If you want this reflected in your financial statements, here is our process: We move the COGS to inventory on the last day of the year and back to COGS on the first of the following year.

Pulled this together for a RE Investor meet up on how "today's tech stack" is breaking down historical concerns of STRs being a time-suck for RE Investors when looking at either purchasing properties for STR deployment or evaluating assets for STR usage vs other strategies.

If you want to JV your wholesale deals you want to do it with someone you know, like, and trust over time and have met in person.There’s nothing more wasteful and inefficient (in the private sector) than financial intermediaries engaging in a “daisy chain” to try to close “undoable” deals.

As a real estate agent working in the investment space, I’m always looking to fine-tune my approach and discover new ways to find potential deals, whether it's off-market properties, distressed assets, or any other lead sources.Some questions I’m thinking about:What CRM tools have you found the most helpful?

Also, building a portfolio of cash flowing, appreciating assets is a great way to create long term wealth

@Nakul PatelBest asset protection is an insurance policy, you open a LLC then you are gonna have to pay like $850 a year for it if you are in California even if it’s a LLC in another state plus other fees and costs.

I’m in my late 20s and not in a rush to retire, but my goal is to achieve financial independence in the next 10 years through real estate.I’m considering two options:Option 1: House Hacking with a Multifamily PropertyI probably have to use all my cash for the down payment, and the rent income won't cover the mortgage.

Wholesalers typically do not carry Errors and Omissions (E/O) insurance, so even if the court rules in your favor, they might not have the financial means to compensate you.Furthermore, ensure that a reputable title company handles the transaction, as some companies may cut corners.

As others have mentioned, you will be able to take bonus depreciation, for certain assets, which won't be pro-rated.When you get the cost segregation study, it will break down the home into several buckets39 year property, 15 year property, 7 year property, 5 year property and land.The remaining assets will be pro-rated when it is placed into service.For example, a building placed into service in January will have a higher depreciation expense than the same building placed into service in November.Best of luck.

It really depends on your specific situation.It's good you're thinking about the operational and bookkeeping component for your financial account structure to make things easier on yourself and any financial team members you have or may have in the future.You're ahead of the curve!