Posts Tagged ‘Assets’
Tuesday, December 30th, 2008
P. D. asked: What does it take to qualify to buy investment property? At a discounted rate (because of the times). What kind of credit/assets/day job income/present mortgage does the bank look for? Will my main home be in trouble?
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Tags: Assets, Investment Property, Mortgage, Rental Property
Posted in Renting Real Estate | 7 Comments »
Wednesday, December 24th, 2008
ANyone but you asked: is valued 80k below the mortgage amount due to the market meltdown.
My question is, can the bank come after my assets other than that house (savings, mutual funds, other property)?
Thanks for the info and plz provide relevant sources if available.
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Tags: Assets, Investment Property, Mutual Funds, Relevant Sources
Posted in Renting Real Estate | 2 Comments »
Saturday, October 4th, 2008
jbryniar1 asked: I bought a property as a primary residence in 2004 (residence A). I lived there until 10/10/2006, when I moved into a new primary residence home (Residence B). I place my original residence (A) up for rent. I did not find a renter until after January in 2007. My question is can I still file Schedule E in 2006 and take a loss for the residence A? I do know I would have to prorate the portion I lived there in schedule A and the portion of the year I had it for rental in Schedule E (if I am allowed to show I received no rental money). Also, for depreciation, what should I use for the value of my home (and for other things, like appliances, or other assets in the home)?
Thank you.
John
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Tags: Assets, Depreciation, Home Residence, Renter, Value Of My Home
Posted in United States | 2 Comments »
Sunday, July 27th, 2008
xxx x asked: I am wandering, if you have more then 1 home and other property such as land and cars; if u foreclose on one of the homes will the lender have the right to target your other properties to pay off your loan with them? and lets say you owe more then the value of the house will you owe that difference even after foreclosing! I am in CA.
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Tags: Assets, Cars, Foreclose, Foreclosure
Posted in Credit | 4 Comments »
Friday, July 18th, 2008
Mike C asked: Say the property was $200,000. And through an LLC can I finance the $200,000 as a new LLC without any company credit or assets. Say that they want %10 down also. Could I personally garauntee the $20,000 myself and lend that to the LLC. So then the LLC can make the down payment. So if i did it that way could I then finance the other 90% with the LLC. Cause I was always under the immpression that commercial rental properties are not valued like a home. That the loan is based on the actual property itself(the value of the building). So the loan amount wasn’t based on assets that the LLC already had, but that it could be based on what the building was worth. Please help. thankyou
closing fees and transaction fees realy has nothing to do with it. You can get the seller to pay or you can finance them in with the building. thanks though
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Tags: Assets, Commercial Rental Properties, Finance, Llc, Transaction Fees
Posted in Renting Real Estate | 3 Comments »
Monday, July 14th, 2008
mike936 asked: We have a rental house that we have had for several years. In 2006 I formed an LLC and put the rental property in it. This was done to protect our other assets in case of legal action. We have always used sch E to report our income from this property. Now that it is in an LLC do I need to use Sch C and/or form1120? And is there any other forms that I need to use. I have always done my own taxes using Turbo Tax Premier. We don’t really have any other complex tax issues besides this property and don’t really want to pay an arm and a leg to have this prepared.
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Tags: Assets, Rental House, Rental Property, Tax Forms, Tax Issues
Posted in United States | 2 Comments »
Friday, May 11th, 2007
inspector4homes asked: now. They moved out about 2 months ago. I really want to do this for the principle of it and to make their life miserable. Should I pursue this or just back off and tuck my tail?
If I pursue this, how long do I have to do this?
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Tags: Assets, Landlords, Principle, Section 8
Posted in Law Ethics | No Comments »
