Mike Schorah
How do you extend (a) contract(s) for wholesaling assignments?
Do you need two addendums? One to extend the Purchase and Sale Agreement and one to extend the Assignment of Contract?
Or do you need just one addendum which is to just extend the Purchase and Sale Agreement?I’m sure...
Melanie Baldridge
IRS Form 3115
What a lot of people think:
Bonus depreciation is only for new properties or acquisitions.
The truth:
You can retroactively apply bonus depreciation to property placed in service after September 27, 2017, when the ...
Sean Christensen
Amending an LLC's to Reflect as a Series LLC in Delaware
Hi Everyone,My business partner and I currently have our REI business set up under an LLC in Delaware, and we want to be able to place each property under its own LLC to help protect the other properties from litigati...
Bill Exeter
The Housing and Economic Recovery Act of 2008 Amends Section 121
The Housing and Economic Recovery Act of 2008 includes a provision that modifies Section 121 of the Internal Revenue Code, which is often referred to as the 121 exclusion.
The 121 exclusion allows a homeowner to ex...
John Fuex
Should I be amending my standard lease agreement due to COVID?
I have two single family rental properties and at least one of them will turn over tenants in the next few months (normal attrition, not related to COVID). I'm looking at the standard lease agreement I have used for y...
Cameron O'Connor
Flood Zone - Any information on a Letter of Map Amendment (LOMA)?
Flood Zone's are often talked about as the hatred zone. The no-go zone. But I've recently been reading about FEMA's Letter of Map Amendment (LOMA). Has anyone been issued a LOMA? How was the process? Is there any poss...
Patrick Britton
HOA and rental restrictions
Hi,I'm the listing agent for a condo whose HOA is making a rather unusual demand. They are "requiring" that all sales be made to owner occupants only, no more investors, no more landlords. Normally, if in the condo'...
Jas Sarn
Partial 1031 Exchange
I am looking for a 1031 exchange to sell one property in California / SF Bay Area to multiple properties in other states.I bought the home for $200K. It is worth now $600K. I plan to invest the $400K of gains in poten...
Terry B.
2nd appraisal issue... do I have recourse?
Situation is below... anyone had success getting an appraisal amended or changed?
Most of my projects are purchased, rehabbed and sold within 90 days, so the need for a 2nd appraisal is not a surprise to me... howeve...
Tracy Tang
Adding resident to the lease
Good day everyone!I have a bit dilemma. Currently I have a lease for Single Residential house with three people on it. They applied through property management and signed the lease through them. I am no longer retain...