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10 January 2025 | 0 replies
When it comes to real estate, here's a general list of eligible assets and their depreciable lifespans that you should know: Residential Rental Property = 27.5 yearsThis includes any building or structure where 80% or more of its gross rental income is from residential units.That means:- Apartment buildings- Single-family rental homes- Duplexes, triplexes, and quadplexes- Mobile homes (used for residential rental)- Any kind of residential lodging facility where the primary purpose is long-term rentalCommercial Property = 39 yearsThis includes non-residential properties like:-Office buildings-Retail stores and shopping centers-Warehouses-Industrial complexes-Hotels and motels that do not qualify as residential rental propertyLand Improvements = 15 yearsThese include sidewalks, roads, fencing, some landscaping, and parking lots that are separate from the building.Personal Property = 5 or 7 yearsPersonal property used in a rental activity usually has a 5 or 7-year life.This includes most furniture, appliances, carpeting and various machinery.Qualified Improvement Property (QIP) = 15 yearsGenerally, this includes any improvements made to the interior of a non-residential building after the building was placed in service, excluding elevators, enlargements, and the internal structural framework.Computers and Related Peripheral Equipment = 5 yearsVehicles = 5 yearsNote that the land itself is not depreciable.
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26 January 2025 | 14 replies
They never talked to me about it and instead just had the shelter call me repeatedly for permission.
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8 January 2025 | 33 replies
Big lenders like Flagstar that have a servicing component are currently using their servicing business insight to go after refinance business internally.
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11 February 2025 | 20 replies
Call a local bank or broker in your area.
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24 February 2025 | 29 replies
I would appreciate any and all help.best regards,Jose have you called some local lenders?
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27 January 2025 | 15 replies
Be prepared to follow up multiple times, using different forms of communication—calls, emails, and if possible, in-person visits to their office.
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30 January 2025 | 7 replies
My family makes a joke about how those items aren't "Nickproof") At this point we decided to call it and come back tomorrow.
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27 January 2025 | 13 replies
A common delay tactic is to call the board of health on a problem the tenant created themselves.
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31 January 2025 | 7 replies
Your investment property is called §1231 property.
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25 January 2025 | 26 replies
Unrepresented buyers will call you after seeing your sign.