Dennis Smith
MTR-Mid Term Rentals class recommendations
27 September 2024 | 27 replies
On a 90 day rental even 1/2 month takes a huge percentage of gross income, so basically you need to eliminate use of brokers, MLS, etc.
Devin Bost
Do I need a property manager just to manage bookings?
27 September 2024 | 9 replies
Other options like Vacasa or Casago might offer more complete services if you’re willing to pay a higher percentage (18%+), which includes maintenance, check-ins, and restockingConsiderations for a Guest Services Manager:The alternative of hiring a local guest services manager at a fixed rate could work, especially if you only need them to handle physical tasks (e.g., greeting guests or handling emergencies).
Marc Shin
Sewer scope inspection revealed a cracked pipe underground
27 September 2024 | 9 replies
You could agree to raise the property price by some percentage of the repair and finance it into your mortgage to avoid taking the financial hit in cash if you are financing the purchase.
Charles Burgess
Refinance Rental Portfolio
24 September 2024 | 15 replies
Usually, they allocate a certain percentage of the loan to each house when you initially close your loan - based on values but then they also add a premium for the release so you're paying 110 or 120% of the allocation of the loan when you sell..So lets say you have 4 houses and three of them are worth 100k and 1 house is worth 200k.
Rheis Cloutier
Financing through HELOC
26 September 2024 | 2 replies
I have seen a Heloc lower an investors scores due to excessive tradelines and due to the balance to credit limit percentage.
Aaron Sweat
ADA Units and Their Market Value
26 September 2024 | 17 replies
Currently, the CBC mandates a percentage of new dwelling units to be ADA compliant, but I wonder if these units are quickly filled or if there is excess in certain regions.
William Johnny
Pay off debt first or invest first
25 September 2024 | 17 replies
Here we go again.People love to play semantics with percentages as if debt is somehow OK as long as you keep it below X%.
Melanie Baldridge
Bonus Depreciation one of the best parts of RE Tax Code
23 September 2024 | 6 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.
Larry Nielsen
Section 8 or Traditional Rental?
25 September 2024 | 14 replies
Most S8 tenants have a history of bad decisions and from all that, many have only learned how to game the system.We embrace S8 applicants, but screen them just like any other applicant.Many have an entitlement mentality and try to leverage their S8 voucher and pretend to be helpless:1) A percentage won't apply because they expect a landlord to waive application fees for them.2) Many cry broke and expect a landlord NOT to charge them a security deposit.3) Many of those same S8 tenants trying to avoid paying a security deposit, won't make an effort to call the list of nonprofits we send them that will pay their security deposit if they apply.4) A lot of them try to avoid paying for utilities.
Joel Betances
Closing cost looks high
23 September 2024 | 7 replies
The lower dollar loans have a very high percentage in closing costs because the cost to underwrite a $500k loan is the same as a $75k loan unfortunately.