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26 November 2024 | 86 replies
When the first deal failed I turned to BP to get answers to questions I had that were not being answered by DFO and share my experience with other LPs.Within a few days I received an email DFO stating:"I will be sending you a legal letter in the mail and email tomorrow regarding your false and misleading internet comments."
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15 November 2024 | 3 replies
Just wondering if there are good internet guides out there to help new investors understand steps in renovations and lay out scopes of work and materials needed so we don't miss anything?
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19 November 2024 | 0 replies
To qualify, taxpayers must meet specific criteria demonstrating that they are real estate professionals who materially participate in their rental activities.How to Navigate the Rules:Step 1: Identify your real property trades or businessesHere is a list of activities that are considered to be a real property trade or business:RedevelopmentLeasingConversionConstructionReal property developmentReconstructionOperationRentalBrokerageManagementAcquisitionIf you participate in multiple of these activities, you may be able to combine them making it easier to meet the material participation hour requirements.Step 2: Demonstrate material participation in real property trades or businessesThere are seven tests to determine if you demonstrate material participation.
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21 November 2024 | 3 replies
While I am just a stranger on the internet.
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22 November 2024 | 12 replies
Just keep thorough records of your expenses—materials, labor, permits, etc.
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18 November 2024 | 47 replies
Curious to hear the system you'd recommend for tracking material participation?
21 November 2024 | 24 replies
I looked at one lot U could build on it but there is only a 5 foot path to haul material in.. :) and they want 300k for it..
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25 November 2024 | 23 replies
You want to delegate all the mundane tasks to others and focus on doing tasks that only you can do.While you are calculating the costs of all the raw materials, you also have to calculate your salary into the total cost of writing your own handwritten letters.
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19 November 2024 | 24 replies
This can easily be obtained by spending it on materials you will be buying regardless.
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18 November 2024 | 1 reply
We want a camera system that:1) Connects to internet for remote monitoring via an office computer (not just a mobile device)2) Has motion-sensor alerts3) Records to the cloud, so a thief can't disable/steal the camera to hide their identityWe plan to remove these cameras once a property is rented and reinstall at the next vacant rental.Wi-Fi connection to internet is possible, but we'd also like to look into cellular connections to internet.What suggestions do you have please?