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15 January 2025 | 5 replies
To throw a wrench into things, if we were talking about real property/structures that were being short term rented, it's possible/likely that your depreciation period would be 39 years, not 27.5.However, a vehicle - which is what an RV is, regardless of how you're using it - is 5 year property.
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6 January 2025 | 3 replies
Any idea of lead times?
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16 January 2025 | 1 reply
.🎯 Your 6-Month Timeline:Month 1: Foundation (5-7 hours/week)Morning routine: 1 hour daily market researchEvening routine: Deal analysis practiceWeekend: BP forums & networkingKey Goal: Analyze 10 deals on paperMonth 2: Education (8-10 hours/week)Complete 1 RE courseJoin 2 local REI groupsSchedule lunch breaks with agentsKey Goal: Build your initial power team listMonth 3: Systems (10-12 hours/week)Set up deal tracking systemCreate document templatesEstablish banking relationshipsKey Goal: Ready to make offersMonth 4: Lead Generation (12-15 hours/week)Drive neighborhoods after workWeekend open housesSetup automated MLS alertsKey Goal: Generate first 5 qualified leadsNow, the Owners and Brokers you deal with may not enjoy this, but you can certainly "practice" making offers.
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16 January 2025 | 5 replies
You can learn to do this independently or get a rockstar REALTOR to lead the way.
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22 January 2025 | 22 replies
When a rental is taken out of service for personal use the accumulated depreciation goes away over a short period of time.
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21 February 2025 | 26 replies
Some a short-term loan can also help you with DSCR loans with fewer regs and guidelines making your loan process much simpler.
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14 January 2025 | 2 replies
The tax advantages of buying/holding gas stations are pretty great.Many of the components of gas stations including pumps, tanks, external parking areas, and other equipment are classified as either 5 or 15 year property so you can bonus depreciate a lot of it (minus the land value) and get significant deductions in year 1.With the 2025 bonus depreciation rate at 40%, a $1 million gas station acquisition could still lead to $100K+ in year 1 deductions depending on the specifics of your deal.
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11 February 2025 | 31 replies
It doesn’t make sense to go through the fundraising process each time since the focus should be on trying to swallow up these deals in short order.
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13 February 2025 | 123 replies
I am also a member/subscriber of Vodessey, Short Sale Prophets Basic, and several others.
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19 January 2025 | 3 replies
There is no seasoning requirement involved since the property isn't a short sale and it isn't someone buying REO from a bank with a seasoning requirement.