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19 May 2021 | 6 replies
@Victor Steffen I'm looking for cashflow if possible but I understand that might be a tough task in the market today.
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25 May 2021 | 7 replies
Maybe if you've done 50 deals and they know you are safe, but as a newer investor there are no ways to do this in the real world.In the day before the GFC this is how all OOS turn key worked:WEst coast marketing companies would get buyers ( these folks are still in business as we know)rehabber in the market Pick any turn key market would find a home that they could buy rehab and sell at 65% ARV which today pretty tough but in those days my company did close to 2000 of them as the A and D lender.So we would require ONLY 1k down from the borrower ( so not no money down but pretty close) I would fund the purchase and rehab the rehaber in the market say Detroit Chicago Memphis Jackson KC Indy those were all my markets. would do the rehab and once it was done they would do a refinance now my LA based buyer was already pre approved for the take out ( REFI) Just subject to a 442.. we routinely spun these deals in 90 to 110 days start to finish.. the LA based buyer would then do a 75% cash out refi and pay me off and they would normally pocket about 5 to 8k in cash that was to be used for reserves.. so no money down and actually cash out.My flipper made his money the west coast marketing guys got their commish and I made my fee's on the HML..
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22 May 2021 | 7 replies
However, this is highly audited area and you will see some blocks:1) you need to find a right asset first that you enough depreciation with cost seg. 2) you need to materially participate in that activity.3) your losses might even be limited based other IRS code section. 4) You need to have an audit proof and documentation of real estate professional status.If we are talking about a huge tax bill, I’m pretty sure you would benefit from hiring a good CPA who can cut your tax bill.
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3 June 2021 | 50 replies
Yes, it'd be tough to get them out since they have nowhere to go if your market is anything like mine.
18 May 2021 | 8 replies
However, it seems to be built with less solid material than the main house and has very obvious tilt (two inches).
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16 May 2021 | 0 replies
The effort included a retaining wall design, grading plan, water/ sewer, underground utilities, pollution controls, drainage, quantity of materials and construction specifications.
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17 May 2021 | 4 replies
I was told by my broker that there are supply problems resulting from the pandemic and the sudden drastic increase in constuction materials demand in Florida.
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25 July 2022 | 37 replies
Lot 9 also bought their lot, but with material costs up, are waiting a year or two to build.Lots 4/6/7 raised the price $20,000 each to help pay for the pond, plus they became more desirable with the pond.
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18 May 2021 | 11 replies
It's tough out there!