Melanie Baldridge
Bonus depreciation ?
16 December 2024 | 0 replies
Bonus depreciation is just a special part of the US tax code.It allows you to take accelerated depreciation on portions of your property depending on when an asset is put into service.At the time of this writing, you can write off a huge portion (60% in 2024) of many qualified components that have a useful lifespan of 15 years or less.That means a certain percentage of things like landscaping, sidewalks, latches, appliances, fences, certain flooring, etc is depreciable in year 1.The bonus depreciation rate percentage changes yearly depending on the administration and the tax code.For years 2015 through 2017 first-year depreciation for all the items on a 15-year schedule or less was set to 50%.It was scheduled to go down to 40% in 2018 and 30% in 2019 and then 0% in 2020.But then Trump got elected, and he enacted the Tax Cuts and Jobs Act.That moved the bonus depreciation percentage to 100% from 2017 to 2022.In 2023 it went down to 80% and it’s currently at 60%.Depending on who gets elected again, 100% may be back on the table.Only time will tell.We know that the US government wants to incentivize more development and ownership of RE.They want Americans to continue to build and maintain our physical world.That’s why real estate is one of the most tax-advantaged assets in the US.Depreciation and bonus depreciation for RE are very positive and will likely continue in the years ahead.
Dani Murai
General Contractor that services the Torrance/Gardena Area
17 December 2024 | 3 replies
Only thing better would be initial deposit and then paid in full upon Certificate of Occupancy and punchlist complete.Of course, standard items should also be checked: licensed, insured, willing and able to pull all required permits, reference checks.I would also commonly avoid the cheapest bid you get.
Myers Bryan
Floorplan software recommendations?
14 December 2024 | 2 replies
Planner 5DPlatform: AndroidFeatures:Supports both 2D and 3D floor plans.Allows you to scan walls and create floor plans as you walk through a property.Offers a vast library of furniture and decor items to customize your plans.Bonus: Projects can be synced and edited on Windows through their web platform3.
Matt Wan
Getting a mortgage as a non-resident US citizen
23 December 2024 | 15 replies
You seem to already have US based accounts, so you are good there too.The last item here is the definition of "good".
Alyssa Dinson
What has been your experience with out of state investing?
16 January 2025 | 78 replies
Your PM will be able to help you manage everything from leasing, regular maintenance to bigger ticket items like replacing your roof and managing tenants.
Jae Yoo
Help finding a lawyer to proceed against a bad property management company
17 December 2024 | 4 replies
The final straw was when my property went into abatement after an inspection, due to the property management company's failure to address tenant requests for the exact items that caused the issue.
Zach Howard
Class C: Personal loan for 200k, should I use it for multiple down payments, or...?
9 January 2025 | 44 replies
Their boss or officer becomes your rent collector if needed.
Yosef Sara
Need Advice: Contractor Dispute Delaying Project Completion in River forest
17 December 2024 | 1 reply
I asked for proof (receipts, itemized costs, etc.), but he hasn’t provided any satisfactory documentation. 2.
Mark S.
American Homeowner Preservation (AHP) Fund
19 January 2025 | 354 replies
They keep any profits above 12% and it appears they charge about a 2% fee plus a couple other nonsense items (based on my very brief skimming through some info).
Raghavendra Pillappa
MTR: Need tips on how to furnish and take photos
14 December 2024 | 4 replies
Depending how long your LTR was in there, you might need to fix or update a few items.