Kenji Tominaga
County Mortgage Tax paid by the Buyer?
Hi masters,I have a question about the county mortgage tax when purchasing a property.I'm quoting a mortgage from 3 lenders for a small multi-family in Bushwick/Ridgewood area (Brooklyn NY), and one of them estimated ...
Bryant Mortimer
Converting a two unit condo into a legal duplex
I am hoping someone has experience or insight into converting a two unit condo building to a legal duplex. I am familiar with the duplex to condo conversion but I am having a hard time finding any information the othe...
J P.
Need some Help/Advice on Properties on LEASED LAND~ Benefits? Downfalls?
Hello~ I am in the market for a home in Orange County California and have seen some decent deals on some town homes and Condos but most are on Leased Land~ I was wondering what some of the benefits and downfalls there...
Jerry N.
Cook county affordable tax credit
Hello, Any private owners on here have personal experience with renovation spend and then qualifying for IHDA tax credits? This is in Cook County, not the city, but it doesn't seem like there is an Illinois specific...
Salvatore Trapani
Transferring Members of an LLC - Tax Consquences
I'm currently managing a commercial (15-unit residential) building in the Bronx, NY that is held under an LLC by a 100% sole-member.The member is looking to fully transfer the corp. stake to a family member, making th...
Jasper Cangelosi
Buying my Fathers multi-unit apartment building
My dad has been talking about selling his small 16 unit apartment building, we both have decided that I will take over the complex and he would even owner finance to keep it in the family. Is there a good way to make...
Winston A.
Purchase cost relating to Loan
Hello,
I bought a building for $200,000, and was wondering if add the purchase cost to the building before OR after the allocated building % is applied.
VERSION #1
Purchase Price: $200,000
Purchase Costs: 5,...
Juan David Maldonado
No woman, No Cry, Using Property Owned As Colleterial
Hey, everyone. I own five acres of land that is paid off. Nothing is build on the land. The value around $20k according to the local tax office. Can I use it as colleterial for a loan to add to the down payment amount...
Mike Hoefling
Depreciating a Rental Property
As I am getting ready to do my taxes this year I started thinking about the depreciation for my rental property. I know the standard is to depreciate the rental property over 27.5 years but since I don't plan on ownin...
Account Closed
More Starts
I was in the building department yesterday and the clerks there told me that they have seen a big increase in building permits issued this month (a big increase from zero might not be much, but certainly better than n...