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17 December 2024 | 1 reply
I do qualify for being a broker which comes with some additional education etc.
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20 December 2024 | 8 replies
Any recommendations for a qualified Intermediary?
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24 December 2024 | 23 replies
You do have to qualify and be accredited in most cases to join such clubs, but they do exist.
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16 December 2024 | 4 replies
The most likely options are exchanging:Life insurance for life insuranceLife insurance for endowmentLife insurance for non-qualified annuityPersonally, I would first determine what type of exchange you want to do.
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15 December 2024 | 9 replies
Are my sales skills top notch, no.
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16 December 2024 | 19 replies
You may consider terminating the lease depending on how much time remains, your skills, the legal system, and other factors.Based on what you've said, I am concerned there's someone else occupying the home or something else is going on.
16 December 2024 | 8 replies
Improvements are added to the basis and can be later depreciated.Improvements that qualify as QIP, make improvements you make and rent it out.
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16 December 2024 | 0 replies
Bonus depreciation is just a special part of the US tax code.It allows you to take accelerated depreciation on portions of your property depending on when an asset is put into service.At the time of this writing, you can write off a huge portion (60% in 2024) of many qualified components that have a useful lifespan of 15 years or less.That means a certain percentage of things like landscaping, sidewalks, latches, appliances, fences, certain flooring, etc is depreciable in year 1.The bonus depreciation rate percentage changes yearly depending on the administration and the tax code.For years 2015 through 2017 first-year depreciation for all the items on a 15-year schedule or less was set to 50%.It was scheduled to go down to 40% in 2018 and 30% in 2019 and then 0% in 2020.But then Trump got elected, and he enacted the Tax Cuts and Jobs Act.That moved the bonus depreciation percentage to 100% from 2017 to 2022.In 2023 it went down to 80% and it’s currently at 60%.Depending on who gets elected again, 100% may be back on the table.Only time will tell.We know that the US government wants to incentivize more development and ownership of RE.They want Americans to continue to build and maintain our physical world.That’s why real estate is one of the most tax-advantaged assets in the US.Depreciation and bonus depreciation for RE are very positive and will likely continue in the years ahead.
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6 December 2024 | 10 replies
Quote from @Rick Im: Quote from @Ashish Acharya: @Rick Im Inspection fees for unsuccessful deals and mileage for property viewings before acquiring your first rental CANNOT qualify as start-up expenses.
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27 December 2024 | 34 replies
Many of your main TV companies won't pay a claim on a property vacant for more than 30 days.8) Renters Insurance: how are you going to get S8 tenant, who qualified for the program via a string of bad financial decisions, to pay for it?