If you’ve owned it for a few years there a cap on the amount they can increase the taxable value, I believe it’s 15% excluding improvements to the property.

Pro photos= yesDrone photos and video = yesVertical video = yeshorizontal video = only if you have a direct booking website and/or YouTube. 

I know it is a capital improvement and needs to be depreciated - which makes me think to claim it in 2023 when the work was done, but since we didn't pay it until 2024 - that seems wrong. 

If you haven’t already, I would check out Sean Terry’s YouTube video with Bob Diamond on wholesaling apartments.

Purchase price: $105,000 Cash invested: $10,000 Sale price: $210,000 While in college, I had enough money saved to put 3% down on a property and make some small improvements.

Hi, I am reaching out because a couple of properties that have equity and I am looking for ways to pull some of that equity to redeploy the money into the properties to do improvements to maximize my income streams by building ADUs.

The goal is to increase the property’s value significantly through strategic improvements.

The formula for your taxable amount is the difference between your net sale (contract price minus closing costs) and your adjusted cost basis (original purchase price plus capital improvements minus depreciation). 

These lenders typically cover the purchase and rehab costs because they’re more focused on the value of the property than your personal financials.Rehab: Use the borrowed funds to fix up the property, adding value by making necessary repairs or improvements.

There was some speculation a few years back that it was heading in a much better direction and there was building and improvements being made and businesses moving in.