Further, these “asset protection” methods are under constant creditor attack through the courts, meaning they are probably of benefit only a short period of time, UNLESS, true CONTROL of the asset is given up.  

I would love to build a portfolio, if anyone can guide me to which pockets are the best for rental and brrr method in Memphis would be a great help since I'm not local to memphis.

I am not in favor of squeezing the last dollar out of trades, just to the contrary.

Here’s a breakdown of how the BRRR method works and why it could be a game-changer for your investing journey.1.

Hi Patty - it depends on type of accounting method you use. if you are using cash method accounting, you can capitalize and claim in 2024.If you follow accrual basis, you record in a year when service is completed.Hope it clarifies.

maybe talk to some lenders and see what options you have.unfortunately i think the active methods take a lot of time, and the passive methods take a lot of capital.for example - on the active side - BRRRR is a really great but really difficult method. 

If you are okay with the trade-off of paying 20-30% in management fees with less tax savings for a more passive investment, then management companies may be a good option for you.

Here are a few definitions that you absolutely must know.Bookmark this thread and use it as your cheat sheet for 2024.Okay, let’s dive in:Here are the terms that I’ll define in this thread:-DEPRECIATION-BONUS DEPRECIATION-COST SEGREGATION -BASIS-LAND VALUE-IMPROVEMENT VALUE-3115-RECAPTUREDEPRECIATION:Depreciation is the decrease in $$ value of your asset over time due to wear & tear, etc.Standard depreciation is deducted evenly over 27.5 years for residential and 39 years for commercial.Even w/o cost segregation you get to deduct depreciation each year.BONUS DEPRECIATION:This is an accelerated depreciation method.

We own 7 properties that we will start developing in 2025.We are currently remodeling my wife’s two-story home, turning that into two rentals.A developer contacted us and is using our largest plot to build a four-story condo building trading one condo for the opportunity.We drive and live in an 18 wheeler debt-free saving up capital for the next opportunity. 

If you have any tips and tricks and best methods to getting my first sale that would be very helpful and appreciated.