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8 November 2024 | 2 replies
Simply put, does anyone have suggestions of how to dispute this with the city?
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5 November 2024 | 5 replies
If it means hiring local people, (I.e. cleaning, handyman, someone to act on your behalf in an emergency,) then where does that leave you if you’re only in it for a co-lister’s cut?
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4 November 2024 | 17 replies
Hope this stirs the pot a little bit and get some of you to think and realize that what you have been doing is simply wrong!
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6 November 2024 | 4 replies
Just tell them they won't meet your criteria or cut off communication.
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7 November 2024 | 12 replies
Here's some hopefully, helpful cut & paste info:------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?
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4 November 2024 | 34 replies
Any agent who believes that providing a completeproof of funds letter, which they don’t even prepare, is jumping through hoops is simply lazy.
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7 November 2024 | 21 replies
So that’s what I was simply saying was a moot point on the front end discussing with a seller.
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6 November 2024 | 42 replies
We've been to 38 of the big 63 National Parks; both Hot Springs and Broken Bow, which kind of cater to that same crowd, ever seemed appealing enough to visit.It doesn't mean that they are bad places to invest, but the anecdote needs to corroborate the data for me to want to cut a check and stress out for several months hoping it will work.
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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.