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14 September 2024 | 23 replies
Materials won’t be that much a couple hundred maybe.
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20 September 2024 | 114 replies
If you're passing along cleaning fees to the guests, then they shouldn't have such a material impact on your profits.I'm speaking from experience a little bit.
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13 September 2024 | 8 replies
Her work in this way again is not influenced at all by if it is an LLC in her name, your name, or both - it is based on actual hours worked.IF and AFTER you meet the above tests, you need to prove that you materially participate in your RENTAL trades or businesses, generally this is at least 500 hours per year, but there are other tests as well.If you qualify for all of the above, now you can use tax losses from rental real estate to offset W-2 income.
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12 September 2024 | 9 replies
You need to get a quote from a local handyman or contractor.Not sure about every state, but in the states where I invest - If you do the work yourself you can only deduct the cost of materials.
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11 September 2024 | 12 replies
I’m a real estate pro so material participation isn’t an issue, but the majority of my clients are in the $300k-$900k/yr gross household income range and so using STRs is not only the best way to get great ROI on real estate nowadays but the tax benefits are the primary driver for most including myself.
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11 September 2024 | 18 replies
I had to replace the fences after a strong storm last year, which costed $4200 in materials and labor.
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10 September 2024 | 2 replies
Total cost materials only was approx 50k, that's 10+ years ago.
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10 September 2024 | 2 replies
I’m still figuring out where opportunities are / will be and consume a wide variety of materials.
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9 September 2024 | 7 replies
Also, who is disposing of materials?
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9 September 2024 | 5 replies
An approach you might want to take, is to break down each component of the rehab into its own price per sqft/linear foot/units for both materials and for labor.for example you might find that flooring costs and average of $3.50/sqft labor to install + $3.00/sqft for materials X square feet = cost to refloor+ always add an extra 10% for unforseensSo you would just need to do this for every part of the rehab based on what needs to be done and what level of finish you are going for.keep in mind that some things are measured by sqft, like floor, and others are measured by linear foot, like trim, and some are measured by total area, like drywall and paint, and yet others are measured per each like tubs and toilets.A good place to start with figuring costs is The Book On Estimating Rehab Costs by J.