyerUp to $100k for downpaymentOpen to explore different parts of the city or even other statesOpen to leverage FHA or DPAWilling to settle for breakevenReady to close ASAPChallenge:Finding a property that can fully cover the mortgage through house-hacking and breakeven or potentially cash flow in Vegas, or other no-income-tax states.Request for Advice:Scenario 1 - Stay in Vegas and find a property that is viable to house hackHow are people house-hacking in this market?