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10 April 2020 | 0 replies
I know it makes more sense for legal protection, taxes, etc to have these properties under an LLC, S-Corp, or another legal business, but I'm not sure what that process looks like.
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10 April 2020 | 3 replies
Ron legrand mentioned optioning the property to myself for a low amount to get it into a tax protected IRA account.
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12 April 2020 | 8 replies
In other words, conventional lending happens in an environment where each party is acting in their own interest, not the interest of the other; the lender will want to see a sales price based on appraised value; the desire to provide a great price for a family member can get in the way of establishing a loan on appraised value, this is especially true if the purchasing relative has little or no down payment; family members may "gift" equity in a transaction to reduce the amount of mortgage money required, the lender must still be satisfied about appropriate value to protect their loan, gifts have tax consequences and IRS guidelines govern gift amounts. 9.Seller-Assisted Down PaymentsNonprofit groups formed in recent years offer down payment money to certain buyers; the payment is linked to a contribution to the nonprofit by the seller, but the pathway is not hurdle-free, assisted down payments may be barred in certain situations; simple and attractive way to secure a buyer who is otherwise qualified but struggling to find down payment money; nonprofit provision becomes part of the purchase contract; nonprofit receives the contributed amount, plus a processing fee, from the seller and sends the funds directly to closing as a credit to the buyer; the funds do not go directly to the buyer; sellers may be tempted to increase the price of their property to pay for the down payment assist.
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19 July 2020 | 13 replies
https://portal.ct.gov/Office-of-the-Governor/News/Press-Releases/2020/04-2020/Governor-Lamont-Signs-Executive-Order-Providing-Residential-Rent-Protections?
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5 August 2020 | 5 replies
Hi @Suzanne Player, We do not anticipate any further extensions of time for 1031 Exchange transactions.
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13 April 2020 | 2 replies
Hello,
Hope everyone is doing well during these testing times!!!
I have a question regarding Homeowners insurance vs DP3.
We have moved to our new home and wanted to rent our old primary home. We are ready for Home...
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13 April 2020 | 7 replies
In these scenarios, business interruption insurance could provide some protection.
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3 December 2021 | 33 replies
That said, our rental is a single family home which I think is better protected since renter's can stay at the home and not have to be around anyone unless they want to.
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23 April 2020 | 18 replies
I would definitely consider hard money again, but this time I'd try to put something in contractually in the commitment letter to protect my out of pocket costs, explain even better every single aspect about the property, etc. so that the underwriting is more based on objective data than simply someone's opinion.
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11 April 2020 | 6 replies
Non-emergency repair requests or other phone business ---> IVR phone menu, leading to voicemails or secretaryI think the agent is the key player, and the rest can be delegated or handled personally without much headache.