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23 September 2024 | 29 replies
Time to go on a podcast and tell your story.Haha, yeah, I'm trying to work on improving my social media presence.
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24 September 2024 | 16 replies
Network and social media neighborhood pages.
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23 September 2024 | 6 replies
Bonus depreciation is just a special part of the US tax code.It allows you to take accelerated depreciation on portions of your property depending on when an asset is put into service.At the time of this writing, you can write off a huge portion (60% in 2024) of many qualified components that have a useful lifespan of 15 years or less.That means a certain percentage of things like landscaping, sidewalks, latches, appliances, fences, certain flooring, etc is depreciable in year 1.The bonus depreciation rate percentage changes yearly depending on the administration and the tax code.For years 2015 through 2017 first-year depreciation for all the items on a 15-year schedule or less was set to 50%.It was scheduled to go down to 40% in 2018 and 30% in 2019 and then 0% in 2020.But then Trump got elected, and he enacted the Tax Cuts and Jobs Act.That moved the bonus depreciation percentage to 100% from 2017 to 2022.In 2023 it went down to 80% and it’s currently at 60%.Depending on who gets elected again, 100% may be back on the table.Only time will tell.We know that the US government wants to incentivize more development and ownership of RE.They want Americans to continue to build and maintain our physical world.That’s why real estate is one of the most tax-advantaged assets in the US.Depreciation and bonus depreciation for RE are very positive and will likely continue in the years ahead.
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23 September 2024 | 1 reply
@Mateusz SkibaRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.
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23 September 2024 | 3 replies
Most people that have limited experience go the thought leadership route.Start learning everything you can about real estate investing and then regurgitate it by writing blogs, starting or being featured on podcasts, blab about it on YouTube and social media.
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23 September 2024 | 8 replies
You might also consider using cost segregation to accelerate depreciation on certain components of the property, especially given the significant rehab costs.
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25 September 2024 | 22 replies
Become a syndication Co- GP by either putting up the escrow funds or by raising money for the true GP where you receive 1% of the GP share of project upside, then create website and social media marketing materials where you hold yourself out as THE GP for the syndication. 5.
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23 September 2024 | 4 replies
@Cathy LiRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.
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23 September 2024 | 4 replies
Also make sure all your friends & social media contacts know you’re in real estate as people who already know, like & trust you are the best sources of business.
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27 September 2024 | 66 replies
Now all of a sudden you have these new cabin units and you can significantly reduce your tax bill at least in the near term by splitting out the components.