The people advising to put properties into LLCs and not the loan, and add additionally insured to their policies have no idea what they're doing.The fact is everyone doing this in an attempt to limit their liability, is actually doing the opposite and greatly increasing their liability.

Potential Advantages- Growing Housing Market: The median home price in Shelby has increased by 16.6% year-over-year, reaching $295,000 as of July 2024.

Anyone else notice an increase in BP users responding in forums with what appear to be ChatGPT-generated answers?

Hi Wayne,Other neighborhoods to consider are the following: Near Eastside: This area has been seeing redevelopment and could offer good opportunities.Irvington: A historic neighborhood with a lot of charm and potential for renovation projects.Garfield Park: Another area that's been on the upswing and attracting investor attention.Mapleton-Fall Creek: This neighborhood has been targeted for revitalization efforts.Riverside: Close to downtown and has been seeing increased interest from buyers and investors.Reach out if you'd like to talk about financing options!

Some lenders may have an "overlay" or may not be comfortable with SRO rental income on a newly acquired property, but I have done transactions using SRO lease agreements.Typically speaking, if you qualified to purchase your primary residence, and you have not increased your debts or had a decrease in income, you should qualify for an investment purchase assuming you have a 25% margin on projected rental income vs the mortgage payment.

It increased my insurance cost by 21% but we deemed it worth it considering we have properties in FL which is an area susceptible to hurricanes.  

Thanks to the Cost Segregation Study, the property investors accelerated the depreciation that the first year depreciation was approximately $394,000.The use of the accelerated depreciation strategy helps real estate investors to reduce the tax liability immediately which therefore increases their bottom line due to the offsetting of income.

As an agent, I always want my clients to know what their properties are worth because (of course) I want to sell the properties, but I also like people to know the best tax strategies. 9 times out of 10, you are better off holding the property for a while to get increased appreciation, cash flow, better debt, more cash flow, etc. 

A contingency in this case means setting aside extra funds to cover any unexpected cost increases during construction.

Continue on a month-to-month lease for $XXX + a 25% increase.3.