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5 October 2024 | 1 reply
@Saurabh Kukreja we don't recommend investing via zip codes - too broad of an area.We've mapped out all of Metro Detroit and categorized Cities & Neighborhoods by Class A, B, C, & D.We take assisting investors very seriously, just read below:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?
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14 October 2024 | 420 replies
IF anyone has the link for that training and the discount code, let me know please.
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21 October 2024 | 176 replies
I will say the cheapest suburbs I mentioned have an average selling price of 200k--depending on the specific zip code, it might be as high as 400k (I don't know off the top of my head).
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8 October 2024 | 12 replies
. - Accounting, not mentioned, but make sure you can confidently run the trust accounting and security deposit which is compliant with state code. - VAs, I don't think this is necessary for 30 doors, but depends on how much availability you have and how time consuming these properties will be.
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6 October 2024 | 36 replies
.- Inspectors: definitely make sure everything is to code.
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4 October 2024 | 13 replies
Do you mind sending me some zip codes in Chicago for A neighborhoods?
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4 October 2024 | 2 replies
Many times these citations will align with the municipal codes, but sometimes they do not.
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4 October 2024 | 5 replies
The current tax code provides special benefits in this situation.When the original owner passes away, the "basis" of the assets resets to the market value at the date of death.In the US, there is currently an estate tax exemption of approximately $13 million per person, which allows the basis to reset, and depreciation can start anew.This “step-up in basis” is particularly useful if the next generation wants to sell the asset.Since their basis is set at market value, if the property is sold at that value either at the date of death or within six months, there is no capital gain and no taxable event.There have been many examples where portfolios of fully depreciated real estate worth tens of millions of dollars have been passed down from one generation to the next, resulting in little to no tax liabilities for their heirs.Pretty cool, right?
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5 October 2024 | 5 replies
You clearly don't know what your doing and should NOT, by the rules and codes of NAR, be a primary listing agent on anything right now.
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4 October 2024 | 8 replies
. - The main question here is do you qualify as a real estate professional according to the tax code.