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15 January 2025 | 7 replies
We also offered to help them find new housing, relocate them for free and help in any other way we could.
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30 January 2025 | 5 replies
Vaughan, did you tell him he said he would do it for free?
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1 February 2025 | 0 replies
Here are five dangerous provisions to watch for in an Operating Agreement:Dangerous Provisions to Watch:Authority to incur debt without investor approvalPower to make loans to other entities/projectsAbility to cross-collateralize with other propertiesPermission to use investor capital for other venturesCommingling of funds across different projectsWhy These Are Potential Ponzi Indicators:• New investor funds could be used to pay existing investors• Project-to-project lending can mask poor performance• Cross-collateralization puts your investment at risk for others' failures• Commingling enables masking of financial problems• Lack of project segregation enables fraudulent schemesProtective Measures to Look For:Strict single-purpose entity requirementsProject-specific bank accountsDebt limitations and investor approval requirementsProhibited related-party lendingClear fund segregation requirementsProfessional Best Practice:Request bank statements showing separate accounts for each project.
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29 January 2025 | 24 replies
Lenders often have strict policies when a property is in a FEMA-designated disaster area to protect their risk, even if the property isn’t directly impacted.
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3 February 2025 | 9 replies
Offer to do his inspections for free in exchange for some education on how to find, analyze, and fund deals.
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18 February 2025 | 8 replies
I don't know - seems like we need to just let it go at this point or risk ruining the relationship with the landlord and making our lives miserable as tenants...
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12 February 2025 | 7 replies
It has a free plan that I think will meet my needs.
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6 February 2025 | 1 reply
.- To utilize the Mills Act requires a few things: An application (not free), inspections, and most importantly a contract with the city in which you promise to rehab and maintain the historic nature of the property.- The inspections are only 5 years, but tenants are not likely to take care of them home as well as you, and refurbishing hardwood, lath and plaster, and anything else is going to be much more expensive than the typical Landlord special (white paint, and grey LVP)It will all come down to making your numbers work.
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21 February 2025 | 0 replies
Benefits of the ATI ExemptionThe ATI exemption offers several key benefits:Reduced Tax Burden: By lowering the assessed value, property owners can significantly reduce their property tax bills, freeing up resources for other investments or operational expenses.Encourages Investment: For real estate investors, the exemption makes South Carolina a more attractive market by reducing the tax impact of property acquisitions.Substantial Tax Savings: The reduction in taxable value can lead to considerable property tax savings over time.Multi-Year Benefit: The exemption can apply for up to five years after the sale (based on SC revaluation cycles).Wide Applicability: It’s available for various types of properties, including multi-family projects, commercial properties, and even vacant land for development.Who is Eligible for the ATI Exemption?