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9 May 2024 | 2 replies
Someone from the company should perform a site visit of the property to do a thorough analysis and ensure eligible components are identified accurately.Licensure and experience: The firm should have licensed tax specialists and engineers and this is recommended by the IRS.Experience with your specific type of property: Not every property is treated the same whether it be office buildings, self-storage, restaurants, gas stations, mobile home parks, residential properties, multi-family, or car washes.
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9 May 2024 | 12 replies
Treat if necessary, then have your drywall guy patch and paint.Depends if you want to take the chance or not......?
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14 May 2024 | 201 replies
Your bottom 2x4 will be treated. 2 2x4's for a top plate.
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9 May 2024 | 8 replies
Returns can be good if you treat it like a business and operate in the top 10% of owners with regards to pricing, theming of the home, the community you are in, responsiveness, cleanliness etc.
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8 May 2024 | 5 replies
Hello @Nancy Chawla,You will still need a 1031 exchange for the half of the home that has not been treated as your primary residence.
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8 May 2024 | 2 replies
She treats the property horribly (I am constantly cleaning up her mess outside (dirty diapers, clothing etc.) her place every time I go to cut the lawn) and I have no option besides getting her out of the property (I have been way too lenient with her).I am looking to serve her a 30 day notice to terminate month to month tenancy but she still has not paid this months rent.
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14 May 2024 | 125 replies
Correct, before you sell treat it like a flip.
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5 May 2024 | 5 replies
Treat investing as a genuine business rather than a side hustle.
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8 May 2024 | 8 replies
Also like someone else mentioned, if you just bought the building and have no history with these people it is best to treat them like they are new tenants and get to know their income situation and a background check done.