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2 January 2025 | 14 replies
Your best advice would come, for a Tax Advisor NOT a Tax Preparer (CPA).
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8 January 2025 | 11 replies
Focus on saving and researching financing while networking with real estate professionals to prepare for your first investment.Dont forget to add tax savings to your ROI for better decision making.This post does not create a CPA-Client relationship.
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26 December 2024 | 1 reply
Preparation is key, and relationships are everything.When closing a property deal, the funds typically required include a purchase deposit, which is refundable during the due diligence period, and an additional nonrefundable extension deposit.
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28 December 2024 | 16 replies
One other possibility to prepare for is that the court may ask the two of you to meet with a mediator prior to the judge hearing the case.
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21 January 2025 | 59 replies
We do all phases of the operation through. buy, rehab, rent, repairs, bookkeeping, tax preparation, etc.
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29 December 2024 | 8 replies
Maybe go prepared with a spreadsheet of fix up costs prior to just hitting her up with that.
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30 December 2024 | 6 replies
Tools like QuickBooks or even a simple spreadsheet can help you mentain compliance and prepare for audits.Reinvest WiselyScaling a short-term rental business often requires reinvestment in marketing, property upgrades, or even hiring help.
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6 January 2025 | 8 replies
And as investors we should know this, but always anticipate higher costs and longer waits.EXAMPLE Breakdown of Costs:Plan Purchase: $1,500Permitting Fees: $2,500-7,500Site Preparation (grading, utilities, foundation): $20,000–$30,000ADUs require separate utility connections for water, electricity, and sewer but you can tap into existing utilities at the primary houseIn Raleigh you CANNOT split lots fee simple, so setting up completely separate utilities would not allow you to section off the ADU as of nowYour ADU must be on a permanent foundation (no wheels, no ability to move the structure)Construction (labor and materials): $100,000–$150,000Low-grade: $150–$180/sq ft averageMid-grade: $180–$220/sq ft averageHigh-end: $220–$250/sq ft averageLandscaping/Finishing Touches: $5,000Total Estimated Cost: $125,000–$200,000You could easily spend $200k+ with super end high finishes, custom designs, complicated sitework, adding a second story or more sqft, etc.
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26 December 2024 | 2 replies
We are currently preparing my real estate strategy, of course using the Bigger Pockets Strategy book, as a previous business owner in another industry, there’s a lot of good and refreshing information here in this Strategy book.Â
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30 December 2024 | 6 replies
It's one of those things where if you are going to require it, you have to be prepared to evict for not getting it.