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13 March 2024 | 8 replies
In some cases, you may start cash flowing right away, while in others, it might take some time to stabilize the property and attract reliable tenants.
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13 March 2024 | 11 replies
I also am aware of the work force in Cleveland having done 1ks and 1ks of renos/ repairs, more than a dozen office staff, 30 contractors and 6 full time handymen, it is NOT easy finding reliable workers.
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12 March 2024 | 11 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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12 March 2024 | 0 replies
We are now hiring contractors as we seek ways to secure reliable professionals.
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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
It takes a considerable amount of skilled and reliable labor to complete 25 homes, so we suggest subcontracting all the trades and retaining a small in-house crew of experts in individual trades such as framing, masonry, roofing, etc.
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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.