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.

Extremely difficult to pass and I bet you didn't know that you had to get it reinspected again in three years.

In my home, I personally converted an unfinished basement.

I hate to say, but most people here will not truly understand what AI is, and thats ok, but I too am learning and wanting to get more help on using AI for its full potential in real estate.

Does anyone know of any banks in or around the August Ga area that will work with out of state investors?

Time is critical, especially in competitive markets.Clear Offer Terms - Present a firm offer with terms that make the seller feel confident that you can close fast, with minimal contingencies or proof of funds.Due Diligence Preparation - Have your financing lined up and know your repair/rehab costs in advance so you can move quickly without second-guessing.

My business is under a LLC but my properties are in my name.

More importantly, when you are looking at your exit scenario of selling, the same question applies but in reverse, are you calculating the new tax rate the next buyer will pay and reverse calculating a sale price based on the market cap rate?

This single-family property, acquired in June, is a key piece of a visionary development in Morganton.

Do you have an approval or is something even grandfathered in that would allow you to put up a billboard?