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22 August 2024 | 2 replies
I would intent to live in the property during the first year when I am in the United States, my wife will live there full time for 8-9 months during that year and I would use the property as a legal primary residency.
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22 August 2024 | 2 replies
For a property to qualify for a 1031 exchange, it generally needs to be held as an investment or for productive use in a trade or business, which typically excludes properties built with the intention of selling.
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20 August 2024 | 5 replies
So basically Ill be paying 12K a year for property taxes on a 320k building.
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21 August 2024 | 6 replies
The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it.We have a 12 page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord.
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21 August 2024 | 73 replies
Maybe start a thread asking for opinions from people who helped them the most….ill start.
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22 August 2024 | 13 replies
In doing this you've likely committed fraud since your entire intention was always to close with the 2nd at 100% LTV...I've watched the video where Pace describes this and in essence he says that treating them as two separate transactions is fine and there's no need to tell the lender.
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22 August 2024 | 2 replies
Vacating a jointly-owned Property: A Borrower may be eligible for another FHA-insured Mortgage if the Borrower is vacating (with no intent to return) the Principal Residence which will remain occupied by an existing co-Borrower.
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20 August 2024 | 15 replies
just curious, because ill use that method next time.
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21 August 2024 | 1 reply
Purchase price: $310,000 Cash invested: $20,000 Bought and lived in while making upgrades with the intention to rent out.
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21 August 2024 | 7 replies
I am not trying to avoid taxes but defer them which I thought was the intent of the 1031 exchange.