3 April 2021 | 5 replies
Landlord due diligence should include verification of identity (copy of a valid, unexpired Federal or state government photo identification), criminal records search, credit report, prior employment history, State licensing agency, if any, search, the Better Business Bureau, Internet and social media search, and trade references.In my State only licensed Real Estate Brokers may act as property managers.
3 April 2021 | 3 replies
I'm a bit confused though I might have to pay taxes on it before I gift that to her...Those are my two ideas, as our loans are done privately through discovery aside from 10k in federal loans, I wasn't able to find any tax exemption for education.
25 September 2020 | 6 replies
With rentals, you can definitely reduce your taxable income on non rental income hint.
23 September 2020 | 8 replies
Because state and federal eviction moratoriums apply to non-payment of rent, how can we reduce the amount of 'rent' being charged?
25 September 2020 | 10 replies
Hey Robert - so I have been renting about a dozen units to tenants with section 8 vouchers here in NY for roughly ten years.Section 8 is a federal program so I'm assuming the guidelines are national but obviously you have to check.#1 Yes.
25 September 2020 | 4 replies
One more question, when it comes time to transfer money between the two business, let's say the s-corp has money and I need to fund the LLC, do I need to take the money as taxable income and then transfer it into the LLC?
21 October 2020 | 22 replies
They are underwriting to perfection that rents with improvements will keep going up, up, up.Depending on who gets into office if federal mandates are pushed across the country for residential house and multifamily tenant protections it could really hurt the investors stability to cash flow and increase operating costs.Multifamily is a game of musical chairs right now with those being bought existing and in new development some will still land on a soft cushion and others will fall on their butt.Class A tends to go downhill on a down cycle.
28 September 2020 | 8 replies
However, there is still the federal moratorium in effect until the end of the year.
28 September 2020 | 4 replies
If your 1031 fails, all the gains become a taxable event.
28 September 2020 | 3 replies
Depending on what year the gift takes place the amount that is taxable over the exempt amount changes with the political ebb and flow of lower taxes vs higher taxes.Whatever the tax rate at the time, the gift tax will impact both of you.