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24 April 2024 | 9 replies
I'd check local tourism statistics for the area as well to see if those are up or down.
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23 April 2024 | 0 replies
I hired an accounting firm specialized in FIRPTA to handle the forms and remittance and put them in touch with title, but after closing, title company sent them a check made out to the firm instead of IRS.Title company claims accounting firm should cash check and pay IRS themselves.
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24 April 2024 | 10 replies
Each week when I drive by to check the property the yard has been mowed first thing Saturday morning which is more frequently than I would have maintained it.
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23 April 2024 | 5 replies
@Nick Clossman Be sure to check your numbers.
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22 April 2024 | 10 replies
They can send you a standard CT lease and then you can cruise forums for landlords to see which things you may want to add (pet fees, no smoking, etc.)The fact that a lot of work has been done will help you in a C-/D, but choosing tenants is going to be the thing that either makes or breaks you and it's going to be hard.
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24 April 2024 | 16 replies
The others I gotta check out.
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23 April 2024 | 4 replies
We are currently trying to book high-season months 2-4 weeks prior to check-in because we see the highest rates this way.
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24 April 2024 | 18 replies
@Stephen BrossardIf you are looking for a market to get started in I would check out the OH markets like Columbus and Cleveland.
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22 April 2024 | 0 replies
The three most common approaches include:Cost approach: An estimate of the replacement cost less depreciationIncome approach: Calculation of estimated potential rental incomeSales approach: Uses comps of recent transactions on similar propertiesBe sure you are leveraging the tax incentives availableIdentify any applicable tax incentives available for commercial properties - historic tax credits in certain areas, opportunity zones, environmental sustainability, etc.Understand available tax deductions, credits, and rebates - Tax deductions decrease the taxable value of a property, tax credits directly reduce your tax liability dollar for dollar and tax rebates are a refund of taxes paid under certain conditions.Utilize a cost segregation study - Cost segregation allows you to reclassify assets into categories with shorter useful lives, therefore accelerating depreciation and creating tax savings.Leverage energy incentives and deductions - Look into the Section 179D deduction and how you can save on tax by meeting certain standards to make your property more environmentally friendly.Best practices for commercial real estate owners and monitoring their property tax regulations:Plan proactivelyWork with a professional to receive guidance on complex regulationsUtilize specialized software tools to drive efficiency and compliance.What questions do you have regarding property tax valuations?