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17 November 2024 | 7 replies
well 70% of 455ks isnt much more than you currently owe at 283k the 70% of 455k is 318.5k and after closing items you might only net 20-30k tops (new loan minus current 283k - closing items = net proceeds in "hand.").So The question you should be thinking about is what are my closing items and is this enough cash to accomplish my mission/goal?
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20 November 2024 | 6 replies
My AC unit has another 3-5 years before it’ll need to be replaced so I’m thinking this may be a clean exit before large big ticket items start needing attention in the next 5 years.
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21 November 2024 | 10 replies
Self Sufficiency test is the important item for 3-4 unit FHA homes.
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12 November 2024 | 6 replies
We have LVP in some kitchen/bath areas and it is holding up well, but if you have a choice tile.The only caveat I can think of is aesthetically having all one floor is more pleasing than many room transitions.
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18 November 2024 | 12 replies
Set Aside for Major Repairs: Most Cap Ex items have a life expectancy.
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18 November 2024 | 2 replies
Since reserve studies attempt to forecast replacement costs of items over a 30 year period they are having to recalibrate since the reserves they are now using did not use the latest increase in construction costs.
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18 November 2024 | 13 replies
If they have not done those two items, there should be no reason why the courts will holdup the eviction.
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1 December 2024 | 91 replies
Tech for most part is just a deployment item not innovation, utilizing tech to automate and do, more efficiently, what was done in antiquated manners.
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17 November 2024 | 7 replies
A cost segregation study looks at the overall building that you purchased and breaks it down as much as possible.The purpose of this is to increase the depreciation expense.Without a cost segregation study, you are depreciating the property over two items(Building and Land).However, a cost segregation study might identify items such as fencing which might be eligible to be depreciated over 15 years instead of 27.5 years.Depending on the year that the building was placed into service, you might be able to take bonus depreciation on certain items.The follow-up question to ask your CPA is will the cost segregation study help me, and by how much?
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15 November 2024 | 5 replies
Rent a storage unit in a nearby town, ship all items to storage unit, pay someone to then use the items to furnish the home or make a weekend trip