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31 August 2024 | 8 replies
Here are some tips on doing comps when you do them:1. use the same bed count, go up or down a half bath2. start at a 1/2 mile radius from your target house (expand 1/2 mile each time to get more comps)3. start at 3 months back (expand 3 months more each time to get more comps)
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1 September 2024 | 6 replies
We had already been planning to do some maintenance and repairs (repave driveway, re-insulate attic, replace two broken faucets, other minor items), but were wondering if, for tax reasons, we are better off waiting until we close on the new home and this is no longer our primary.Can this work count toward tax deductions as preparatory work on rental property, even if it's currently our primary?
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6 September 2024 | 79 replies
Count on 6 months for a sale, divide profits two ways (make sure to include all costs and 20-30% more than your contractor quoted) and if it’s only a few thousand a month it probably wouldn’t be worth anyone’s time, right?
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30 August 2024 | 1 reply
if this was a rental property the gain on the property is whatever you sold it for minus your purchase price (broadly speaking)… there’re are various expenses you count against both your basis (purchase price) and against your gain from the sale.
1 September 2024 | 3 replies
My unit count is much less but the duration is around 50 years (combined my mom’s rentals and my rentals) without paying a tenant to leave or having to do an eviction.
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30 August 2024 | 6 replies
Then you take title to the new property counting both the purchase price and the improvements.I'll shoot a colleague request to you if you have follow up questions for off line.
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31 August 2024 | 22 replies
It's also not a good idea to count tenants or income that not yet exist.
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30 August 2024 | 3 replies
It is the only calculator of its kind to help you determine: if househacking is a better investment than a traditional home purchase, how long to hold onto the investment before selling, how long to live in the property, and which unit to occupy.If this will be a traditional rental property investment (not a househack), select ‘renter’ for all units under the Summary Tab’s ‘Property Information’ section.Metrics used for the deal analysis:The purchase price is based on the median sale price - $1,450,000 Unit bed/bath counts are based on the median 5 bed/3 bath counts for sold Astoria 2-family properties this year.Projected rents are $3,200 and $3,900 respectively as shown in our median rents for 2 bedroom and 3 bedroom apartments.Not included in the analysis is ADU income.
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30 August 2024 | 6 replies
Three are audits I dealing with right not that the IRS is saying hours before renting out do not count.
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29 August 2024 | 13 replies
I've only come across a couple 401k plans that allow you to carry the loan and continue making payments after you're no longer employed with that same employer.If you don't repay the loan, then it's counted as an early distribution.