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8 March 2024 | 10 replies
If you are in the smokies for instance and don't have a hot tub, you will be below average.
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8 March 2024 | 8 replies
For instance, while it can bolster initial cash flow by reducing tax liability, it could diminish deductions in subsequent years (when the property might produce better cashflow), impacting overall tax footprint, so you need to take into account all that in the context of your short term and long term tax strategy (e.g. if you plan on selling soon, at which time the depreciation gets recovered, or not and planning to hold for a long term/forever/1031, buying more later and creating more depreciation to offset cashflow or not, etc.).The alternative is a do-it-yourself (DIY) or survey option, which costs around $400 to $500 per property (I can do my CSS report in 10min, once I have all the data needed).
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7 March 2024 | 8 replies
In many instances like this one - by the time it gets investigated damage is already done
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8 March 2024 | 19 replies
For instance, as an Owner/Builder, you must pull the permits, and this instantly makes YOU responsible for the satisfactory completion of said permit, and you also must know applicable codes.If one of your Subs has an employee that is not completely legit, then that falls on you as well, and you might not have even known about it.....!
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8 March 2024 | 17 replies
There are some legal concerns in certain areas, Illinois and Philadelphia for instance requires you to have a real estate license to wholesale from my understanding.The biggest issue is that most simply don't make much money wholesaling.
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7 March 2024 | 5 replies
The following looks at hypothetical purchases, anecdotally and in relative isolation, meaning there may be a reason (for instance to generate large tax losses for "active participation" investors to offset other income) for some individuals to undertake a particular kind of purchase.
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7 March 2024 | 7 replies
For instance, depreciation on whatever property you are buying or something called "tax-loss harvesting" where you sell investments at a loss to offset the shares that are at a gain.
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7 March 2024 | 7 replies
Obviously, this isn’t true in every single instance but in my experience property managers tend to out perform agents who also manage properties.
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6 March 2024 | 0 replies
By default, the Mortgagee is both the one that lends and the one that has an insurable interest and therefor both descriptions pertain to “Mortgagee”.Which is preferred: Traditional Banks always only require they be listed as the Mortgagee whereas Hard Money and or Private Money; it’s 50/50.Now, you’re probably wondering in what instance would someone be listed as a Loss Payee but not Mortgagee- well, let’s say someone lends the property owner money in a non-traditional fashion - we can chat more about this later -whether it be for the property or for something else, doesn’t matter, and the borrower uses the property as collateral.
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8 March 2024 | 30 replies
With Safely you would pay, for instance, $70 per booking and Safely would cover you for damage and liability (again, check with them directly on this, I am not associated with the company so I can't say for sure they do liability!)