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28 February 2025 | 15 replies
I think it would just be nice not to be the first person call for every issue.Appreciate you taking the time to share- Best!
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10 February 2025 | 2 replies
Who gets blamed for and/or has to handle the following unique to nonfamily roommates:1) Missing personal possessions?
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27 January 2025 | 4 replies
Large down payments or extreme discounts from sellers would be needed to reach cash flow neutral stages.
7 February 2025 | 5 replies
I've worked in most phases of residential construction, but have not yet managed a project this large.
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29 January 2025 | 7 replies
Theyre out there, but they are largely impractical and not viable except in the most profitable deals.
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14 February 2025 | 4 replies
Personally, I used a business credit card to fund a BRRRR deal, securing over $90K in credit with just an LLC and a solid credit score.There are many creative financing strategies available, so don’t let capital be a barrier.
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13 February 2025 | 5 replies
I've personally found the bulk of my Chicago purchases off the MLS.
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13 February 2025 | 8 replies
It sounds like a single family house where you will be living in the house(personal use).Therefore, you may not be getting the tax benefits you think you are.Consult an accountant.I am not sure why your sister would agree to this as well, she is losing $170,000 in this transaction and she faces the possibility of you increasing her rent.You also have to charge market rent or close to market rent or it is all deemed personal use.
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27 February 2025 | 5 replies
Make sure to ask them questions like how many people they have helped house hack, or so on so you can get the right person to help
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6 February 2025 | 3 replies
Let's break it down with precision:The "Pain" (At First Glance):Your $2.8M sale splits out as:Building (§1250): $2.3MPersonal Property (§1245): $500KOriginal Basis Allocation:Building: $1.6M (depreciated over 27.5 years)Personal Property: $400K (fully depreciated)Building Depreciation:Annual: $1.6M ÷ 27.5 = $58,182Total over 10 years: $581,820Gain Breakdown:Building (§1250):Sale Price: $2,300,000Original Basis: $1,600,000Less Depreciation: ($581,820)Adjusted Basis: $1,018,180Total Gain: $1,281,820Unrecaptured §1250: $581,820 (25% max rate)Capital Gain: $700,000 (20% max rate)Personal Property (§1245):Sale Price: $500,000Adjusted Basis: $0Ordinary Income: $500,000The Strategic Play:Remember those suspended passive losses you couldn't use?