All Forum Posts by: Jeremy England

Sounds like an unethical deal.  Her family will probably take legal action.  I would.

Ive also been looking in Blue Ridge.  Pricing seems to have appreciated even more than other markets.  Like 300 pct increases from 2019-2020

Although from what i can tell they are coming down.  But will they come down enough to make it a good investment?  Time will tell

A gc can be a home builder. But a home builder cant be a gc. Depending on which state you are talking about. In the REI space they use the term GC synonymously with builder.

A gc can build apartments or commercial buildings. But a home builder can only do sf or small multi fam

Some states have very little Requirements to get a builders license. Others have strict requirements like Florida. 

Kb homes is a production builder.  They arent any different from Any other licensed builder just do alot more homes at once

 I partnered with an investor group back when i was building and did a few homes. It was a 50/50 split of the profits. Cost plus contract. Back then typical profits were in the 45k-50k  per house range.  For around 2000 sf homes in south alabama. Builds took from 4-5 months on average. Built 3 houses at once. So when the houses sold it was a good payday.  No money in between however.  Took some finesse to not get paid for 6 months or so.  

 At least in the 2 states ive built homes in an owner builder could only build his personal residence.  Not investment property or second home

 Cost on a 345k house would never be 85.  And it alL depends. Who owns the lot?  If the builder doesnt own it well its not his to sell.  You are paying the builder for his time and expertise. Thats all on a cost plus contract

Ive actually been thinking of getting licensed again to build my own small multifamily rentals.  And pull permits for my own rehabs

It varies.  I was a builder from 2005-2008 and it depended on how much i was risking.  If it was a cost plus contract. I would tack on between 12 and 15 pct depending on the customer.  If it was a fixed price contracT i woulD estimate high and also figure for a bigger profit margin

Good morning all, so I recently did my taxes. I used Turbo tax deluxe. Anyway, it was a good year money wise. Better than usual obviously because we owe the IRS about 2800 dollars. I have 1 rental property and believe I have maxed out the write offs I can take without just flat out making them up. I had almost no expenses from the property this past year. I manage it myself, rehabbed it back in 2018. Advertising is free, software I use is free, computers I use are personal and prof use. I have an LLC specifically for the rental property.

Anyway, my net income from the property according to TT is -600, this is after depreciation and write offs.  

I decided to play with the numbers on TT to see if I could reduce my tax liability.  I wanted to see If I did any capital expenditures how much that would influence my bottom line.  The AC in my rental is pretty old.  Installed in 06, so I figured if I spent 3000 on that, what would it do.  My tax liability decreased by 500.  So I would "save" 500 on taxes if I spent 3000 on an AC.  

I've heard of retirement accounts for self employed people. I've maxed my IRA and 401k this year. But isn't there one where you can contribute like 50k or some ridiculous amount. Would that reduce my overall tax liability?

Thanks

https://www.washingtonpost.com...

This article highlights how millenials are not buying property like their parents did. In certain markets this could mean an excessive inventory of housing.  

Prices will take a hit in some markets.  What will this do for rental rates?  I didnt own any rentals back in 08 when the market crashed so i have no idea.

It makes me think about asset allocation in the next 15 or so years