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17 December 2024 | 3 replies
@Dani Murai, while I can't give you a name of anyone in your area (I am not from there), when you are interviewing contractors, here are a couple things I have seen:I avoid any contractor that has a draw schedule based on percentages, i.e. 1/3 up front, 1/3 at halfway completed and 1/3 at completion.
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27 December 2024 | 18 replies
Because of illiquidity and the fact that it was in default and a foreclosure sale was scheduled, it was valued at $21K.
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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.
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19 December 2024 | 8 replies
Hey @Brad Pierce I use Rent Redi for managing tenants, collecting rent, sending reminders, scheduling work orders with contractors, etc.
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16 December 2024 | 19 replies
I’ve bought my primary with various Schedule C income and refinanced a primary with lots of schedule c and a number of properties (mostly owned in LLCs but reported on my personal return).
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7 January 2025 | 16 replies
I used AI to help me create an accelerated learning schedule and I believe financing deals is in another week or two out before I really start a deep dive into it but its been on my mind since the beginning of my journey.
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20 December 2024 | 27 replies
Different submittal process, different scheduling of inspectors, different process with the inspection.
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20 December 2024 | 14 replies
You'll want to know what the costs to close, what their points are, and what their repayment schedule looks like.
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14 January 2025 | 329 replies
We cannot even file for eviction until at least August 20th, and with the inevitable backlog of cases, we're looking deep into the fall to have the cases heard, much less the time to get the warrant and actually schedule the set out.
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17 December 2024 | 17 replies
These softwares have a lot of functionality, but honestly there is a steep learning curve and the functionality is probably overkill for most rehabbers.FlipperForce - Web-based House Flipping Software built specifically for flipping & rehabbing houses w/ Estimating, Gantt Scheduling, Task Management & Budget ManagementGeneric Project Management SoftwaresThere are nearly an infinite amount of potential generic Project Management softwares available that provide powerful functionality for managing project schedules, tasks & documents.