Cody Weiss
Blockchain & Real Estate
15 November 2024 | 25 replies
It's feasible for you to use an existing platform, most likely ethereum, and build your own variant of coin with specific conditions for smart contracts.
Melanie Baldridge
"Does the IRS require site visits for cost segregation studies?"
13 November 2024 | 10 replies
While the IRS does not mandate a physical site visit, the IRS cost segregation audit technique guide (ATG) does suggest conducting “field inspections.”It’s important to note that the ATG is not an official IRS document.It serves as a guide and cannot be used, cited, or relied upon as an authoritative source.However, the recommendations in the ATG are worth considering.According to the guide: “A field inspection is recommended to document the physical details of the building, type of construction, materials used for construction, the assets contained in the building, the size and types of building systems, and any land improvements that were included in the purchase of the property and the condition of that property at the time of purchase.”So while the IRS does not require a site visit for cost segregation studies, following the guidance from the cost segregation audit technique guide can be beneficial.
Amanda Skipper
First time out of state investor
23 November 2024 | 38 replies
The reason we do that is because people are on love with their spreadsheet, but need a reality check to see, feel and smell what a lower prices property looks like - in particular the condition.
Orlando Kell
What is proper order of rehab work?
11 November 2024 | 36 replies
:) Its generally a good idea to know the condition of a property or level of expected repairs so you can anticipate those repairs and build them into your bid for the property.
Philip Jones
Refi LENDERS in BRRRR
18 November 2024 | 16 replies
@Philip Jones we've helped our clients do over a hundred.As some of the lenders posting have pointed out, the challenges are:1) Property value and corresponding loan size2) Appraisals have much better comparables than 5 years ago, but may still be an issue.3) Property condition can be an issue via the appraisal4) Ownership seasoning - most lenders looking for 6+ months or incredible documentation for cost of improvements made.5) Most DSR lenders require professional property management.Always try a small local bank or credit union, but most will expect you to transfer your business bank accounts over to them.
Wang Windy
Should I replace or repair the roofs after the hurricanes
13 November 2024 | 1 reply
Has a ten-year-old roof 3-tab, but the condition is more deteriorated compared to its relatively young age.
Michael Daley
Looking for second investment property in San Diego mid-term/house hack/short-term
18 November 2024 | 14 replies
The other is in good condition but needs updating.
Rob Bergeron
DSCR loans are cheaper than a traditional 30 year fixed right now.
14 November 2024 | 11 replies
and of course a lot of DSCR loans are quote with a 5 year pre-payment penalty which of course can be VERY expensive if you have a 5 year flat 5% PPP and either rates drop or market conditions are such that you would like to sell the property. 5% of 300k for example would be 15k.
Kevin Lorick
My property manager deposits rent into his account before paying me, is this normal?
15 November 2024 | 13 replies
I would review your PM agreement you signed to see all the terms and conditions you agreed to and how the money flows and if you are required to have an account with them with a min dollar amount for emergency repairs (usually $500-1000).
Brian Quo
How bad is it to start off not cash flowing on 1st rental that is new construction?
20 November 2024 | 37 replies
If you currently have a high cash flow income stream in place that allows you to weather the negative cash flow storm from your rental(s) with the intent of holding the property(ies) for appreciation, then it may make sense for you.