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13 March 2024 | 11 replies
I think if you want to put in the sweat equity to do direct mailing, focus most of your energy in researching a specific property owner and specifically target a narrow property owners with specific marketing material probably better than spending money on large number of postcards.
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12 March 2024 | 0 replies
She started yelling and screaming and I'll be honest, I wanted to match her energy in the moment.
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12 March 2024 | 4 replies
.- Use cost segregation studies to expedite depreciation of your properties to offset large income gains.Entity Structure- Choose appropriate legal structure (LLC, partnership, or S corporation) with consideration for different tax implications.Tax Credits- Explore available credits, like energy-efficient or historic rehabilitation credits.Qualified Business Income (QBI) Deduction- Check eligibility for QBI deduction, providing up to a 20% deduction on qualified business income.Record Keeping- Keep accurate and organized records for tax compliance and audits.State and Local Taxes- Consider varying state and local tax implications, including property and income tax rates.Tax Planning- Engage in proactive tax planning, consulting with professionals for a comprehensive strategy.Tax Changes- Stay informed about changes in federal, state, and local tax laws affecting real estate investments.Remember to consult a real estate tax professional for personalized advice based on your specific situation.
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12 March 2024 | 4 replies
Focus on markets with strong job markets, affordability, and economic development.
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12 March 2024 | 5 replies
You're asking someone to spend a lot of time and energy to share what they've spent years - maybe decades - learning and developing.
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11 March 2024 | 6 replies
Many probably are.Just be careful about getting sucked into a new career and not having the time/energy left to invest.
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12 March 2024 | 8 replies
The local power company and Energy buyer contracts are set, land-lease contracts are set, and the solar equipment are all in place.
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12 March 2024 | 4 replies
For free resources and data, websites like the, FRED, Statistica, YCharts, Trading Economics, and Local government or chamber of commerce are great places to start.
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12 March 2024 | 36 replies
However, there are other strategies you can consider to optimize your tax situation:Maximize Deductions: Ensure you're fully utilizing all deductible expenses related to your rentals, such as maintenance, repairs, property management fees, and travel expenses to the properties.Depreciation: Make sure you're taking full advantage of depreciation on the properties, which can significantly reduce taxable income.Cost Segregation Study: For larger properties, a cost segregation study can accelerate depreciation on certain parts of the property, offering more upfront tax savings.1031 Exchange: If you're considering selling any properties, a 1031 exchange allows you to defer capital gains taxes by reinvesting the proceeds into another rental property.Energy-Efficient Improvements: Tax credits may be available for making energy-efficient improvements to your properties.Rod
11 March 2024 | 4 replies
I am new to the Richmond area so don't know the Counties well - any suggestions on areas to look to find properties with better deal economics?