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5 November 2024 | 5 replies
Wanted to know if it's possible to send a tenant to collections after a move out/ evictions for additional charges the security deposit didn't cover.
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9 November 2024 | 17 replies
Additionally, unrelated business income tax (UBIT) might apply if your property is financed.One option to consider is partnering funds from multiple accounts or other individuals to share in the investment, which may avoid the need for difficult-to-secure non-recourse financing.
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6 November 2024 | 8 replies
Just trying to find out how to secure remaining 20% for seller
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4 November 2024 | 21 replies
You need to look for a Securities Attorney (not a real estate attorney)As @John Sayers mentioned, you can get ownership with a GP by doing other things, like bringing the deal, asset management, data research, etc.
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8 November 2024 | 22 replies
@Dave Vona, there are a lot of challenges here in comparing the two.I have invested in SFR and syndications, granted syndcations only started about 4 yrs ago, where SFRs were 14 yrs ago.The biggest challenge in comparing these two, from a very technical aspect, is you are using syndicators 15-18% projections on value add properties (and the rent increases that can come with them) versus a more turnkey approach.So let's look at most syndicators in the value-add space and for completed deals:I would say, many groups hit roughly 25% IRRs for their LPs, often with a roughly 2-3 yr hold.
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6 November 2024 | 0 replies
Others 15 yrs, etc.So we depreciate a portion of the asset costs faster.We do the study and get dollar amounts assigned to different parts and different schedules to front-load depreciation.Now you can get 5 or 6% of the value as a deduction in the early years...But wait... there's more.Bonus depreciation allows you to deduct a certain percentage of cost in the first year an asset is put into service.Anything that is on a schedule of 15 years or less...So the doors, sidewalks, HVAC, walls, latches, curbs, security, gates, etcA % of this stuff goes in Yr 1.For years 2015 through 2017, first-year bonus depreciation for these items was set at 50%.It was scheduled to go down to 40% in 2018 and 30% in 2019, 0% in 2020.But then the Tax Cuts and Jobs act moved this percentage to 100% from 2017 to 2022 and 80% in 2023 and 60% in 2024.Its not uncommon to allocate 30% of an asset cost to items that can be depreciated on a 15 year or faster time frame.So now 60% of that 30% of your asset's cost can be depreciated in the first year, excluding land.Pretty great.This is how real estate owners, investors, and operators make millions and pay very little in taxes compared to W2 employees.They pay even less and can offset other types of income if they are an RE Pro.
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4 November 2024 | 1 reply
I am wondering if the interior stairs are typically removed to allow for more sq ft in the basement unit as well as greater security between the two units?
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6 November 2024 | 13 replies
I did eventually get them evicted and thankfully they didnt trash my property (though they left a lot of trash that cost me $500 to get rid of but o well).The other time this happened was a tenant I moved in who had a good job at a hospital, the hospital had a program where they paid the security deposit and first months rent.
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4 November 2024 | 16 replies
What do you use for your remote security setup?
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3 November 2024 | 24 replies
no I have not purchased the home yet -but I’m educated and working with a realtor who understands the process.1st- you have to be a recipient of a section 8 housing choice voucher /in the program and in good standing2nd you need to be in the rental unit and in the program for a year minimum3rd you must to be in a “participating housing authority” or PHA because not all Housing Authority’s participate in this rent voucher -to -home mortgage voucher program4th it may ( or may not) require recipient enrolling in an additional sub program called families for Self Sufficiency ( FSS) which has a class that teaches voucher holders how to use the voucher for a mortgage payment5th I’m working with a realtor who understands the process - has used it for dozens if not hundreds of clients. it’s going to be VERY hard for anyone unfamiliar with government processes to get through it successfully. note I’m also utilizing first time savings plans IDA‘s and local first time homebuyer grants and a USDA 502 direct low income Rural loan. and my own funds.All aid mentioned can be “stacked” to lower mortgage & create long term affordability.