I’m about of state investor looking to do BRRRR in Birmingham, AL.

In 2024, it is 60%.You may also have an option of applying a different method (Section 179) that can give you 100% on some of the cost segregated components, but this has its own drawbacks and complications, so it needs to be discussed with your accountant beforehand.Also, have your accountant estimate your potential tax savings before ordering cost seg.

The plan is to get this home seasoned and do a modified BRRRR moving forward to rinse and repeat.What have you done in similar partnerships?

I’m trying to do a BRRRR, but the numbers don’t make as much sense when refi at 80% LTV.

What a lot of people think:Bonus depreciation is only for new properties or acquisitions.The truth:You can retroactively apply bonus depreciation to property placed in service after September 27, 2017, when the Tax Cuts and Jobs Act passed changing various rules.The IRS allows you to claim missed depreciation deductions by adjusting your current year's tax return, without needing to amend the previous year's returns.This is typically done through a change in accounting method using IRS Form 3115.

BRRRR?

I find newer investors over-using acronyms when they don't even know they mean - ROI, COC, BRRRR, etc.The most glaring old school vs. new school knowledge term that I think people should look to hear, not say, is holding paper.

Wholesaling is a solid way to dive in, especially while you build out your team and explore other strategies like BRRRR, flips, and MF. 

BRRRR?

Purchase price: $32,000 Cash invested: $58,354 Sale price: $105,000 5/17/24 purchase.Charming Little 3/1 - We are remodeling all inside and out including new roofing, this is our first project out of state, it will be a BRRRR, hopefully first of many to come.