[SK in CV]

Ask for amateur advice ….you get amateur advice.

Please, see an attorney and/or a CPA. Much of this advice is just plain wrong.

F’rinstance:

LLC’s and corporations are NOT the same.

Selling the stock in corporation (or LLC) who’s only asset is a piece of real property WILL trigger a reassessment for property tax purposes.

Multiple LLC’s are NOT necessary in most cases, and are simply a waste of money, for both the fees and the administrative costs. (This is certainly the case if you’re planning on buying a few SFR’s)And there are what may be significant tax implications that are different between individual ownership and LLC or corporate ownership.

And what nobody has mentioned. While the limited liablity afforded to LLC’s might be a good idea, an even better idea is to buy insurance. Umbrella policies are cheap cheap cheap. Insurance coverage is the first, and usually the ONLY thing that plaintiff attorneys look at, unless you have been grossly negligent and there are extraordinary damages.

[SK in CV]

Ask for amateur advice ….you get amateur advice.

Please, see an attorney and/or a CPA. Much of this advice is just plain wrong.

F’rinstance:

LLC’s and corporations are NOT the same.

Selling the stock in corporation (or LLC) who’s only asset is a piece of real property WILL trigger a reassessment for property tax purposes.

Multiple LLC’s are NOT necessary in most cases, and are simply a waste of money, for both the fees and the administrative costs. (This is certainly the case if you’re planning on buying a few SFR’s)And there are what may be significant tax implications that are different between individual ownership and LLC or corporate ownership.

And what nobody has mentioned. While the limited liablity afforded to LLC’s might be a good idea, an even better idea is to buy insurance. Umbrella policies are cheap cheap cheap. Insurance coverage is the first, and usually the ONLY thing that plaintiff attorneys look at, unless you have been grossly negligent and there are extraordinary damages.

[SK in CV]

Ask for amateur advice ….you get amateur advice.

Please, see an attorney and/or a CPA. Much of this advice is just plain wrong.

F’rinstance:

LLC’s and corporations are NOT the same.

Selling the stock in corporation (or LLC) who’s only asset is a piece of real property WILL trigger a reassessment for property tax purposes.

Multiple LLC’s are NOT necessary in most cases, and are simply a waste of money, for both the fees and the administrative costs. (This is certainly the case if you’re planning on buying a few SFR’s)And there are what may be significant tax implications that are different between individual ownership and LLC or corporate ownership.

And what nobody has mentioned. While the limited liablity afforded to LLC’s might be a good idea, an even better idea is to buy insurance. Umbrella policies are cheap cheap cheap. Insurance coverage is the first, and usually the ONLY thing that plaintiff attorneys look at, unless you have been grossly negligent and there are extraordinary damages.

[SK in CV]

Ask for amateur advice ….you get amateur advice.

Please, see an attorney and/or a CPA. Much of this advice is just plain wrong.

F’rinstance:

LLC’s and corporations are NOT the same.

Selling the stock in corporation (or LLC) who’s only asset is a piece of real property WILL trigger a reassessment for property tax purposes.

Multiple LLC’s are NOT necessary in most cases, and are simply a waste of money, for both the fees and the administrative costs. (This is certainly the case if you’re planning on buying a few SFR’s)And there are what may be significant tax implications that are different between individual ownership and LLC or corporate ownership.

And what nobody has mentioned. While the limited liablity afforded to LLC’s might be a good idea, an even better idea is to buy insurance. Umbrella policies are cheap cheap cheap. Insurance coverage is the first, and usually the ONLY thing that plaintiff attorneys look at, unless you have been grossly negligent and there are extraordinary damages.

[SK in CV]

Marriage is a state institution.

Has been since states began issuing marriage licenses. States use the same word as religion, but neither has the right to claim ownership of that word. (There is nothing “sacred” about the word.) My religion has no problem with Adam and Steve. Time for everyone to get over arrogant superiority syndrome.

Hopefully this landmark decision will encourage another 48 states to follow, along with the repeal of the draconian federal defense of marriage act. This is a great day for those who are comitted to equal rights for all.

[SK in CV]

Marriage is a state institution.

Has been since states began issuing marriage licenses. States use the same word as religion, but neither has the right to claim ownership of that word. (There is nothing “sacred” about the word.) My religion has no problem with Adam and Steve. Time for everyone to get over arrogant superiority syndrome.

Hopefully this landmark decision will encourage another 48 states to follow, along with the repeal of the draconian federal defense of marriage act. This is a great day for those who are comitted to equal rights for all.

[SK in CV]

Marriage is a state institution.

Has been since states began issuing marriage licenses. States use the same word as religion, but neither has the right to claim ownership of that word. (There is nothing “sacred” about the word.) My religion has no problem with Adam and Steve. Time for everyone to get over arrogant superiority syndrome.

Hopefully this landmark decision will encourage another 48 states to follow, along with the repeal of the draconian federal defense of marriage act. This is a great day for those who are comitted to equal rights for all.

