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14 October 2024 | 13 replies
Or better, buy a property that is not subject to an HOA.Also, if you are leasing for 6 months or less, you will be subject to the 6% Florida short term rental tax.You may also have city and county additional taxes, business tax receipt, and mandatory inspections for short term rental depending on the jurisdiction where your property is located.
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16 October 2024 | 25 replies
Let me address your questions and provide additional clarity on key aspects:1.
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9 October 2024 | 1 reply
"Additional Insured" on Insurance Policy to Property as CollateralHow specifically should a private lender be mentioned on the owner's insurance policy to a property used as collateral to a loan.
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16 October 2024 | 5 replies
I could have expanded my portfolio sooner if I had recognized the potential of using financing strategically.For example, after selling my HUD foreclosure condo in Northern Virginia for $440,000, I reinvested the profits into additional properties.
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15 October 2024 | 0 replies
Here’s an example of bonus depreciation.Here are some of the current trends that are highlighting the importance of a cost segregation study.Contract Logistics Expansion: Experiencing growth in contract logistic divisions leading to outsourced warehousing and distribution activities.Warehouse Technology Advancements: Integration of AI, robotics and IoT allows for operational efficiencies including reduced labor costs and improved safety.Warehouse Automation Growth: Significant growth signals a need for efficiencies and the adoption of new technology.Warehouse Space Expansion: There are ongoing developments in the warehouse space to help support the growing demand for infrastructure and warehouse space.Robotics and AI investments: There is a demand for faster throughput and immediate fulfillment which is causing investors to invest more into AI and robotics.Cost segregation becomes an even more critical tax strategy as there is an increase in investments in automation and technology as it frees up cash by creating additional tax savings.Some of the financial benefits that a warehouse investor can expect from a cost segregation study include:An increase in cash flow for automationImmediate tax savingsEnhanced warehouse property valueImproved warehouse ROI by reducing tax liabilities and increasing cash flow.There are many items that can be reclassified for accelerated depreciation through the use of a cost segregation study.
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15 October 2024 | 4 replies
This appreciation allows you to build equity, which you can later tap into by selling the property or refinancing to buy additional assets.Real estate also offers significant tax advantages.
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19 October 2024 | 15 replies
We purchase it with seller financing and we built a caretaker’s house and popped the top adding an additional story to the house.
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14 October 2024 | 37 replies
Does this require your employer to setup the plan?
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16 October 2024 | 10 replies
In addition refi appraisals are traditionally conservative so refi ARV ~$290k.
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14 October 2024 | 9 replies
For growing 1031 Prime, in addition to BP I’d suggest targeting masterminds, REIAs, and local real estate meetups.