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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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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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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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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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21 November 2024 | 14 replies
He should be familiar with doing developments that you are looking to build and give you ballparks for each line item if not find one that is able to do that.
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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
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19 November 2024 | 23 replies
., flushing the wrong items).Also, make sure you do a walkthrough yourself prior to filling the unit.
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19 November 2024 | 26 replies
So far, we have received this advise from appraisers in the Maple Heights area: 1) Attach all offers so the next appraiser can better understand the market value, 2) Provide a letter from the Maple Heights Building Department discussing the addition of the egress window making the bedroom conforming livable space, 3) provide comps for similar properties sold in the Maple Heights area (these do not have egress windows), and 4) create an itemized list of improvements and cost for renovations to the property.We are grateful to the Bigger Pockets community for their advice as well.