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3 January 2025 | 2 replies
In Columbus, it's pretty straightforward if you want to sell a property.
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14 January 2025 | 7 replies
Asking in the correct forum will get a better response.Read the RULES!
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27 January 2025 | 6 replies
However, if you sell instead of rebuilding, the IRS may include part of the payout in your taxable gain unless reinvested under the §1033 involuntary conversion rules, which allow you to defer taxes by purchasing a similar property within two years.If the property was your primary residence, you may exclude up to $250K (single) or $500K (married) of gains if you lived there for at least 2 of the last 5 years, likely resulting in no taxes owed.
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28 January 2025 | 6 replies
Yes, Oklahoma is a great market to consider, especially for multifamily properties:Affordability: Oklahoma City (OKC) and Tulsa have duplexes and small apartment buildings within a reasonable price range.Landlord-Friendly Laws: Makes property management less stressful.Stable Cash Flow: Properties in Oklahoma often meet or exceed the 1% rule, providing consistent rental income.Growing Economy: Both cities are seeing population and job growth, boosting demand for rentals.Tips for Getting Started:Do Your Homework: Use tools like BiggerPockets calculators to analyze deals and ensure cash flow.Focus on Neighborhoods: In OKC, check areas like Yukon, Edmond, or Midwest City.
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22 January 2025 | 0 replies
Here are some key elements to include:Lease Agreements: Ensure your contracts reflect the latest laws, such as notice periods for entry or rules around security deposits.Fair Housing Compliance: Familiarize yourself with federal, state, and local fair housing laws to avoid discriminatory practices.Property Standards: Regularly inspect your properties to ensure they meet safety and habitability standards.Tax Documentation: Keep accurate records to comply with tax reporting requirements.4.
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14 January 2025 | 8 replies
I ended up with some rules, couple here:1.Discrimination - Never Rent to Attorneys, Law students or Law Professors.Learn all you can about the Housing Laws i.e.
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19 January 2025 | 2 replies
With the economy of scale in multifamily, each additional unit nets you a little more than the last, as a rule of thumb.
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30 January 2025 | 8 replies
If you're the only one in your company, this may not be necessary since you set the rules.
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14 January 2025 | 3 replies
Asking in the correct forum will get a better response.Read the RULES!
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7 February 2025 | 31 replies
Quote from @Jeff Roth:Monthly rents for mid-term rentals are about 20% (+/-) higher than unfurnished similar long-term rentals.I would not base the income potential for a MTR on a rule of thumb.