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17 September 2024 | 20 replies
In the past I have used a property manager but thinking of doing this myself.I was wondering if any other small landlords do anything to hide their real name and/or real address/phone number from tenants during the screening and leasing process.
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24 September 2024 | 0 replies
High efficiency appliances were utilized including HVAC, light fixtures and water heater.The use of the accelerated depreciation strategy helps real estate investors to reduce the tax liability immediately which therefore increases their bottom line due to the offsetting of income.
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23 September 2024 | 3 replies
This isn’t the end goal for me but just the beginning as I get my feet wet in the real estate world.
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18 September 2024 | 6 replies
People who know love and trust you.
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24 September 2024 | 22 replies
My title company has told me that it is impossible to do a simultaneous closing using only the end-buyers’ money to fund the transaction on a wholesale deal as they say it is considered a “dry closing” and is illegal in the state of Virginia.Someone from the title company also told me that there is a limit on the number of assignment deals that you can do before you are forced to get a real estate license or it is considered brokering without a license.
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24 September 2024 | 19 replies
The Real Estate Market in the "Hole" was struggling and having a hard time keeping up2.
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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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24 September 2024 | 1 reply
That has to have been the worse decision in real estate I’ve ever made But I also vividly remember thinking email was stupid when I was being shown how it worked.
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18 September 2024 | 6 replies
Hello, looking for tips on LLC formation for real estate investors.
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23 September 2024 | 2 replies
You leran it by going out and looking at real properties.