Melanie Baldridge
What is MACRS classification?
10 January 2025 | 0 replies
When it comes to real estate, here's a general list of eligible assets and their depreciable lifespans that you should know: Residential Rental Property = 27.5 yearsThis includes any building or structure where 80% or more of its gross rental income is from residential units.That means:- Apartment buildings- Single-family rental homes- Duplexes, triplexes, and quadplexes- Mobile homes (used for residential rental)- Any kind of residential lodging facility where the primary purpose is long-term rentalCommercial Property = 39 yearsThis includes non-residential properties like:-Office buildings-Retail stores and shopping centers-Warehouses-Industrial complexes-Hotels and motels that do not qualify as residential rental propertyLand Improvements = 15 yearsThese include sidewalks, roads, fencing, some landscaping, and parking lots that are separate from the building.Personal Property = 5 or 7 yearsPersonal property used in a rental activity usually has a 5 or 7-year life.This includes most furniture, appliances, carpeting and various machinery.Qualified Improvement Property (QIP) = 15 yearsGenerally, this includes any improvements made to the interior of a non-residential building after the building was placed in service, excluding elevators, enlargements, and the internal structural framework.Computers and Related Peripheral Equipment = 5 yearsVehicles = 5 yearsNote that the land itself is not depreciable.
Jerry Maze
Investor friendly Title Companies and Closing attorneys
5 January 2025 | 5 replies
Mobile closing anywhere?
Marc Robinson
Community input on a small mobile home park, distressed with high vacancy
13 January 2025 | 10 replies
I have an off market opportunity. 30 pad trailer park, only 19 trailers currently on-site 17 with MTM tenants. Rent roll was ~$8K last month. They are looking to get $500K for the park. 16 of the 19 trailers are park ...
Clifford Pereira
Real Estate Professional (REP) Status guidance
31 January 2025 | 12 replies
You can use tools like spreadsheets or time-tracking apps for convenience.
Sabian Ripplinger
should i use hard money to grow quicker
23 January 2025 | 7 replies
They will also charge you to have an inspection by a 3rd party or to use an app to make sure the work is done.
NA NA
Question about wholesaling
9 January 2025 | 1 reply
I thankful for finding this app through a book I have been reading.But I would like to inquire in regard to introducing myself both to sellers and cash buyers.
Troy Parker
Renting your first rental to a friend
26 January 2025 | 11 replies
Also, ask your agent to do prior rental verifications and to run the applicants through Forewarn app.
Edward Toomey V
5 months using RentRedi and I HATE it
19 January 2025 | 55 replies
None of those "notifications" they say they'll send every make it to my phone because it's not really an app, it's just a website as an app.
Andrew Katz
What year do I count income for?
15 January 2025 | 9 replies
If I understand you correctly the tenant paid on 12/31/24 on the apartments.com app.