Charlie Loomis
From Master Metered to Indivdual
13 January 2025 | 5 replies
we just managed to get ong to run all new lines and separate meters for our whole apartment complex at no cost to us.
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.
Jerell Edmonds
Spilt utlities or add another meter ??
1 January 2025 | 12 replies
Pay to separately meter the utility.
Sushil Iyer
Re-financing separate properties as a group in a single loan
10 December 2024 | 22 replies
Is it possible to re-finance these separate properties as a group in a single loan?
John Friendas
Maximum # of DSCR Loans Lenders Will Give?
9 January 2025 | 8 replies
Each DSCR loan is separate and qualifies separately, so one doesn't necessarily affect the other except for the liquidity needed to close since you'll have multiple down payments/closing costs for each transaction.
Ilia Zakharav
Convert 6 unit multifamily into condos and 1031 individual units
6 January 2025 | 1 reply
I bought 6 unit property in Wildwood,NJ,in November 2024, doing rehab now, should be done by May 2025I am planning to subdivide 6 unit building to 6 separate condos and sell fall 2026, , if there are any experts in 1031 that can help me?!
Tyler Bolton
LLC versus personal umbrella policy for Indianapolis SFH rental
12 January 2025 | 7 replies
Also, keep in mind that an IN multi member LLC would require a separate tax return, so you would want to budget for extra admin fees.
Benjamin Carver
Building an ADU in Raleigh NC: Here's What You Need to Know
6 January 2025 | 8 replies
Detached: A separate structure like a tiny house, guest house, or mother in-law suite in the backyard.2.
Rafael Valdor
Renting out my townhouse: DIY vs. PM vs. Realtor
11 January 2025 | 14 replies
Property management is a separate license in Alberta.Correct.
Alexandra Winkler
Bank Account Operations
30 December 2024 | 1 reply
if you have an LLC and both properties are under it, you just need 1 operating account.If both are under your personal, 1 bank account specifically for the rental is enough for operating.Security Deposits should always be a separate account altogether.