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15 April 2024 | 10 replies
Return of capital or making a gain when you sell the real estate?
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15 April 2024 | 10 replies
However, just remember that at some point in the future you'll likely have to recapture that depreciation when you sell and pay tax on the difference between your sales price and the amount you have left to depreciate.
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15 April 2024 | 7 replies
They're created by the brokers that are trying to sell the property.
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14 April 2024 | 5 replies
They now require 24 hr care and he is trying to avoid selling his home to pay the $65k that is owed.
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15 April 2024 | 3 replies
I wouldn't even bother asking for comps or how much they think the repairs are, it doesn't matter what a wholesaler comes up with, a real buyer will know how to assess on their own how much the repairs will be and thus how much they can pay for the house depending on their business plan (either to fix up and rent out, or fix up and flip/sell).
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16 April 2024 | 10 replies
It is more fun to post about getting "18 doors in 12 months" vs posting about "losing money every month because the vacancy and expenses were alot higher than what a random realtor or PM told me, oh and I can't sell the property to break even because I apparently overpaid for the property".
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15 April 2024 | 9 replies
My wife Andrea own over 100 rental properties in Metro-Detroit...We chased this 16 unit down for TWO YEARS before finally getting the owner to sell it to us back in 2022.It had A LOT of work that needed to be done:- Tenants weren't paying rent on time or at all.- Units were completely outdated and had deferred maintenace.- It needed a community face lift and re-brand (was called windmill apartments....yuck.)We came in and strategically worked our business plan:- We upgraded the exterior including fresh paint, signage, and landscaping.- We removed delinquent tenants and changed the community standards around to provide a safe and clean place of living.- We've upgraded 75% of the units with fresh flooring, paint, cabinets, countertops, and appliances as needed.When we took over the property the 16 units were producing around $9000/month in gross rent.I just checked our rent roll today, and we just crossed $17,000 in gross income monthly!
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12 April 2024 | 40 replies
Land is always a pain in the *** to sell.
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15 April 2024 | 28 replies
@Shardea Miller My advice to you would be this: Put together some type of presentation, designed to 'sell' people on the idea of allowing you to rent their property for airbnb.
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15 April 2024 | 27 replies
Be able to distinguish between good operators wanting to help and those that have something to sell.