Keira Hamilton
What I Learned from Owning and Selling a Laundromat – Exploring a Different Asset Cla
6 January 2025 | 31 replies
We had a wash & fold service with pickup & delivery, which added complexity to the operation.
Nicholas Dillon
Requesting that your mortgage insurance be dropped
8 January 2025 | 4 replies
It'll likely take a month or two assuming that the loan is with one of the large servicing companies that move at a glacial pace.
Gregg Cohen
Buy and hold property in Jacksonville, FL
16 January 2025 | 1 reply
From sourcing turnkey rental properties to finding long-term residents, and comprehensive property management, our expert team offers a full-service solution for a truly stress-free investing experience.
Melanie Baldridge
What is MACRS classification?
10 January 2025 | 0 replies
When it comes to real estate, here's a general list of eligible assets and their depreciable lifespans that you should know: Residential Rental Property = 27.5 yearsThis includes any building or structure where 80% or more of its gross rental income is from residential units.That means:- Apartment buildings- Single-family rental homes- Duplexes, triplexes, and quadplexes- Mobile homes (used for residential rental)- Any kind of residential lodging facility where the primary purpose is long-term rentalCommercial Property = 39 yearsThis includes non-residential properties like:-Office buildings-Retail stores and shopping centers-Warehouses-Industrial complexes-Hotels and motels that do not qualify as residential rental propertyLand Improvements = 15 yearsThese include sidewalks, roads, fencing, some landscaping, and parking lots that are separate from the building.Personal Property = 5 or 7 yearsPersonal property used in a rental activity usually has a 5 or 7-year life.This includes most furniture, appliances, carpeting and various machinery.Qualified Improvement Property (QIP) = 15 yearsGenerally, this includes any improvements made to the interior of a non-residential building after the building was placed in service, excluding elevators, enlargements, and the internal structural framework.Computers and Related Peripheral Equipment = 5 yearsVehicles = 5 yearsNote that the land itself is not depreciable.
Arthur Schwartz
Software for seller financing
29 December 2024 | 7 replies
Quote from @Patrick Roberts: Echoing what Chris said - use a third party servicer.
Jason Allen
Subletting Expense deductions
3 January 2025 | 2 replies
In a situation where you were doing an arbitrage (renting it from the owner, then yourself re-renting it to someone else) your costs to renovate/fix it up while you're using it would be able to be capitalized and depreciated by you once your rental was in service (available for rent to others).
Jonathan Worrell
Mentoring and Advice
13 January 2025 | 3 replies
That does not require employment or job seasoning instead it uses the rents to qualify and you can take out up to 80% LTV cash.Use the cash to put down on the next 1-2 or more properties as long as the other properties are debt servicing themselves it opens up more opportuities to buy more future assets and increase your passice income.
Rae Ashleigh
Recommendation Property Management Cincinatti OH/Covington KY
2 January 2025 | 4 replies
Do you provide move in and move out reports How many pictures do you take of the property prior to tenant moves in and after the tenant moves outDo you get weekly reports when the property is vacant what prospective tenants are saying about your homeDo you provide monthly newsletters to your tenantsDo you hold investor education classes to help me become a better investorDo you have single point portfolio based management services?
Frank Pyle
Seeking Advice on Financing an Airbnb/Short-Term Rental
11 January 2025 | 13 replies
The challenge we're facing is the lack of short term rental data for the appraiser, and we won't know if it will meet the debt service coverage ratio (DSCR) requirements until the appraisal is complete.Has anyone dealt with a similar situation?
Llamier Guzman
Real Estate License VS investment
9 January 2025 | 1 reply
(I plan to move to Florida in a few years after my military service which will be up in 2 1/2 years, but i also want to gain my license in Florida).