If you have that experience, look for a local commercial lender.

I’m eager to learn and would be grateful for any suggestions or experiences you can share, especially if you’ve dealt with challenging markets like this one.

I believe that if you are well versed on a specific market, or have someone who is knowledgeable in that market, you can do a successful BRRRR in another market as the local will likely have everything you need to get set up! 

Account Closed I would love to speak with you about your property management needs.

Pleasure to meet you Matt!

Hi Renee,Have you considered Pittsburgh?

Someone I know bought a ranch to use as a short term rental property in 2021 for $1.7 million.Engineers did a virtual site visit, they were able to assign a value of $347,000 to either 5-7-15 year assets that were eligible for depreciation.In 2021, the bonus depreciation amount that you could take was 100%.This means that the owner could immediately deduct the full amount of eligible property in the year it was placed in service, rather than depreciating it over time.With that in mind, he took the full $347K deduction in his FIRST YEAR of ownership to offset taxable income from rentals.This was roughly ~20% of his purchase price.It was a big win for him.In 2024, the bonus depreciation rate is 60% so the calculation would be different.That said, you can still save and defer a ton.

@Devin James What I am hearing from a lot of buyers is they’re tired of the grey/white combo and personally I can’t stand it as well but I love what you did with the floors, this is a very clean look and I actually like what you did here.

How did you find this deal and how did you negotiate it?

Hi Katlyn, glad to have you as a part of this awesome community!