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16 December 2024 | 7 replies
It will be included in the purchase price 95% of the time.
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16 December 2024 | 0 replies
I depreciated the RV under our primary LLC last year.
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19 November 2024 | 26 replies
So far, we have received this advise from appraisers in the Maple Heights area: 1) Attach all offers so the next appraiser can better understand the market value, 2) Provide a letter from the Maple Heights Building Department discussing the addition of the egress window making the bedroom conforming livable space, 3) provide comps for similar properties sold in the Maple Heights area (these do not have egress windows), and 4) create an itemized list of improvements and cost for renovations to the property.We are grateful to the Bigger Pockets community for their advice as well.
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16 December 2024 | 8 replies
Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)
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16 November 2024 | 21 replies
Quote from @Sean O'Keefe: Click the arrow in front of “Quote” and you’ll see the comment / post that was responded to.
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20 November 2024 | 12 replies
Prepare the listing on your end for when the evolve finishes.
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20 November 2024 | 11 replies
Incorporating a value add strategy to your house hack has the potential to move you quickly from one property to the next.
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21 November 2024 | 2 replies
You are required to file a complete and accurate return, which means reporting the income that you earned along with atleast the direct expenses that you incurred on your rental.There are two comflicting forces - Your tax accountant wants to be aggressive with deductions because it will entitle you to paying less taxes(now or in the future).Your lender wants to see as much income as that will increase your Debt to Income Ratio(DTI).The good thing is that you can speak with your lender about 'one time expenses', that were only incurred in that year and are not reoccuring.
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16 December 2024 | 3 replies
The general rule of thumb on refinances is to do it if you can make back the transaction costs within 2 years.
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16 December 2024 | 4 replies
Non-payment of rent is always the path of least resistance to get someone out in a somewhat timely manner.