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18 December 2024 | 12 replies
Typically my analogy is something like: if you're in a happy relationship, you're not going to go looking and see if the grass is greener on the other side... so for you what is it you're really looking for?
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19 December 2024 | 4 replies
Unfortunately, the only way to go about this is the get the property rezoned and convince the zoning board of your proposed use.
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17 December 2024 | 9 replies
At your scale, you would likely need to go full steam ahead and get the required licenses.
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15 December 2024 | 19 replies
You should see some of the houses I've rehabbed or walked. ya thats maybe a 5 on a scale of 6.. the really bad ones you need a resperator to go into them.. and people worry about a little dab of mold these folks live in a petri dish.
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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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19 December 2024 | 13 replies
You definitely want a legal agreement that's forecloseable, getting as much front money as possible so that you're not just in a lurch with nothing if/when they default, and you should get better interest terms for "being the bank" AND I would qualify the buyer just the same as if they had to go to a bank, because you want to know who your partner is in this deal.
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17 December 2024 | 3 replies
Coaches are best when you want to go from somewhere to somewhere better, but not the best spend when you are starting from scratch.
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15 December 2024 | 8 replies
Any pointers on where to go or to look to find the list would be unbelievably appreciated.
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11 December 2024 | 14 replies
From what I’m seeing, people are still traveling and making plans, especially for vacation rentals in desirable areas.
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17 December 2024 | 20 replies
Quote from @Dustin Tucker: I'm going to go out on a limb, and say the dumb money keeps buying treasuries like they are going out of style, which continues to push the rate lower.