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8 November 2024 | 4 replies
Your attorney should be able to help with this as they will likely want to get an itemized list of projected past expenses.3.
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8 November 2024 | 4 replies
What construction items should I be in the lookout for due to hurricanes?
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2 November 2024 | 22 replies
Then you would capture all the future income and equity without having to share it.
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11 November 2024 | 12 replies
This is bogus if buyer and seller are independent parties (if the parties are associated then I understand setting true value) as there is usually a reason for the discount purchase (risk items like unpermitted work, crazy low rents in rent controlled area, hoarder, heavy need of rehab, etc).
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8 November 2024 | 4 replies
Laws are ALWAYS evolving and every couple years there is likely one or more items that should be updated in a lease. 3.
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6 November 2024 | 0 replies
& different parts of the asset can be depreciated on different schedules.To find out the useful lifespan of each component, you do a cost segregation study to analyze all of the parts.The raw land can't be depreciated so you start by giving that a value first.But other items can be depreciated on a quicker timeline.A roof, road, sidewalk, fencing, walls, gates, doors, latches, flooring, air conditioners, pavers, curbing, landscaping, etc.The IRS has a depreciation schedule for each type.Some parts are 5 yrs.
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7 November 2024 | 8 replies
Therefore, you could say something like "taxes aren't based on your cash flow," but if I were making such as statement, it would be more like "taxes aren't DIRECTLY based on your cash flow" because that better captures the spirit.You have multiple sets of numbers: 1) [actual] cash flow, 2) net income, and since you mentioned running numbers 3) pro forma numbers (i.e., projected/estimated cash flow).
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7 November 2024 | 15 replies
Food in fridge is from April this year and it basically looks like someone was half way through moving out and then something happened and so a bunch of stuff is still in house. specifically one room filled with about 10 burner phones, 3 tvs, personal clothes, mail, kids personal items and bunch of random stuff new with tags, etc etc. he also had pets which was against lease term. one of the rooms was used as a pet room completely destroying carpet and staining walls with urine etc.
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9 November 2024 | 5 replies
I think this would make sense in the long run for the rental property as it will extend the life of everything it touches like the Sink, faucets, showers, water heater, dishwasher, and Clothes washer while also providing clean drinking water in addition to the reverse osmosis drinking water system I already have installed.The main problem with this hardness level is that we get a major deposit buildup on all of these items, which will eventually clog up the faucets for tenants and lead to rusty shower enclosures that take forever to clean.In addition to this, it looks like we could likely have the salt added every couple of months by the property managers in addition to that it would allow for a quick inspection from them, and then also we would instead bill the cost of the service onto the ledger for the tenants.For reference, it does not look like the landlords in the area have water softeners.Thank you everyone for your input ahead of time.
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6 November 2024 | 12 replies
Nathan mentioned using a syndication site to push your listing to multiple sites at one time which is also something that I recommend in order to expose your property to as many sites as possible.Some things to consider to maximize the efficiency and giving a perspective resident a great experience from the beginning to having a scheduling link available in your description for specific days and times that you can show the property so that you can capture your leads wanting to tour the property without them having to wait for a response from you and scheduling a one off time.I would recommend investigating in having professional photography taken if you are leasing in a market that has a lot of competition since your photos will have your property stand out and drive traffic.Good luck!