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23 September 2024 | 10 replies
., structuring it as an installment plan if needed).If you can’t find an individual investor, you might look for a property management company or real estate investor group that specializes in STRs.
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23 September 2024 | 6 replies
Bonus depreciation is just a special part of the US tax code.It allows you to take accelerated depreciation on portions of your property depending on when an asset is put into service.At the time of this writing, you can write off a huge portion (60% in 2024) of many qualified components that have a useful lifespan of 15 years or less.That means a certain percentage of things like landscaping, sidewalks, latches, appliances, fences, certain flooring, etc is depreciable in year 1.The bonus depreciation rate percentage changes yearly depending on the administration and the tax code.For years 2015 through 2017 first-year depreciation for all the items on a 15-year schedule or less was set to 50%.It was scheduled to go down to 40% in 2018 and 30% in 2019 and then 0% in 2020.But then Trump got elected, and he enacted the Tax Cuts and Jobs Act.That moved the bonus depreciation percentage to 100% from 2017 to 2022.In 2023 it went down to 80% and it’s currently at 60%.Depending on who gets elected again, 100% may be back on the table.Only time will tell.We know that the US government wants to incentivize more development and ownership of RE.They want Americans to continue to build and maintain our physical world.That’s why real estate is one of the most tax-advantaged assets in the US.Depreciation and bonus depreciation for RE are very positive and will likely continue in the years ahead.
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20 September 2024 | 10 replies
I would like to find a brokerage that specializes in investment residential real estate.
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23 September 2024 | 15 replies
Hello everyone, I've done 3 buy and hold rental properties, and now I want to do flips, I need investors and I have some that have shown interest, in addition to speaking to private lenders that are willing to fund 70% of the LTV (based on the desired property)I'm seeing a lot of deals from wholesalers, but the problem is, some of them close in 2 weeks and some as long as a month, and they don't take conditional offers, and the good ones fly off the shelf really quick.My question is, how does someone like me close one of those deals within this short period, how do you arrange the equity and financing with little to no inspections sometimes even.I'd like to know how do I prepare myself to be able to close one of these good deals right away when they are offered to me and many others?
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23 September 2024 | 13 replies
I am sure, alas one cannot specialize in all markets:)
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23 September 2024 | 20 replies
So we made preparations and in July this year we purchased an RV, remodeled it to fit our style, and have been in there ever since.
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24 September 2024 | 27 replies
Also, be prepared to WALK AWAY from a deal.
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21 September 2024 | 7 replies
Highlight the cash flow and equity in your property when negotiating with lenders, as this reduces their perceived risk.Ultimately, you may need to reach out to multiple lenders or brokers who specialize in DSCR loans to find one willing to take a second position.
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21 September 2024 | 6 replies
However, you should be able to receive emails for your leads and also text messages can be enabled in some special cases.
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20 September 2024 | 7 replies
I'll most likely be working with an agent who specializes in mixed use properties and works for a national firm.