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8 February 2021 | 3 replies
There was a loophole that owners used to do what you are suggesting, but in 2001 it was closed by SB 985 requiring the subdivider to actually sell the units before the protections are enacted on a property.
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27 March 2021 | 74 replies
Even if they sign the form, they are required to attempt to pay some rent each month, and meet all the requirements outlined in the document.
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29 January 2021 | 5 replies
I am attempting to refinance a hard money loan for a1) bundled loan holding multiple SFRs2) in my LLC (I'll personally guarantee it, but I want the LLC holding the loan and building that credit)3) with no minimum loan per property or else a minimum of $30,000 or less4) for a fixed rate at least 20 years or at least a 5 year ARM with amortization over at least 20 years if not 25 or 305) to me a Virginia resident, so an out of state credit union or bank would need to grant me membership as a non-local person6) for properties in Alabama, so willing to lend out of state if it's not an Alabama bank/credit union7) and is not a hard money lender (their rates are too high, I want 5ish or less).Needless to say, it's tough to find a lender willing to accommodate all of these conditions.
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3 February 2021 | 2 replies
Due to COVID-19, court closures, resulting heavy dockets, and attempts of mediation, we lost eight months of rent plus added eviction fees.
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29 January 2021 | 2 replies
I have both my pre-approval letter and my COE.I came across 4 individual homes on 2 parcels of land.All 4 homes are occupied generating about $2500 monthly in income.Can anyone one tell me what to expect as a first time homebuyer attempting a multi-family purchase using VA?
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30 January 2021 | 7 replies
I have been crunching some numbers and it actually doesn't make too much of a difference to really be even worth attempting to go down that path.
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29 January 2021 | 0 replies
I don’t know how long I should wait before attempting to find an entry-level accounting job, or an accounting paid internship.
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1 February 2021 | 8 replies
I’m attempting to buy a 4 unit multi family in the Augusta GA area, and I’m looking to get an FHA loan for financing.
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31 January 2021 | 10 replies
The IRS was actually going line by line in bank statements and attempting to match it to specific entries in his spreadsheet, like $307.50 at Lowes on the credit card matched to the line in Spreadsheet for $307.50 for a new stove on Project ABC?
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1 February 2021 | 7 replies
From my own research, it seems that the main two scenarios where this can be done is 1. if you own your own business and attempt to buy the building/office space (under a different entity) and your operational business pays rent to that newly formed entity (LLC/S-corp) that holds the commercial unit and 2. under a self directed IRA that buys the property.I am wondering if there is a way to buy investment residential rental RE with pretax dollars in any way?