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26 December 2024 | 13 replies
As others have stated, your fit & finish goals should be guided by whether you plan to:1) Rent: tenants don't always take care of a property, so you want to use lower-grade materials and workmanship.2) Flip: higher quality on workmanship and materials is usually required.Regardless, you always want to "Maintain to the Neighborhood".
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24 December 2024 | 6 replies
Unlike investments in stocks and mutual funds, crypto investments allow loss harvesting without the 30-day "wash sale" rules.
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26 December 2024 | 7 replies
Current Financial Snapshot:• Savings: A solid mid-seven-figure amount currently invested in the stock market.• Primary residence: A 2-bed, 2.5-bath townhouse purchased in 2020 with a 2.75% interest rate.
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4 January 2025 | 26 replies
STR's, if done right, are viable long term investments meant to cash flow at a reasonable enough level to properly maintain and improve them.
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31 December 2024 | 49 replies
I have had thoughts and considerations of doing such a thing for some time but wondered would it be something worth doing, as in people would use it, find value in it, enough to offset the time and investment of self into creating and maintaining it.
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22 December 2024 | 4 replies
Quote from @Levi Perl: The purpose of background screening is to determine a level of risk, and then you decide if you can mitigate that risk.How does a DUI conviction from three years ago impact the tenant's ability to pay rent or maintain the property?
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20 December 2024 | 28 replies
If it’s in an LLCs name it s protected if maintained correctly.
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20 December 2024 | 0 replies
There are several different types of income in the US tax code.Two main types are “active income” and “passive income".Active income is money you earn from working, such as wages from a W-2 job or income from running a business.Passive income is money you earn from investments like real estate, stocks, or rental income from your RE portfolio where you earn $ without actively working.Normally, you can't use passive losses (like losses from real estate investments) to offset active income like your salary from a W-2 job.That is unless you are an RE Pro.The reality is, that Real Estate Pro status is just a filing status similar to filing married or jointly.And if you are a real estate professional you CAN use passive real estate losses to offset active income from other sources.To qualify as an RE Pro you must:1.
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25 December 2024 | 11 replies
If one or more units are vacant, the remaining units often don’t provide enough cash flow to cover expenses, making it harder to meet operating costs.Maintenance costs: A fourplex comes with four times the appliances, plumbing, HVAC systems, and other components to maintain, leading to significantly higher repair and maintenance expenses than single-family homes.If you want to see the detailed calculation, read this BP blog - More Units Doesn’t Mean More Money—Why a Single-Family Home Can Beat a Fourplex.Resale value: Multi-family properties have a limited buyer pool—mainly investors—who base their offers on CAP rates.
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20 December 2024 | 3 replies
Don’t forget to plan for the future, maintain a healthy work-life balance, and celebrate small wins along the way—it’s all part of the journey!