Melanie Baldridge
If you want to be a real estate pro, you need to understand the TERMS:
9 October 2024 | 1 reply
It allows a substantial portion of the asset's cost to be deducted in the first year of service.In 2023, the bonus depreciation rate is 80%.In 2024, it decreases to 60%.In 2025, the rate further reduces to 40%.COST SEGREGATION:Cost segregation involves dividing a property into its individual components for tax purposes.Some parts age faster, like carpets or paint.Your CPA can use this info to more accurately depreciate elements of your property leading to potential tax savings.BASIS:Your basis is the initial price that you paid for your property, including any expenses or improvements.Knowing your basis is crucial for tax purposes, as it's used to evaluate depreciation & determine the capital gains or losses if/when your property sells.LAND VALUE:This is how much your land is worth without any buildings or improvements.Land doesn't get old like buildings, so you can't depreciate it.
Peyton Culberson
Managing Your First Rental
11 October 2024 | 13 replies
If the software is not simplifying your life or making you more accurate, you shouldn't use it.
Alex Todd
REPS status scenario + underwriting paper losses
9 October 2024 | 9 replies
All hypotheticals but is this accurate?
Alexander Phillips
1st time buyer, cold feet after mess + closing cost increase of 3%, can I back out?
10 October 2024 | 19 replies
You won’t obtain accurate information about your contractural obligations fromReal estate brokerSellerMentorBP forum members who haven’t even seen the subject purchase contractSo, where to you find an UNBIASED, ACCURATE, EXPERIENCED opinion of where you stand?
Kevin Lin
rental property calculators generate different assessment results - very confusing
8 October 2024 | 3 replies
If you are an expert in using rental property calculators and can help me discern which one might be the most accurate, please let me know.
Mitchell Hein
New AC unit
10 October 2024 | 25 replies
And the key here being that I don’t know how and wouldn’t be able to do it myself, so whatever it costs is what I have to pay 😂 like any field, you have to pay an expert to do it right, AC installation in Texas definitely not an exception to that rule.We have put in 9 AC systems into rental houses (rehabs) the last 6 years and your quotes are pretty accurate for central Texas.
Naveen kumar Vadlamudi
Office Building in Small Town - Analysis Feedback
7 October 2024 | 3 replies
Building : 1878 /2008 Renovated.Price : $600000 Asking Total Tenants: 15 & Monthly Rent : $21173Deal Analysis Value Over Time Can you please let me know what else is missing in this to get more accurate deal analysis.
Vishal Chandan
Recommendation for a property manager in Florence, AL
7 October 2024 | 2 replies
@Vishal ChandanRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.
Mark M.
Ratio Utility Billing System (RUBS)
13 October 2024 | 54 replies
In fact, the more people you are dividing the bill across, the less RUBS gives you an accurate number for each person.A 100+ unit building without meters is the territory of a slumlord.
Andre Brock
Good questions to ask out of state property mannagers?
9 October 2024 | 11 replies
@Andre BrockRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.