Lutfiya Mosley
The Multifamily Mindset program. Biggest regret of so many people. Is it a scam?
24 January 2025 | 35 replies
It has cost many people including myself a lot of unnecessary money and still is because you deal with the tax portion of opening unnecessary LLCs recommended by supposed professionals.
Ryan S.
Advice on Specific Performance for Breach of Real Estate Contract
26 January 2025 | 43 replies
Does the contract include a monetary damages provision?
Sam M.
Agent commission and making an offer
23 January 2025 | 4 replies
Do most of them imply the agent commission is included?
Carlos Silva
Velocity Banking for paying off mortgages
13 January 2025 | 19 replies
I will give you my numbers since we are 3 years into Velocity Banking.Home was purchased at $410k.Interest rate: 3.125%30 year termMortgage payment is around $1950 (includes insurance and property tax)HELOC: 8.25% Variable rate - current rateCredit Limit: $97kLet's say I made $10k a month and our expenses were $6k each month including the mortgage.
Melanie Baldridge
What is MACRS classification?
10 January 2025 | 0 replies
When it comes to real estate, here's a general list of eligible assets and their depreciable lifespans that you should know: Residential Rental Property = 27.5 yearsThis includes any building or structure where 80% or more of its gross rental income is from residential units.That means:- Apartment buildings- Single-family rental homes- Duplexes, triplexes, and quadplexes- Mobile homes (used for residential rental)- Any kind of residential lodging facility where the primary purpose is long-term rentalCommercial Property = 39 yearsThis includes non-residential properties like:-Office buildings-Retail stores and shopping centers-Warehouses-Industrial complexes-Hotels and motels that do not qualify as residential rental propertyLand Improvements = 15 yearsThese include sidewalks, roads, fencing, some landscaping, and parking lots that are separate from the building.Personal Property = 5 or 7 yearsPersonal property used in a rental activity usually has a 5 or 7-year life.This includes most furniture, appliances, carpeting and various machinery.Qualified Improvement Property (QIP) = 15 yearsGenerally, this includes any improvements made to the interior of a non-residential building after the building was placed in service, excluding elevators, enlargements, and the internal structural framework.Computers and Related Peripheral Equipment = 5 yearsVehicles = 5 yearsNote that the land itself is not depreciable.
Charles Masten
Expanding to Columbus, Ohio - Looking to Connect!
22 January 2025 | 6 replies
These included cash buys for flips, seller financing, and subject-to deals.
Noah Bacon
BiggerPockets Pro Partner Update - Stessa!
15 January 2025 | 49 replies
If we upgrade to PB Pro, does that include a Stessa Pro membership?
Andreas Mueller
Insurance is on Fire
25 January 2025 | 0 replies
So when you sell, pack up and leave to restart your life with your family, you will have a loss of $1.5 million, not including many thousands in fees.
Venka Pulla
How to deal with Bad property manager
11 January 2025 | 7 replies
The notice should include the date of termination and the reason for ending the agreement.
Jason Edwards
First Flip Insights: 1272 Lakins Rd, Etna
20 January 2025 | 1 reply
To add value to the property, we undertook extensive renovations including the removal of over 40 yards of trash, installation of a new septic system and wall-hung boiler, and a new well pump.