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20 November 2024 | 3 replies
That property has tenants which would cover the monthly payments at its current rent which is well below market value but the property would need love to justify an increase in rent.Very grateful to have made this much progress in the span of less than a year and a half and currently just trying to make sure I have all of my ducks in a row to ensure I can build these three properties into a stable few investments.Looking forward to the future,Austin
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20 November 2024 | 1 reply
When analyzing a new build/“build to rent” property as a rental, what percentages/amounts are others using for:-Maintenance/Repairs-Vacancy-CapexI’d assume it’s less than than existing homes, but by half or is it safer to use the standard percentages?
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25 November 2024 | 18 replies
Lost rent from vacancy could easily be several thousand...so, by time you add it all up, it's easily possible for a sewer line replacement to end up costing $40k+ if it involves those types of ancillary expenses.To me, spending a few hundred bucks on a scope to prevent a $40k+ capex on a property worth over half a million is one of the easiest choices I make in the world of REI!
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19 November 2024 | 11 replies
Adding half a bathroom per comps added $50k valuation.
20 November 2024 | 2 replies
I wish we could tap into equity as easy as that. let me know if I can help in any way but probably not to answer your question. if you can split the lot and sell half that might be an idea to recapitalize. that's the the only way
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27 November 2024 | 13 replies
What is a storm rips through and trashes the roof, BUT the condo project does not have enough insurance coverage to fix it, the value of the all the units in the project just went down. or, even if they are able to fix it but the coverage premium doubles so the HOA has to double the monthly HOA dues but half the complex can not afford it?
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19 November 2024 | 0 replies
Note that if you are married filing joint, only the spouse who is qualifying for REPS is able to count their hours.Step 4: Apply the quantitative testsPer Section 469(c)(7)(B), in order to qualify for REPS, you must meet both of the tests below:750-Hour Test: If you materially participate in a real property trade or business, you must spend 750+ hours during the tax year.More Than Half Test: You must spend more than half of your personal service hours in the real property trade or business in which you materially participate.Step 5: Material participation in rental activities Just because you qualify for real estate professional status does not mean that your rental activities are automatically considered non-passive.
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20 November 2024 | 9 replies
TIAI personally don't like the receipt scanning apps because I think they are overkill and they only account for half the record keeping you need to do.
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23 November 2024 | 9 replies
Finding an investment isn't even half the equation.
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19 November 2024 | 7 replies
Half-year convention: If no mid-quarter rule applies, you might claim half a year of depreciation for certain assets.2.