
8 May 2024 | 1 reply
I may never buy a building with iron pipes again Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

8 May 2024 | 3 replies
I am looking to expand as an investor outside of my market as well as building relationships with professionals within my market.

8 May 2024 | 8 replies
Alot of factors to consider in terms of rates but Id say par for the course in the conventional space high 6's

9 May 2024 | 13 replies
I am an alum, so I am of course biased, BUT it is a big driver there.

8 May 2024 | 4 replies
Alternatively, you can use the fair market value of the home at the time of conversion"Keep in mind, you will probably want to talk to a tax professional to go over all the consequences.

8 May 2024 | 0 replies
Furthermore, understanding the resident characteristics allows me to measure the target market and modify my investment strategy accordingly.Inspection ChecklistSituations vary from one property to the next, but here is an on-site inspection checklist to get you started:Interior Units:Inspect vacant units, including one of each finish out type (Classic, Reno, etc.).Check all down units.Inspect one unit from each unit mix.Exteriors:Landscape:Look for overgrown bushes.Identify trees that need trimming (no branches hanging over the roof).Take pictures of the following:Curb appeal on all sides facing the street.Landscape around the office and amenities.Overgrown bushes or trees.Any dead landscape.Areas that may need sod or mulch.Assess drainage:Ensure water flows away from building foundations.Check slope, gutters, downspouts, surface drains, French drains, etc.Exterior Walls:Determine the existing material (wood, vinyl, Hardie, brick, stone).Assess the condition of the walls.Note if painting is required.Take pictures of each building, including building number, each elevation (clockwise), and any breezeways or niches.Windows:Evaluate the condition of existing windows.Consider whether solar screens should be installed.Roof:Identify the type of roof.Assess its condition and age.Parking Lot:Check for potholes.Assess the need for restriping.Note whether the parking lot is concrete or asphalt.Evaluate drainage issues.Walkway:Look for tripping hazards.Assess drainage issues.Foundation/Gutters:Inspect for cracks in the brick.Check for separation in corners from fascia and trim boards.Evaluate drainage and identify poor drainage areas.Amenities:Identify possible improvements.Consider adjustments or additions that can enhance amenities.Talk to the Staff:Maintenance: Inquire about the physical condition.Office: Discuss current residents, delinquency, and potential changes to add value.Assess whether rents are too high or too low.Confirm rents and what is included/not included.Confirm other sources of income and associated charges.Confirm occupancy, pre-release, and vacancy numbers.Note: Maintain professionalism and avoid insulting the owner or broker, regardless of the property's condition.Keep in mind that investing in real estate is like solving a puzzle—you need all the pieces to see the big picture.

8 May 2024 | 3 replies
If there are tax benefits, that certainly helps and can add to the wealth building by freeing up more cash for more income-producing stuff.My opinion, of course, but I try to encourage my investors to be wealth-forward rather than tax-forward.

8 May 2024 | 8 replies
Income Digs has a great course on how to do your own bookkeeping in QBO and there's a lesson on how to use the business and class fields for investors that have many LLCs.

8 May 2024 | 5 replies
Code § 7701 - Definitions, my understanding is that the answer is NO, but maybe I am wrong.As the actual rate of withholding is 15% of the sales price, and as the refund (if any) would be "within 90 days", it can be a major setback for my company´s flipping cash-flow because 15% is way higher than the taxable income (and of course than the tax itself), so we would be in the necessity of capital injections to flip the next properties.If any of you have comments on this, it would be very helpful.Thanks in advance

7 May 2024 | 19 replies
Of course, we have a NNN lease that places most of the repair/maintenance responsibilities on the tenant.