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13 October 2024 | 9 replies
The average price per land for urban infill going 6-12 stories high on a higher density product is about 5 million an acre up to about 25 million an acre. downtown market premiums I've seen at the highest are 1200 a sq ft. in columbus you can get land about 1.5 million per acre downtown at best price, sells for about 600 a sq ft max, very little competition compared to miami. tampa I didn't really look at too much because miami has 22 zip codes that you can build at least 6 or 8 stories on and just a much better landscape than other markets. tampa is a little bit bigger than columbus but in my opinion more of a suburban market. miami is landlocked and very limited so everything is in redevelopment. both are amazing opportunities but the barrier to entry is much higher in Miami with the smallest plots of land infill going for at least 1.5 million I would say in areas like Wynwood Norte, Wynwood, etc. we looked all over but prefer east of 95 due to the condominium opportunities. multifamily is very strong in both markets but the condo premiums make it almost silly not to do one from the start and the use of deposits versus a single asset lease up and disposition is a longer sales cycle than the condo buildings being sold out prior to completion.
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9 October 2024 | 2 replies
Putting five unrelated occupants in one home means five cars parked outside, five different group friends visiting the home, increased likelihood of noise or parties, and other problems.Personally, I have pretty strict requirements when three or more unrelated people are renting together because of the potential problems.
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10 October 2024 | 2 replies
The owner agrees to pay the violations but I'm responsible to do the necessary post work which is to either remove the garages completely or bring them up to code.
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8 October 2024 | 2 replies
are they pretty strict?
10 October 2024 | 0 replies
Often, states will provide child support calculators, which are a great starting tool for those strictly looking for an estimation; these calculators tend not to get into the nitty-gritty of finances, however, as they don’t factor in your specific circumstances.
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9 October 2024 | 3 replies
SB 567 clarifies that a tenant is not required to vacate the unit on any days where they could continue living there without violating health, safety, and habitability codes and laws.
10 October 2024 | 0 replies
Local mobile home movers may follow current local codes—or they may not.
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10 October 2024 | 2 replies
Section 721 of the Internal Revenue code allows an investor to exchange property held for investment or business purposes for shares in a Real Estate Investment Trust (REIT) or an Operating Partnership without triggering a taxable event.Many investors are aware of a 1031 Exchange where an investor must find a replacement property to defer capital gains taxes on the property that was sold.
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11 October 2024 | 10 replies
The reason you have to obtain this special type of financing is because the tax code provisions (IRC 4975) do not allow you to personally guarantee debt that your IRA or Solo 401k takes on. 2) It was referenced above UBIT, which is a special tax on the portion of the after expenses and depreciation, that is attributed to the debt financed percentage of the property.
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16 October 2024 | 25 replies
This might offset the rate difference, especially when conventional financing isn't as easily accessible due to strict income or employment documentation requirements.2.