All Forum Posts by: James ONeal

@Elizabeth Park if you need someone local to give you some photos, video, scope of work and a bid shoot me a message.

@Jaron Walling rumor has it the strikes have been resolved.

As far as MTR maybe they should consider target medical professionals around the hospitals.

Here are a couple of more to consider:

The Property Place LLC

Moxie Property Management 

CRM Properties

MPK by Murdock Real Estate Group

If you own a rental property, there are a number of tax considerations you should keep in mind when preparing your tax return. Here's a checklist of some of the key items you should gather and review before completing your tax return:

1. Rental income: Collect all records of rental income received during the year. This includes rent, fees, and any other payments from your tenants.
2. Rental expenses: Collect all records of rental expenses incurred during the year. This includes property taxes, mortgage interest, insurance, repairs, maintenance, utilities, and any other expenses related to the rental property.
3. Depreciation: Calculate the depreciation for your rental property. Depreciation is a tax deduction that allows you to recover the cost of the property over its useful life.
4. Capital improvements: Gather records of any capital improvements made to the rental property during the year. These improvements are added to the cost of the property and depreciated over time.
5. Losses: Determine if there were any losses on the rental property during the year. These losses may be deductible against other income on your tax return.
6. Form 1099-MISC: If you paid any contractors or service providers for work related to the rental property, you may be required to issue them a Form 1099-MISC. Be sure to gather all relevant information and file the forms on time.
7. State and local taxes: Review your state and local tax laws to determine if you owe any additional taxes related to your rental property.
8. Rental activity participation: Determine if you are an active or passive participant in the rental activity. This will determine how much you can deduct in rental losses on your tax return.
9. Documentation: Keep all records and receipts related to your rental property. These will be essential in case of an audit or other tax inquiry.
10. Tax professional: Consider consulting with a tax professional who has experience working with rental property owners. They can help you navigate the complex tax rules and ensure that you are taking advantage of all available deductions and credits.

Investing in real estate can be a profitable venture, but it can also be a lot of work. You may want to consider hiring a property management company to help with the day-to-day management of their investments.

Here are some benefits of hiring a property management company and some of the factors to consider when choosing the right one for your needs.

Property management companies offer a range of services to help property owners manage their investments. Some of the benefits of hiring a property management company include:

1. Tenant Screening: Property management companies can help screen potential tenants to ensure they have a good rental history, stable income, and good credit. This can help reduce the risk of evictions and other problems down the road.
2. Rent Collection: Property management companies can handle rent collection, ensuring that you receive your rent on time every month. They can also handle late payments, fees, and other financial matters.
3. Property Maintenance: Property management companies can handle maintenance requests and repairs, ensuring that your property is well-maintained and in good condition. This can help preserve the value of your investment and keep your tenants happy.
4. Legal Compliance: Property management companies can help ensure that your property is compliant with local and state laws and regulations, such as fair housing laws, building codes, and landlord-tenant laws.

Choosing the Right Property Management Company

When choosing a property management company, there are several factors to consider. Here are some things to look for:

1. Experience: Look for a property management company with experience managing properties in Kokomo, Indiana. They should have a good understanding of the local real estate market and be familiar with local laws and regulations.
2. Services: Consider the services the property management company offers. Do they offer tenant screening, rent collection, and maintenance services? Do they offer 24/7 emergency services?
3. Reputation: Check online reviews and ask for references from the property management company. A good reputation is a strong indicator of a company's quality of service.
4. Cost: Consider the cost of the property management services. Look for a company that offers competitive pricing and transparent pricing structures.
5. Communication: Look for a property management company that communicates well with clients. They should be responsive to your needs and keep you informed about your property.

Hiring a property management company can be a wise investment!

I initially bought a distressed property to BRRRR but am considering a ‘hybrid' approach but not sure if it's doable?
Bought for 42k putting 30k in reno with estimated ARV of 119k. That puts me at 89k cash out but with high rates thinking about only taking the 72k to cover the debt leaving 17k on the table for a line of credit with a local community bank that I would do the HELOC with… thoughts, pitfalls, misconceptions, and recommendations welcome. This community is awesome!

 Did this pan out?

 Jeff, are you saying that the seller can contribute to the buyer buydown with the amount exceeding the 2% rule?

I ran into this same issue. The Fannie/Freddie guideline is 2% of the loan amount for investments and 3% cap for primary residence. What other creative was are there to allocate funds from the seller without reducing the purchase price?