Hello Justin,  I want to start with multi-family buildings with 5-9 units max.

Would love to connect and share insights on building a hands-off, cash-flowing portfolio!

Imagine making millions of dollars over the course of your career and then having to pay 30-50% every year to uncle sam instead of compounding that cash over time.This is exactly what real estate professionals have learned to mitigate.To reduce their taxable income, they just buy a building every year, do a cost seg, and use depreciation to reduce their tax liability dramatically.Their personal wealth snowball grows much larger and much faster than their W2 counterparts who give most of their money back to the government each year.Following this strategy as a real estate professional is one of best ways to end up with a much larger net worth at the end of your career.

Those special assessments will not be enough, and the reality is the association will likely be taking debt to approach these projects (eg. paving the parking lot, residing a building) and that financial burden would be on the owners and the association. 

Being based in Austin, you’re in one of the most dynamic markets out there, which gives you a fantastic foundation to build on!

I find that amusing as I was told I was buying the last “two” buildings and I better hurry or they would be gone.

@Mike Levene cost to build per square foot is $200-$300 depending on finishes.So, you can start with that.

Investment Info:Office Space commercial investment.Purchase price: $1,100,000Cash invested: $25,00014,000 SF Downtown multi-tenant office building

I work with many out-of-state investors to help them build and diversify their portfolios.

Additionally, the study must be completed by “qualified individuals” and “professional firms” that are competent in construction, design, auditing and estimation procedures for building construction.So while a specific methodology isn’t required by the IRS, taxpayers must ensure that their depreciation deductions and classifications of property are substantiated with supporting evidence.