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13 November 2024 | 10 replies
While the IRS does not mandate a physical site visit, the IRS cost segregation audit technique guide (ATG) does suggest conducting “field inspections.”It’s important to note that the ATG is not an official IRS document.It serves as a guide and cannot be used, cited, or relied upon as an authoritative source.However, the recommendations in the ATG are worth considering.According to the guide: “A field inspection is recommended to document the physical details of the building, type of construction, materials used for construction, the assets contained in the building, the size and types of building systems, and any land improvements that were included in the purchase of the property and the condition of that property at the time of purchase.”So while the IRS does not require a site visit for cost segregation studies, following the guidance from the cost segregation audit technique guide can be beneficial.
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20 November 2024 | 23 replies
Real estate is still a people business, and if you don't like dealing with people it's a very hard investment field.
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18 November 2024 | 12 replies
Alternatively, construction is a great field to get into.
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14 November 2024 | 2 replies
I, too, shifted from working with adolescents and young adults to getting into Real Estate... in hindsight, that past experience has helped me in this field, and I believe it will help you as well.2 things I recommend for new BP members in your position:- Use the search feature to find people and topics of interest.
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28 November 2024 | 184 replies
I hope you’ll enjoy it and share it with friends and victims of this scammer if you know any.
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19 November 2024 | 23 replies
Marketing and Advertising: A property manager has the resources and knowledge to effectively market and advertise rental properties, attracting prospective tenants and reducing vacancy periods.In summary, hiring a property manager can streamline operations, enhance profitability, and provide peace of mind for you, allowing you to enjoy your investments rather than being bogged down by day-to-day management tasks.A property manager will give you more time to expand your investment portfolio.
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18 November 2024 | 15 replies
There is a GREAT post regarding that here. https://www.biggerpockets.com/forums/51/topics/1215989-expla...At the end of the day the EA and CPA are interchangeable in the tax field, the most important thing is they understand real estate and it's tax implications.
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15 November 2024 | 4 replies
I'm particularly passionate about wholesaling and/or fix and flips, and commercial properties like RV parks.Outside of real estate, I enjoy watching sports, learning and hanging out with family and friends.Excited to learn and connect with you all!
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15 November 2024 | 8 replies
Do you have a nice amount saved up for the activities you enjoy(I assume yes given a 30+ year in Tech plus you mentioning making lots of money already in real estate).If that is the case, what are you looking to achieve now within real estate?