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11 July 2024 | 24 replies
Best, I'm looking into a bridge loan at the moment, and figured I'd move them to an LLC later.
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8 July 2024 | 6 replies
@Jesse BennettWe have tried this and it did not provide us any better results
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7 July 2024 | 17 replies
I’ll send you the info please do, I'd like to see the styles I think I could provide some additional context.
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8 July 2024 | 1 reply
Hi Victoria,To sell your property and notify your month-to-month tenants, you should provide them with a written notice to vacate.
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8 July 2024 | 3 replies
Back in Washington where we fix & flipped properties I did anything from general contracting from demo to finishing touches, managed project budgets & timelines to stay within our projections and SOW, raised capital for down payment on hard money loans, interest on loans and rehabs, worked with my hands (best at flooring, trim, caulk, cabinets, fences, punch list items) and was the real estate agent for acquiring and selling our flips.
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8 July 2024 | 0 replies
I was thinking I would need to get a hard money loan to cover that, and it would eat up most of the rest of the cashflow and then I would look to refinance within a year or two.
5 July 2024 | 5 replies
I have a vehicle loan(conditional sales contract) of 60,000.
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8 July 2024 | 2 replies
This separation helps in maintaining clear financial records and simplifies tax reporting and financial management.Setting up an escrow account specifically for rental income within your LLC can offer several benefits:Financial Clarity: It separates rent payments from other operational expenses, making it easier to track income and expenses related to the rental property.Legal and Compliance: Helps in demonstrating that rental income is kept distinct from personal or other business funds, which can be important for legal and tax compliance purposes.Tenant Transparency: It provides transparency to tenants and other stakeholders regarding where rental payments are deposited and how they are managed.While it may not be a legal requirement in all cases, maintaining an escrow account specifically for rental income is a prudent practice that many experienced investors and landlords follow.
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7 July 2024 | 9 replies
@Eli KingOnly FHA, VA and USDA loans may be assumable.
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8 July 2024 | 3 replies
The rental property itself provides the tax benefits and not necessarily the entity structure.Depreciation should wipe out your cash-flow from being taxed, especially given the high prices of properties right now.You should have your tax returns reviewed if your properties are reporting positive taxable income.