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1 January 2025 | 3 replies
How do you calculate rehab cost given you can’t look inside?
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2 January 2025 | 4 replies
What is your average work order cost for the owner?
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1 January 2025 | 12 replies
This can be very expensive and is usually the worst choice because you can't justify the cost.2.
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4 January 2025 | 11 replies
My lease has a sublet fee (2 weeks is guest by lease more than 2 weeks in a year is sublet) that is costly enough ($100/night per person which is about what a cheaper hotel is here) that makes sure tenants do not have others move-in without informing us.
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7 January 2025 | 7 replies
Here’s what I’ve learned so far: Investors want deals with solid profit potential—so they’re always looking at the numbers: a good ARV, reasonable rehab costs, and enough room to make a return.
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2 January 2025 | 25 replies
STR it will cost you big.this isn't a difficult job depending on the fridge location.
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8 January 2025 | 9 replies
Be mindful of short-term capital gains tax, as profits from flips held for less than a year are taxed as ordinary income, and frequent flipping may result in self-employment taxes.While profits from flips do not qualify for 1031 exchanges (since flips are considered inventory, not investment properties), you can minimize your tax burden by deducting allowable expenses like renovation costs, loan interest, and holding expenses.If you're considering diversifying into rentals, explore opportunities to benefit from long-term tax advantages such as depreciation and lower long-term capital gains rates.
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6 January 2025 | 2 replies
Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.
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6 January 2025 | 11 replies
That for them to consider it, they would want to order three appraisals, and then the loans would all have to be cross collateralized over the three properties, and it seemed over the top and costly way to borrow $75K.
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2 January 2025 | 6 replies
A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.