All Forum Posts by: Alan Russell

I opened a checking account with a bank then applied for business credit card (had to sign personally). After about 1 year I went back to the bank and applied for a Non-secured LOC (had to sign personally). about 3 months later I opened an account with Lowes (account recievable).

cool I live over in New Bern and would love to take a look when your complete

Those are on shipman right.  I was pondering taking a look at that one.  curious about how it turns out for you

Depending on how long you hold your flips, they may not be Capital Gains but rather Regular income.  My understanding is if you hold them for less than 12 months they are taxed at regular income.

I am not an accountant so I would check with one on this to be sure.

So if you are activily attending school I am under the understanding that you dont have any payments.  Might be worth looing into taking a class so you can defer your payments for a little while?

Empire Jingle "5882300 Empire" and they are probably pretty overpriced actually IMHO

what about taxes and insurance?  Is there any other costs that the owner has to pay vs the tenants, such as water, electric, gas, etc.?

Option 2 is what I am using in my business however, it depends on your own comfort level I think.  

One thing I think I would check on (I am not a tax accountant) is in Option 1 you asked about refi and pulling cash out. My understanding of the current tax laws is that you would NOT pay ANY taxes unless you sell the house. So in that sense this would be a tax deferal and when you sell you would owe capital gains at that time however, in the interim you are not taking a profit by obtaining a loan (neither refi or HELOC).

I never pay a contractor for estimates.  If they want the work then they will do a free estimate and I will pick the contractor that I think is best suited for the job (notice i didnt say "has the best price").

according to FCC regulations you can not tell them they can not have the DISH antenna however, you can require they install it in a way that will not cause damage to your property.  Holes in the shingles qualify as damage.  You can require specific locations (such as the existing pole) as long as it will not affect reception.

If you go on the FCC website they have a paper with all the specific rules and regulations.