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7 May 2024 | 56 replies
That is more in line with what I feel is appropriate for a cost Seg study of low complexity.
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9 May 2024 | 2 replies
Be aware that not all of the companies have the qualifications to perform these studies.
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10 May 2024 | 12 replies
Be a DON'T WANT-ER - always be willing and ready to walk if you can't get a good deal - And understand that you can always come back to that seller later and begin Second Stage NegotiationsAsk the 7 wordsAlways consider a subject to offerAlways ask for seller financingUse the Study Period Clause with right of possession to control properties without cashOffer seller participation - this is a great way to close dealsOffer something other cash - a note secured by your other equities, an unsecured note, a Principal only mortgage (using this technique you can offer more for the building since you are not paying interest - and as you know a direct reduction mortgage will pay off much faster.
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10 May 2024 | 7 replies
The most aggressive way to do this is with a cost segregation study, which lets you rapidly depreciate many parts of the home.
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10 May 2024 | 7 replies
@Carlos Ptriawan thread summarization is actually a use case we studied, but haven't had a chance to really explore further.
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9 May 2024 | 16 replies
Let's use $1,000 just as a base number for a Cost seg study just because we can multiply it easily.
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8 May 2024 | 0 replies
Furthermore, understanding the resident characteristics allows me to measure the target market and modify my investment strategy accordingly.Inspection ChecklistSituations vary from one property to the next, but here is an on-site inspection checklist to get you started:Interior Units:Inspect vacant units, including one of each finish out type (Classic, Reno, etc.).Check all down units.Inspect one unit from each unit mix.Exteriors:Landscape:Look for overgrown bushes.Identify trees that need trimming (no branches hanging over the roof).Take pictures of the following:Curb appeal on all sides facing the street.Landscape around the office and amenities.Overgrown bushes or trees.Any dead landscape.Areas that may need sod or mulch.Assess drainage:Ensure water flows away from building foundations.Check slope, gutters, downspouts, surface drains, French drains, etc.Exterior Walls:Determine the existing material (wood, vinyl, Hardie, brick, stone).Assess the condition of the walls.Note if painting is required.Take pictures of each building, including building number, each elevation (clockwise), and any breezeways or niches.Windows:Evaluate the condition of existing windows.Consider whether solar screens should be installed.Roof:Identify the type of roof.Assess its condition and age.Parking Lot:Check for potholes.Assess the need for restriping.Note whether the parking lot is concrete or asphalt.Evaluate drainage issues.Walkway:Look for tripping hazards.Assess drainage issues.Foundation/Gutters:Inspect for cracks in the brick.Check for separation in corners from fascia and trim boards.Evaluate drainage and identify poor drainage areas.Amenities:Identify possible improvements.Consider adjustments or additions that can enhance amenities.Talk to the Staff:Maintenance: Inquire about the physical condition.Office: Discuss current residents, delinquency, and potential changes to add value.Assess whether rents are too high or too low.Confirm rents and what is included/not included.Confirm other sources of income and associated charges.Confirm occupancy, pre-release, and vacancy numbers.Note: Maintain professionalism and avoid insulting the owner or broker, regardless of the property's condition.Keep in mind that investing in real estate is like solving a puzzle—you need all the pieces to see the big picture.
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8 May 2024 | 7 replies
Trying to determine if a cost seg study is worthwhile.
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9 May 2024 | 65 replies
“Abundance mindset” “go-giver” (classic from bob burg books) etc. language is so similar across the “reviews” from these new accounts that it is hard to believe for many reading the threads that the reviews are individuals who have not been coached, invented, or required to leave reviews.- BP community rolls eyes at obvious spam and calls this out.
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8 May 2024 | 14 replies
Is a cost segregation study even necessary to get bonus depreciation?