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1 September 2018 | 18 replies
Ok I have a few questions in regards to my taxes and am hoping someone could help answer them or point me in the right direction!
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10 September 2016 | 2 replies
Owner will pay all taxes and insurance on property until you purchase property at end of the term8.
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10 September 2016 | 5 replies
Figure your PM at 8- 10%, you will have garbage, lawn/ snow maintenance, water sewer, your taxes, insurance and loan payments. if there is common hallway or outdoor lighting, is it metered separately, if so, you will have that expense as well.
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9 September 2016 | 1 reply
The Revenue Code allows an LLC to be taxed in many different ways: a corp, partnership, disregarded entity.
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9 September 2016 | 1 reply
Just curious if anyone uses a website other than county tax websites to obtain accurate data for a yellow letter campaign.
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9 September 2016 | 1 reply
Based on where the properties I have purchased are located (PA) I would be required to pay a significant transfer tax to move them into the LLC at this point.
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13 September 2016 | 9 replies
Most reputable turn key companies buy distressed properties further upstream (i.e. auctions, tax sales, etc) at much better prices than the average individual.
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9 September 2016 | 8 replies
My experience is that I can rent a two bed/one bath upstairs apt for $650/month.Mortgage - $300 (assumption is conventional loan...this is variable)Maintenance - $32.5 (5%)Management - $65 (10%)Property Tax - $50Total Expenses - 447.5Net - $252.5Quite honestly, I think I could make these numbers look better (refinance my duplex and get cash out for much less for example), but I'm curious what others think.I should probably state that my goals for right now are horizontal income without too much work.
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9 September 2016 | 3 replies
Probably used him 3-4 times, and this was a referral. 1 closing we had, he didn't catch the tax rate was too low, and we had to pay the city out of pocket.
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9 September 2016 | 2 replies
.-6-units fully rented ( 2-1bdr/1ba, 4-2bdr/1ba)-Sale Price to end buyer = $420K-Yearly rent = $72K-Yearly expenses = $21K (includes taxes, utilities, insurance, garbage, exterior maintenance)-NOI = $51K/yr-CAP Rate (NOI/Price) = 12.14%Please let me know what you think!