It wasn’t a huge payday—$5,000—but what I gained from the experience was far more valuable than the check.It started when I got a lead from an older woman who owned a house in New Hampshire but lived in Maine.

I specialize in lead generation for agents and wholesalers, and I’m here to learn and share strategies

He ended up sifting through a lot of unqualified leads.

Any thoughts on Bloomfield, NJ or other towns that could appreciate well and have or lead to positive cash flow? 

A lead can come in at the most unexpected times, and how quickly you respond can make or break a deal.

It allows a substantial portion of the asset's cost to be deducted in the first year of service.In 2023, the bonus depreciation rate is 80%.In 2024, it decreases to 60%.In 2025, the rate further reduces to 40%.COST SEGREGATION:Cost segregation involves dividing a property into its individual components for tax purposes.Some parts age faster, like carpets or paint.Your CPA can use this info to more accurately depreciate elements of your property leading to potential tax savings.BASIS:Your basis is the initial price that you paid for your property, including any expenses or improvements.Knowing your basis is crucial for tax purposes, as it's used to evaluate depreciation & determine the capital gains or losses if/when your property sells.LAND VALUE:This is how much your land is worth without any buildings or improvements.Land doesn't get old like buildings, so you can't depreciate it.

You do have to be aware of cultural differences and other challenges:- In other countries, workers ALWAYS take their birthdays off- You should inquire about & respect local holidays- Timezone differences of more than 2-4 hours, can lead to mysterious "sick" days.

A tenant may only be evicted on this basis if the property is being demolished or if renovations will a) substantially modify or replace a structural, plumbing, electrical, or mechanical system, and require permits, or b) remove unsafe materials, such as lead paint, mold, or asbestos, from the unit.

I also want to avoid the insurance company issuing out a payment in both the names of the Lender and property owner .... which could lead to a dispute.For context, I lent money privately to another investor, who put up their non-homestead property as collateral.

I could probably continue to source leads by increasing my web presence and some local advertising, someone more local to the area would have a clear advantage, I believe.