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12 February 2025 | 4 replies
Just keep in mind that there are further steps you'll want to keep to minimize the possibility that your entity is ignored for this kind of personal liability (say, if you were the person who didn't properly clear snow, or if your finances and the LLC's are comingled).And I agree with @Chris Seveney, insurance may provide adequate protection based on what's available to you.
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16 February 2025 | 71 replies
If the company you are using is not YOUR company, you can share links in the group.
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21 February 2025 | 2 replies
I will actually be up in NYC in April so we could also connect in person before you come down.
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14 February 2025 | 5 replies
This strategy has worked well for me personally.
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24 February 2025 | 3 replies
I have purchased many homes in the past as personal residences and always with the help of an agent.
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7 February 2025 | 7 replies
Meaning they went into a standalone bank account (not mixed with your other personal funds).
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6 February 2025 | 5 replies
Recapture typically happens only when you sell the property.If you use the property partly for personal use and partly as a rental in a given year, depreciation and other expenses must be prorated based on the number of days it was rented versus personal useBased on the current tax laws and regulations, once you've taken bonus depreciation on an asset, you cannot "capture" additional bonus depreciation on that same asset in future years, even if the rates increase.In the 2024 tax year, the rate for bonus depreciation is 60%.
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12 February 2025 | 3 replies
I would be very interested in the person’s contact information that does Pad split in this geographical area. :)
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25 February 2025 | 13 replies
So, you know, fundamentally change my outlook and approach to life...I'll let you know when that happens.Our mid term rentals have been better for personal use.
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18 February 2025 | 17 replies
I have purchased 3 STRs personally in the last 18 months and have closed on at least 25 for clients in the past 12 months.