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15 November 2024 | 7 replies
My contractor has one credit card for all of my individually owned buildings (jointly not multiple cards) and one credit card for the building I own in a partnership.
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13 November 2024 | 8 replies
Break down your rehab into individual jobs, for example get a electrician for electrical work, a plumber to repipe the house, a dry wall guy to close out the walls, etc.
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11 November 2024 | 5 replies
Quote from @Austin Schubert: Quote from @Chris Seveney: Quote from @Austin Schubert: Would anyone have a sample template of a proposal that you've used in the past that goes over how your structure a deal with a private money individual?
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11 November 2024 | 12 replies
These platforms do not get involved in the transaction beyond the connection, and so any liquidity options and investor may have are simply what that sponsor has or has not offered in that individual fund/deal.
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11 November 2024 | 7 replies
The section continues, “… Bed and Breakfast establishments, boarding homes, dormitories or multiple units, or any other similar lodging arrangements are specifically prohibited.”Section 3 – Commercial Use – states, “…no part of a Lot or Dwelling shall be used or caused to be used or allowed or authorized in any way, directly or indirectly, for any business, commercial, manufacturing, mercantile, storing, vending, or other such nonresidential purposes…”.
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13 November 2024 | 10 replies
While the IRS does not mandate a physical site visit, the IRS cost segregation audit technique guide (ATG) does suggest conducting “field inspections.”It’s important to note that the ATG is not an official IRS document.It serves as a guide and cannot be used, cited, or relied upon as an authoritative source.However, the recommendations in the ATG are worth considering.According to the guide: “A field inspection is recommended to document the physical details of the building, type of construction, materials used for construction, the assets contained in the building, the size and types of building systems, and any land improvements that were included in the purchase of the property and the condition of that property at the time of purchase.”So while the IRS does not require a site visit for cost segregation studies, following the guidance from the cost segregation audit technique guide can be beneficial.There's this thing called Hierarchy of Tax Authority that CPAs and Tax Attorney's reference.Let's not get too carried away with comments like, It serves as a guide and cannot be used, cited, or relied upon as an authoritative source....
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14 November 2024 | 13 replies
Unless you live in area that has many ADUs already built that have been sold with the home or as individual parcels.
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11 November 2024 | 5 replies
@Jordyn Gegg - I have a PM company that oversees all of my individual LLCs.
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11 November 2024 | 6 replies
Quote from @Brody Veilleux: As far as I’m aware, FHA loans are only for individuals.
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11 November 2024 | 4 replies
If individuals and/or LLCs are the beneficiaries, then it is doable.