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23 September 2024 | 6 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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24 September 2024 | 4 replies
of thousands of dollars in lost productivity, so the business is likely a lot less price-concerned than other residents.
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27 September 2024 | 44 replies
I was quoted about $6k to $10k depending on what what products/packages that included what I was looking for.
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25 September 2024 | 17 replies
Also, someone with real estate investing experience can probably help you shop for loan products that could be more flexible on the owner occupancy requirements so that you can scale at whatever pace you want.
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24 September 2024 | 12 replies
The best wholesaler and the ones who run it like a business, usually start as productive home buyers.
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23 September 2024 | 6 replies
Home was flipped and I buy the product they sold.
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24 September 2024 | 8 replies
The area among several others is more than capable - the finish product is far more important once you’ve picked an area that’s proven to perform.I’ve bought 25+ for me and clients in the last 18 months and manage 15+.
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24 September 2024 | 22 replies
There is a product called “transactional funding” for this purpose.
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23 September 2024 | 6 replies
Biggerpockets recently came out with a book on real estate strategy.You may want to give it a read.State with Strategy by Dave Meyer - https://store.biggerpockets.com/products/start-with-strategy
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22 September 2024 | 7 replies
The best product we use in our business.