[SK in CV]

Marriage is a state institution.

Has been since states began issuing marriage licenses. States use the same word as religion, but neither has the right to claim ownership of that word. (There is nothing “sacred” about the word.) My religion has no problem with Adam and Steve. Time for everyone to get over arrogant superiority syndrome.

Hopefully this landmark decision will encourage another 48 states to follow, along with the repeal of the draconian federal defense of marriage act. This is a great day for those who are comitted to equal rights for all.

[SK in CV]

Marriage is a state institution.

Has been since states began issuing marriage licenses. States use the same word as religion, but neither has the right to claim ownership of that word. (There is nothing “sacred” about the word.) My religion has no problem with Adam and Steve. Time for everyone to get over arrogant superiority syndrome.

Hopefully this landmark decision will encourage another 48 states to follow, along with the repeal of the draconian federal defense of marriage act. This is a great day for those who are comitted to equal rights for all.

[SK in CV]

The cost of student housing nostradamus….

for a grad student at UCSD for a 2br apartment ranges from just under $1,000 to over $1,200 a month, so either your friends are sharing that apartment with someone else or they’re paying much more than they’re saying.

The rent for comparable apartments and condos in the area range from $1,300 to over $1,800 a month for the nicer condo complexes.

But renting is still by far the best option, at least in the immediate vicinity of UCSD. Prices are still dropping and will probably continue for the forseeable future.

The condos and apartments in the penasquitos and scripps ranch area are more affordable and seem to have hit a plateau over the last couple months, probably closer to the bottom. And there might even be something available in the $200K range that is more than a converted apartment.

[SK in CV]

The cost of student housing nostradamus….

for a grad student at UCSD for a 2br apartment ranges from just under $1,000 to over $1,200 a month, so either your friends are sharing that apartment with someone else or they’re paying much more than they’re saying.

The rent for comparable apartments and condos in the area range from $1,300 to over $1,800 a month for the nicer condo complexes.

But renting is still by far the best option, at least in the immediate vicinity of UCSD. Prices are still dropping and will probably continue for the forseeable future.

The condos and apartments in the penasquitos and scripps ranch area are more affordable and seem to have hit a plateau over the last couple months, probably closer to the bottom. And there might even be something available in the $200K range that is more than a converted apartment.

[SK in CV]

The cost of student housing nostradamus….

for a grad student at UCSD for a 2br apartment ranges from just under $1,000 to over $1,200 a month, so either your friends are sharing that apartment with someone else or they’re paying much more than they’re saying.

The rent for comparable apartments and condos in the area range from $1,300 to over $1,800 a month for the nicer condo complexes.

But renting is still by far the best option, at least in the immediate vicinity of UCSD. Prices are still dropping and will probably continue for the forseeable future.

The condos and apartments in the penasquitos and scripps ranch area are more affordable and seem to have hit a plateau over the last couple months, probably closer to the bottom. And there might even be something available in the $200K range that is more than a converted apartment.

[SK in CV]

The cost of student housing nostradamus….

for a grad student at UCSD for a 2br apartment ranges from just under $1,000 to over $1,200 a month, so either your friends are sharing that apartment with someone else or they’re paying much more than they’re saying.

The rent for comparable apartments and condos in the area range from $1,300 to over $1,800 a month for the nicer condo complexes.

But renting is still by far the best option, at least in the immediate vicinity of UCSD. Prices are still dropping and will probably continue for the forseeable future.

The condos and apartments in the penasquitos and scripps ranch area are more affordable and seem to have hit a plateau over the last couple months, probably closer to the bottom. And there might even be something available in the $200K range that is more than a converted apartment.

[SK in CV]

The cost of student housing nostradamus….

for a grad student at UCSD for a 2br apartment ranges from just under $1,000 to over $1,200 a month, so either your friends are sharing that apartment with someone else or they’re paying much more than they’re saying.

The rent for comparable apartments and condos in the area range from $1,300 to over $1,800 a month for the nicer condo complexes.

But renting is still by far the best option, at least in the immediate vicinity of UCSD. Prices are still dropping and will probably continue for the forseeable future.

The condos and apartments in the penasquitos and scripps ranch area are more affordable and seem to have hit a plateau over the last couple months, probably closer to the bottom. And there might even be something available in the $200K range that is more than a converted apartment.

[SK in CV]

If the FHA is providing insurance on the loan, I assure you they will demand old tax returns, specially if they’re as recent as 2005 (That’s still an open year for IRS audits), if current income couldn’t have supported the original loan that is being refinanced. You’re right on the “I didn’t know” defense. But only if it’s credible. (A handwritten preliminary loan app, in the borrowers handwriting, for instance might mke that defense not credible) The FHA has a long history of demanding stringent underwriting standards. The last 4 years have helped many in the industry to forget the headaches of getting an FHA loan funded. They have never made it easy. I don’t suspect that will change.

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