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6 January 2025 | 14 replies
Here are some thoughts I hope help.The benefit of selling now is that as an inherited property you will likely pay no taxes because you inherit it at a stepped-up basis.I'm not a huge fan of buying a house that has lot rent.
31 December 2024 | 8 replies
Account ClosedI recommend that have a consultation with your tax accountant and/or financial advisor on ways to reduce your taxes.
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3 January 2025 | 8 replies
Expenses will level off: Multifamily operators have been plagued by expense increases in the form of taxes and insurance, for the last few years, especially in the south, and especially in Florida and Texas.
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1 January 2025 | 4 replies
@Kevin Hoover, with certain types of entities it is possible to contribute property to and distribute property from that entity without triggering a tax event.
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8 January 2025 | 8 replies
And would this be considered "capital gains" since it's re-sold under 1-year therefore having to pay a large % of tax on the profit?
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31 December 2024 | 8 replies
That doesn't pass a cursory BS test, and risks the appraiser calling out either fixed plumbing + permits, or a licensed professional remove the bathroom.
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12 January 2025 | 185 replies
Non pay of prop tax's non pay of insurance Waste, etc.
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2 January 2025 | 4 replies
Additionally, consider operational costs like cleaning, staffing, and marketing, as they can quickly add up.For management, outsourcing to a professional property manager or leveraging tech platforms for bookings and operations could streamline things, especially if you plan to scale.
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1 January 2025 | 2 replies
Wanted to know if landscaping is a tax deductable expense in general and if it differs when one unit is owner occupied.
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31 December 2024 | 7 replies
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