Joseph Hossenlopp
Minoan to furnish rental properties
17 January 2025 | 27 replies
What I find to be most valuable: Ease of use, cost-savings and efficiency and here's what I mean: If using an interior designer to furnish your rental, they will hand you a list of supplies + furniture to buy and what I was able to do with Minoan is upload that list as a CSV file and then they come back with a quote of all of the items they can fulfill along with their respective discount.
Katie Hendrickson
Seeking Advice: Selling and Financing a Geodesic Dome in Eureka Springs
12 January 2025 | 1 reply
The property is unique—it’s off-grid with a well, solar power, and a fully finished interior.
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.
Kenneth Jenkins
Maintenance Expectations in Metro Detroit
3 January 2025 | 6 replies
Licensed with permits ~$4,000.Full replacement of all water supply lines and shutoffs from the interior water meter with PEX and an open basement. 1 kitchen 1 bath 1 laundry.
Ashley Larkin
HELOC Question for my LTR Under a Business Name
9 January 2025 | 2 replies
Some, like the last one we got in place, used a drive by estimate of value rather than a full interior appraisal.
Karma Abdula
Poly Fix and Flip
31 December 2024 | 0 replies
Purchased for $69,000, I tackled everything from a new roof to interior updates, transforming it into a move-in-ready home.After months of surprises (and a few headaches), I sold the property for $145,000.
Kyle Carter
Forclosed housing informational - personal experiences
15 January 2025 | 5 replies
House gets foreclosed on when a borrower is not paying its debt obligations - typically its mortgage.buying foreclosures is not for the faint of heart as you have no idea of the interior of these properties lastly while it can be beneficial also realize if there are a lot in an area those homes are the new comps when trying to sell so it lowers home values in an area
Michael Challenger
First Time (Potential Buyer) Seeking Advice on House Flipping in Charlotte, NC
7 January 2025 | 5 replies
HML lenders want to see a clear path to profit, so ensure your ARV and rehab estimates are solid.For next steps, definitely prioritize a detailed inspection to confirm HVAC and interior needs.
Abby Biter
My Short Term Rental Barely Profitable
8 January 2025 | 11 replies
You interior design definitely needs work.