Jason V.
Section 121 gains exclusion reported on what IRS forms if home was rental for 2 yrs??
13 August 2024 | 21 replies
Then the home was always used as a residence from time of purchase up until the last 2.5 years or so, which is NOT to be included as "non-qualified use", so the "Home" version should have 0 non-use days by the days owned, making my non-residence factor a big fat 0%, which multiplied by the gain makes my non-qualified use gain another big fat $0, meaning that my gain that is eligible for exlusion is 100%!!!!.......
Jonathan Greene
The 5 Biggest Mistakes New Investors Are Making Here In The Forums
19 August 2024 | 244 replies
I think sometimes the newbies do not see the value of the information or offer of help.there was a thread on starting on storage units by @henry Clark.
Julio Gonzalez
Cost Segregation on RV Park
12 August 2024 | 0 replies
If a Cost Segregation Study had not been performed on this $3,000,000 RV & Boat Storage Building located in Fort Pierce, Florida that was purchased in 2020, it would have had first year depreciation of approximately $10,225.
Josh Miller
STAY AWAY FROM NREIG (National Real Estate Insurance Group)
14 August 2024 | 51 replies
If you want the best coverage in case something happens, call an independent agent and tell them you want a policy with Chubb...then be prepared to write a big fat check for that premium.As Dave Ramsey used to say, drive into any major city in the US and look at the names on the largest buildings downtown...usually either an insurance company or a bank, or both.
Forest Wu
List of Syndicators/GPs to AVOID?
14 August 2024 | 134 replies
Or a short term rental fund in an overpriced community, a self storage fund in the backhills of pick a state, an ATM fund to invest in ATM's ?
Guillermo Sanchez
Brandon Turner ODC fund
13 August 2024 | 69 replies
First fund I have seen where people are experts in self storage, private credit and MHP.
Brandon Bell
Lots of equity and cash flow...what should I do?
12 August 2024 | 8 replies
But I have been looking into splitting the duplex into two condos (yes I know it is a lot of work) and I could probably get 325-350k for each, netting me 650-700k.Number:* Mortgage interest 2.5%* Mortgage principle 240k* PITI $2100/month* Rent 2200/month (current tenant on a two year lease)* Potential rent on my side $2400/month * 100k HELOC at 11% (fixed) (not currently being used)* est additional cost to split the dueplex 75-100k (conservative, probably less) *new siding 30k (just put on a new roof this year) *legal 10-15k *fire proofing 15k * 15-40k for stuff I am not aware of or underestimated on* some of the appreciation is external from the home *big grocery store put in 3min away * newly paved road in front of my house *a building that was falling down across the street has been torn down * Still a vacant lot with the foundation exposed and fencing around it (so more local improvements are on the way)Part of me wants to take the money and run but man I love that 2.5% interest rate and the $2000/month cash flow (including taxes and capx)I have thought about 1031 exchanging into more rentals, but I would like to pivot into storage units.
Henry Clark
Self Storage- Team
9 August 2024 | 0 replies
Out of town. Customer calls at 8:30 pm. His unit door is off its track. Wants to get his corvette out for the weekend to drive. He is pissed off. Someone tried to break into his unit he thinks. Got to the hotel ...
Ronald M Padilla
In need of some help/direction on what to invest on next.
8 August 2024 | 4 replies
I’ve also thought about self storage and in many places in the country you can get into a facility for $250K.
Stephen Moskowitz
HEEELLLP!! How do I find a mentor if I'm overseas????
9 August 2024 | 8 replies
You don't want to start a relationship to learn about storage units and then find out they only invest in single-family homes.3.