
25 June 2024 | 6 replies
An offer that "meets that need" has a chance to be accepted as that is the goal for the money they already have in their head.

24 June 2024 | 2 replies
Seven offers, the second top offer of 2.855M was accepted by trustee (I have to accept) or relist for possibly more (3.15M?)

27 June 2024 | 14 replies
I've stayed in properties that offer a small selection of drinks or cheeses from local farms but have never seen it scaled to other aspects of the property.I'm wondering if any STR investors out there employ a similar arrangement?

26 June 2024 | 5 replies
So I may not be a good fit for what you're looking for if you want a local tax office location to walk in with your paperwork.

29 June 2024 | 13 replies
I just keep analyzing deals and making solid offers based on the numbers.

26 June 2024 | 15 replies
This can tell me a lot about the age of the plumbing, roof, HVAC, etc before actually walking it.
28 June 2024 | 10 replies
Converting your single-family home into a rental property involves several considerations to protect yourself and ensure smooth operations: Establish an LLC:Liability Protection: Holding the rental property in an LLC can protect your personal assets from potential lawsuits related to the property.Tax Benefits: An LLC can offer tax advantages, such as pass-through taxation, where rental income is taxed at your individual income tax rate.Insurance:Landlord Insurance: Ensures coverage for property damage, liability claims, and loss of rental income.Umbrella Policy: Provides additional liability coverage beyond your landlord insurance, offering extra protection.Deductions:Mortgage Interest and Property Taxes: Continue to deduct these expenses.Depreciation: Depreciate the cost of the property over 27.5 years, excluding the land value.Maintenance and Repairs: Deduct costs related to maintaining the property.Property Management Fees: Deduct fees paid to the property manager.Filing Taxes:Schedule E: Report rental income and expenses on Schedule E of your tax return.Separate Accounts: Maintain separate bank accounts for rental income and expenses to simplify bookkeeping.Lease Agreement:Solid Lease Terms: Ensure your lease agreement is thorough, covering rent amount, due date, late fees, maintenance responsibilities, and eviction terms.Legal Review: Have the lease agreement reviewed by a real estate attorney to ensure compliance with local laws.Tenant Screening:Background Checks: Perform credit, criminal, and eviction history checks on prospective tenants.References: Contact previous landlords and employers for references.Property Management:Regular Inspections: Schedule regular property inspections to ensure it's being maintained properly.Maintenance Fund: Set aside a reserve fund for unexpected repairs and maintenance.Moving Out of State:Communication: Maintain open communication with your property manager.

27 June 2024 | 6 replies
During Covid it was very hard to use with all the multiple offer situation but it's been better for people in the market I live in.

25 June 2024 | 2 replies
This has contributed to lower inventory as sellers are hesitant to walk away from their historically mortgage costs, but the start of the pandemic era rates is now four years ago (2020) and life events often eventually force property sales.