Jokari Trueheart
Meeting of the Minds, Lending Strategies Needed
3 February 2025 | 5 replies
Quote from @Jokari Trueheart: HI, almost 11 months ago I purchased 3 duplexes and I borrowed the funds from my personal residence which I took out a equity agreement for the down payment on the investment property, great idea at the time because I have 10 years to pay it off and theres no payment requirement, but , I learned more about the consequence that it takes a large chunk of my equity the longer I take to pay it back, so my goal was to refi cash out the investment property to pay it back but I don't think theres enough equity yet to pull the full $106k needed, I only borrowed $88k but with the equity percentage for one year i'm paying about $18k in equity on top of the amount I borrowed if I pay it off in year one, so I need this paid off ASAP before it increases more.
Ross Derouen
CPA for first time short term rental investor
9 February 2025 | 2 replies
You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.Good luck.
Ken M.
How To Buy Distressed Properties "Safely' Using SubTo and Wraps
29 January 2025 | 1 reply
There are serious consequences if things go badly.
Walter C.
Should I give reason for ending tenancy?
5 February 2025 | 1 reply
Outside of the letter you should explain the consequences of an eviction.
Ross Derouen
CPA For First Time Short Term Rental Property
9 February 2025 | 3 replies
You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.Good luck.
Matthew Mclean
First time Rental homeowner doing taxes
8 February 2025 | 8 replies
You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.Good luck.
Drake Backman
Newbie trying to learn the ropes
5 February 2025 | 4 replies
You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.Good luck.
Ryan Brown
How to deal with ignorant tenants?
6 February 2025 | 7 replies
Send a document once and ensure it includes a deadline for their response and a consequence for failing to respond.
Anirudh Reddy
Who can claim interest paid on a seller finance property?
4 February 2025 | 17 replies
This contract (as far as I understand, albeit I'm not an attorney) transfers the legal responsibility to the buyer, and then my answer on tax consequences stands: interest deduction belongs to the buyer.B.
Kory Sheldahl
Contacting the commanding officer of a military tenant that is chronically past due
7 February 2025 | 4 replies
But yes, now that we are here, maybe let him know that if things do not get up to date or cleaned up you will go to his superiors.When people are late right at the beginning, I let them know that the behavior is not acceptable and let them know there are consequences to that bad behavior.