Michael Plaks
EXPLAINED: sending 1099s to contractors and vendors
15 January 2025 | 13 replies
I've had some not happy when I have asked them to split it out.I've tried asking questions to the IRS customer service reps, and didn't have the best luck.While I cannot cite a specific official guidance on this issue, I consider debit cards exempt.
Keilon Morton
Hard Money terms for partnership
7 January 2025 | 5 replies
I am offering 15% interest on the initial investment plus 40% ROI after a six-month grace period.
Jaron Jackson
How to get rent payment from previous owner?
10 January 2025 | 8 replies
It's always hard to fix things after closing, but you should try anyway.
Michael Hayes
AI SMS Marketing
30 December 2024 | 2 replies
We use a conversational AI and appointment setting platform in follow up, outbound, and after hours lead intake.
Hudson Filippi
Using FHA Construction to House Hack?
30 January 2025 | 8 replies
After diligent searching there are ZERO duplexes for sale within an hours drive of my work place.
Don Konipol
A Tax Lien Warning Story
21 January 2025 | 6 replies
Since both lots had the same mailing address, this was the address used by the foreclosure attorney when posting the sale.
Spencer Ware
Retired NFL Player 2x SB Champ
27 January 2025 | 48 replies
After all, he also was in real estate AND a successful baseball player.
Sean Gallagher
Scaling out of state while busy working my W-2
12 January 2025 | 23 replies
My estimation was with leverage I could do about 7 homes a year and each year after it would increase.
Melanie Baldridge
What is MACRS classification?
10 January 2025 | 0 replies
When it comes to real estate, here's a general list of eligible assets and their depreciable lifespans that you should know: Residential Rental Property = 27.5 yearsThis includes any building or structure where 80% or more of its gross rental income is from residential units.That means:- Apartment buildings- Single-family rental homes- Duplexes, triplexes, and quadplexes- Mobile homes (used for residential rental)- Any kind of residential lodging facility where the primary purpose is long-term rentalCommercial Property = 39 yearsThis includes non-residential properties like:-Office buildings-Retail stores and shopping centers-Warehouses-Industrial complexes-Hotels and motels that do not qualify as residential rental propertyLand Improvements = 15 yearsThese include sidewalks, roads, fencing, some landscaping, and parking lots that are separate from the building.Personal Property = 5 or 7 yearsPersonal property used in a rental activity usually has a 5 or 7-year life.This includes most furniture, appliances, carpeting and various machinery.Qualified Improvement Property (QIP) = 15 yearsGenerally, this includes any improvements made to the interior of a non-residential building after the building was placed in service, excluding elevators, enlargements, and the internal structural framework.Computers and Related Peripheral Equipment = 5 yearsVehicles = 5 yearsNote that the land itself is not depreciable.
David Milanese
Wholesale knowledge please!
28 January 2025 | 11 replies
Consult with an attorney to provide a purchase and sale agreement in your respective state with an assignment exhibit included.