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10 May 2024 | 7 replies
Plenty of appraisers have little to no experience in STRs as this asset class (if one wants to even call it that) is relatively new in the REI space, and thus, the method suggested above is probably not that likely to succeed.
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10 May 2024 | 15 replies
In general, rental related real estate, is considered a passive activity.That means, that passive losses, are not eligible to offset income such as wages, interest, dividends,etc.However, I would still argue that real estate is great from a tax perseptive, making $270,000 you are likely in the 30%+ tax bracket when you factor in Federal and state taxes.Rental income, which is normally shielded by depreciation, will not be subject to the 30% tax as would interest and dividends.Best of luck.
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9 May 2024 | 11 replies
Usually investors here will agree to let you represent them to double end the property (purchasing the fixer > flipping the fixer) it makes sense and I believe it adds to the longevity of the business relation IMO.
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10 May 2024 | 8 replies
I don't mean to be insulting, but private money is not cheaper than conventional financing unless you are getting a loan from a relative or close friend.
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10 May 2024 | 36 replies
@Brian Williams I haven't had any issues.
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10 May 2024 | 7 replies
There are also tax issues.
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10 May 2024 | 10 replies
A agent might do some searching or set up an automated search but except in the relatively small number of deals where the agent has an inside track about a property to come available the agent isn't making a huge difference for the finding of the deal.
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10 May 2024 | 2 replies
I never had issues with them until this incident.
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11 May 2024 | 10 replies
2024-01-03: Major Detroit Developments for 2024https://michiganchronicle.com/2024/01/03/major-developments-that-will-define-detroit-in-2024/2023-12-13: Volkswagen Scout Brand investing $11M in Detroit, 200 new jobshttps://www.teslarati.com/volkswagen-scout-11-million-detroit-investment/2023-11-02: Hotel Added to Hudson Site, total over $1.4Bhttps://www.detroitnews.com/story/business/2023/11/02/hudsons-site-hotel-plans-move-ahead-as-city-issues-permit/71426631007/2023-11-01: Detroit west side Dexter Neighborhood Receives $21.5Mhttps://www.clickondetroit.com/news/local/2023/11/01/neighborhood-on-detroits-west-side-receives-more-than-215m-in-investments/2023-09-27: Norway’s Nel Hydron investing $400M, 517 new jobshttps://businessfacilities.com/nel-hydrogen-will-build-400m-gigafactory-in-southeast-michigan#:~:text=In%20Southeast%20Michigan-,Nel%20Hydrogen%20Will%20Build%20%24400M%20Gigafactory%20In%20Southeast%20Michigan,green%20hydrogen%20using%20electrolyzer%20technology.2023-09-08: Chase invests $200M in Detroithttps://www.axios.com/2023/09/28/detroit-rebound-jp-morgan-investment2023-09-06: Gilbert Foundation invests $439M in Detroithttps://www.henryfordmsu.org/news/september-2023/gilbert-family-foundation-announces-nick-gilbert-neurofibromatosis-research-institute2023-07-26: Bollinger Motors investing $44M, 237 new jobshttps://michauto.org/bollinger-motors-plans-44m-metro-detroit-investment/2023-03-30: 15 New Detroit Developments to Be Excited Abouthttps://www.metrotimes.com/detroit/15-new-detroit-developments-to-be-excited-about-photos/Slideshow/32734721/327353922023-03-28: BorgWarner Investing $20.6M, 186 new jobshttps://www.crainsdetroit.com/auto-suppliers/borgwarner-invest-206-million-create-186-jobs2023-03-28: 3 International Companies Choose Detroithttps://www.detroitregionalpartnership.com/international-investment-comes-to-detroit-region/2023-03-06: District Detroit $1.5B Development, 12,000 temp jobs, 6,000 new jobs2023-02-09: 6 New Residential Developments in Detroithttps://detroitisit.com/6-new-residential-developments-in-detroit-to-know-about/2023-02-08: $2.5B New Center by Henry Ford Health, Pistons owner and Michigan State Universityhttps://www.clickondetroit.com/news/local/2023/02/08/incredible-investment-in-our-city-25b-detroit-neighborhood-redevelopment-to-begin-in-2024/2023-01-31: $300M Huntington Place Renovations & New Detroit Hotel https://www.crainsdetroit.com/real-estate/huntington-place-renovations-new-hotel-deal-reachedContact us with any questions you have.
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10 May 2024 | 28 replies
I don't see much change occurring, but hey, I could be wrong.The value of agency, as a whole, varies with market conditions in individual markets; varies with the condition, pricing and demand of an individual property; differs with the relative financial strength of the buyer.