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12 November 2024 | 7 replies
If you place your rental (STR, LTR, or MTR) into service by the end of the year you can begin to depreciate the property and write off certain expenses.
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11 November 2024 | 14 replies
I've been working with job titles like construction project manager, who doesn't know a lot about construction but coordinates architects, engineers, GCs etc, the VP of RE management, who also does not know a lot about construction but oversees site selection, lease negotiations, property management, RE accounting who writes my checks and does annual CAM audits, and other jobs like that.
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13 November 2024 | 9 replies
As an investor-focused agent in the Cleveland market I always have my clients write the following contingencies in when buying a house that's tenant occupied:1) Offer contingent on home inspection- usually a 7-10 day contingency period, this contingency allows you to either A) move forward with the deal B) renegotiate the price if issues are found, or C) walk away from the deal2) Offer contingent on appraisal if you're going financing3) Seller to provide copy of current lease agreement4) Seller to provide a rent roll/tenant ledger with proof of payments received5) Seller to provide copies of 3 previous months of any utilities paid by the landlord6) Seller and tenants to fill out Estoppel Certificate.
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10 November 2024 | 4 replies
1) You would just write an addendum stating that the lease is extended to whatever date and everything else remains the same.
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11 November 2024 | 2 replies
Otherwise many many many agents spend a lot of time and effort finding property and writing contracts only to find that the funds can't be transferred, or they don't have immediate access to the funds, or they need some kind of approval from 3-4-5th parties, or there are exchange restrictions, or 9000 other excuses.You probably need to find them a commercial broker who can handle whatever kind of investment they want to make.
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11 November 2024 | 12 replies
Closed-end private equity style offerings generally have very different liquidity profile than a private credit fund (or interval funds), where the investor lock-up period is generally longer, with most of the returns being generated at exit (or back-ended).
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9 November 2024 | 7 replies
Make sure everything is in writing.
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11 November 2024 | 6 replies
You do not need the property to be in an LLC or business entity to be able to take deductions, write offs, etc.
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17 November 2024 | 33 replies
I'm in the Reno, NV area and while it's not a high fire risk in many areas insurance companies are looking very closely at the mechanicals of buildings before insuring properties or before writing a policy.
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9 November 2024 | 3 replies
You would just take over payments on her existing mortgage.Another option is you write the contract for the $215K that Zillow estimates and you tell your bank that the $31K down payment is coming from a gift of equity.