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26 September 2024 | 2 replies
I'm sure there may be plenty of other metrics we are not taking into account here and if so, please let us know what other critical items we should be looking at!
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27 September 2024 | 22 replies
Make sure the home has quality furniture and items that don’t fall apart in a few years.
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27 September 2024 | 9 replies
Hi Daniel, you can still expense the following items out in 2023: travel, meals (50%), gardening, and tax consultation.
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26 September 2024 | 17 replies
Anything that is already there you can highlight in your listing, but people who need these items generally don't move around a lot after paying to put them in wherever they are living.
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27 September 2024 | 12 replies
They will provide you with a list of items, do them.
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25 September 2024 | 7 replies
If there are items you need to replace and they are less than $2,500, you can take advantage of the de minimis safe harbor election, which allows you to deduct those costs in the current year rather than capitalizing them.
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26 September 2024 | 17 replies
Aside from the items that you already suggested, the only other thing you can use to verify the stated income is the seller's bank statements (not all sellers will release their bank statements, but some will).The expenses will vary a bit from owner to owner, so you're better off reaching out to a local property management company to get an understanding of how much things cost, unless you plan to self-manage the property.
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24 September 2024 | 2 replies
The lease already spells out the property owner's responsibilities regarding who is responsible for the repair of certain items like the fridge and AC.
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25 September 2024 | 4 replies
Through observing what many of these out of state or passive real estate investors (your most likely client base) prioritize in these forums two items that jump out are avoidance of major capex repairs and asset protection.
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24 September 2024 | 14 replies
Look at a harder type of removal… not sure what that would look like but I’m sure would require an attorney - but suspect I may have some options given I live on the property and I’m uncomfortable with house guests + other issuesI take ownership for some of this because I let a few items slip trying to be accommodating.