Here are a few definitions that you absolutely must know.Bookmark this thread and use it as your cheat sheet for 2024.Okay, let’s dive in:Here are the terms that I’ll define in this thread:-DEPRECIATION-BONUS DEPRECIATION-COST SEGREGATION -BASIS-LAND VALUE-IMPROVEMENT VALUE-3115-RECAPTUREDEPRECIATION:Depreciation is the decrease in $$ value of your asset over time due to wear & tear, etc.Standard depreciation is deducted evenly over 27.5 years for residential and 39 years for commercial.Even w/o cost segregation you get to deduct depreciation each year.BONUS DEPRECIATION:This is an accelerated depreciation method.

If you have any tips and tricks and best methods to getting my first sale that would be very helpful and appreciated. 

how can i find someone to lend me money to use the brrr method?

The legal method is to file for an eviction and slog through the time-consuming court process.

Consider using the snowball method to help you eliminate debt.

It is a methodical approach to investing that allows you to earn a higher combined rate of return (Cash Value plus Real Estate)

I’m trying to work with a seller who deals in off-market properties, but they only accept cash or an “unrestricted line of credit” for payment.I have about $200k in liquid funds and want to invest it all, but I'm running into challenges with payment methods.

Another benefit to purchasing Turnkey would be they in all likelihood would have vetted the tenant and would have methods in place to make sure a higher quality of tenant was delivered.

But, it’s worth consulting with a tax professional to assess whether any parts of the expense could still qualify for immediate expensing under safe harbor rules or another method to maximize deductions. 

.🙌  make connections with other Airbnb strategy investors and gain the confidence to BRRR my first property with no previous construction experience 😅🤝  make a great connection with someone who is an expert in BRRR method