
8 January 2025 | 8 replies
Buying through an agent may provide more transparency, while sheriff sales and auctions can offer deals but often come with risks, like limited property inspection or legal complications.

10 January 2025 | 7 replies
How long did it take to complete those first three builds?

3 January 2025 | 4 replies
You will have a leg up on the language, transactions, inspections etc.

14 January 2025 | 9 replies
I feel a loss of direction and that makes it really hard for me to focus and build.Do we keep at building a portfolio of small multi family (very abundant in my market, very rare to find anything above a triplex for sale), with plans of selling the portfolio and 1031'ing into larger properties?

17 January 2025 | 9 replies
If this job popped up out of the blue, your intent was not to move within the 1st year, so you may be ok.If you are planning on building a portfolio of homes, it is safest to stick in your home for 12 months to reduce the appearance of potential fraud.

13 January 2025 | 5 replies
Either way, best of luck building your portfolio!

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.

19 January 2025 | 61 replies
I started out with little to nothing when I was in the Army and building up properties slowly.

9 January 2025 | 107 replies
The strength of what you have done so far is you are building equity.

7 January 2025 | 5 replies
This way they can't claim ignorance.I would also require a move out inspection and make it the day after they are supposed to be moved out.