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27 January 2017 | 1 reply
However there are several exemptions under to the non qualified usage time listed: https://www.irs.gov/publications/p17/ch15.html https://www.irs.gov/pub/irs-pdf/p523.pdfThat indicate that Any other period of temporary absence (not to exceed an aggregate period of 2 years) due to change of employment, health conditions, or such other unforeseen circumstances as may be specified by the IRS does not count as non qualified use.
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28 January 2017 | 11 replies
Having owned and operated a small business, I found that setting long term goals, action plans to get there, and re-assessing those goals and plans on a regular basis helped me tremendously.
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27 January 2017 | 5 replies
These are all signs of the health of a neighborhood.
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27 January 2017 | 6 replies
The generalist doesn't have the knowledge a specialist does so they can make costly mistakes or things they didn't know to check for.Credit rating of a tenant is one item to check for, corporate or franchisee, liquidity and net worth, expansion plans and debt loads, health sales to rent ratio for business model, and on and on.
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27 January 2017 | 7 replies
I was thinking along the lines of you being an investor on your own, but it seems like you're buying properties on a regular basis.I'm sure you know the best incentive for the listing agent is making more commission.
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28 January 2017 | 5 replies
The three exemptions listed are Any portion of the 5-year period ending on the date of the sale or exchange after the last date you (or your spouse) use the property as a main home;Any period (not to exceed an aggregate period of 10 years) during which you (or your spouse) are serving on qualified official extended duty: As a member of the uniformed services;As a member of the Foreign Service of the United States; orAs an employee of the intelligence community; andAny other period of temporary absence (not to exceed an aggregate period of 2 years) due to change of employment, health conditions, or such other unforeseen circumstances as may be specified by the IRS.I am trying to figure out if exemption 3 is applicable if you go over 2 years, and you would be trying to figure out how much of exemption 1 applies to your situation.
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14 February 2017 | 8 replies
My business is real estate, but on the securities side.My feedback to you is there are what feels like a million realtors in Bend already, the market swings high and low regularly so there are really big highs and really low lows......coming to Bend to start a secondary RE practice might be really difficult.
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29 January 2017 | 6 replies
It doesn't do any harm if undisturbed, but if it's in the ceiling and you go to remove it, it becomes a serious health hazard.
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27 January 2017 | 4 replies
When an IRA engages in a trade or a business on a regular basis, such as flipping houses, a tax known as UBIT applies.So, a leveraged flip is pretty tax intensive under an IRA.Note that passive earnings such as interest or rent from real property do not have these tax implications.
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29 January 2017 | 21 replies
Im not sure about other mortgage servicers however, most that I've read on their guidelines to remove PMI including from the mortgage company I work at currently are below (Fannie & Freddie conventional):- when you reach 80% of the ORIGINAL purchase value you can request to remove PMI however a BPO (brokers price opinion aka cheap & dirty version of a regular appraisal) will be needed to verify the property did not decrease in value- If you've done improvements (sounds like your story) you can request a BPO to verify your loan is at 80% of current market value (ARV) which can go from regular BPO price of 150-175 dollars up to regular appraisal if interiors need inspection as well (interior & exteriors = regular appraisal 450-550).- if the loan is atleast 2 years old (paid on time of course) and not more than 5 years old the borrower can request a BPO if the borrower believes the value has increased enough based on market value alone to remove MI but the requirement for this market value only increase is 75% LTV or lower based on the current BPO (so in essence you need 25% equity on current FMV - fair market value).- for the above 3 scenarios payments must be current with no 30 day lates in the past 12 months or 60 day lates in the past 24 months (on the current mortgage or "other," credit too)What is interesting is the above only applies to 1 unit properties because 2-4 unit properties its the same as the above except the requirement is 35% equity or 65% LTV (same).