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11 February 2025 | 12 replies
Since rental losses are typically passive, the best way to offset W-2 income is through Real Estate Professional Status (REPS) (750+ hours) or Short-Term Rentals (STRs) (100+ hours and more time than anyone else managing the property), which allow real estate losses, including depreciation, to offset active income.A cost segregation study accelerates depreciation, generating large upfront deductions.
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28 January 2025 | 1 reply
The way I interpret the following policy clause is that so long as the property is defined as other than "VACANT" which is the case when the property is being "constructed, altered or repaired", the 30-day time period and vacant status does not apply in this instance: We do not insure any loss at your premises if your dwelling has been vacant for more than 30 consecutive days immediately before the loss and the declaration page indicates an occupancy other than “VACANT“.
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20 February 2025 | 5 replies
What we found was only one other person contracted under $200 per square foot for clients and they also built within the city of columbus. the numbers have a much higher premium the closer you get to downtown. if you can't get the numbers to work my recommendation would be to get closer to downtown. we do build to rent development and single family home development and every line item is broken out. on the triples we have to build exterior staircases etc there are some things you can't really understand unless you build a lot. hope that helps but no one is going to build you for 110 a square foot. the lowest cost homes in our market at cost without a profit barely dip into 140 a square and we are in one of the cheapest construction markets and states in the country.
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3 February 2025 | 4 replies
That's two months of lost rent and utilities ($5,600) plus $2,000 in cleaning/repairs for a total loss of $7,600.
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18 February 2025 | 18 replies
It's led to incredibly high occupancy rate in the off-season, but I'd rather have a slightly lower occupancy rate in order to reduce wear and tear and leave some weekends open for personal use.I'm at a loss on what to do about this.
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19 January 2025 | 9 replies
The losses would have spiraled out of control for me had I not been able to sell my second house immediately.I don't look back on my experience with any regrets since I know the risks we take playing this game.
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15 February 2025 | 6 replies
They like that.My super duper, proprietary "Quick Calc Pro" spreadsheet tells me in minutes what price I can pay for the property, what my cash flow will be, what my entry fee is, how much I can wholesale or fix & flip it for, how much to give the seller, and a ton of other items that only someone deranged and experienced would care to know.
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12 February 2025 | 15 replies
Jobs will be revised in 2024 to show a net loss in jobs.2.
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9 February 2025 | 15 replies
Cheap items will break sooner and require replacement, and will make your place look cheap overall.
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7 February 2025 | 2 replies
You might consider: Consulting a Real Estate Attorney – Your emails may possibly prove misrepresentation.Requesting Public Records – A FOIA request might reveal why the city denied you but later approved the duplex.Escalating to City Officials – Bringing this to local officials could expose inconsistencies.Exploring Tax Write-Offs – A CPA might help offset your financial loss, if it is possible.I’d definitely seek legal advice.