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7 May 2024 | 56 replies
The problem with that is two-fold: first there are likely existing assets that are not replaced that qualify for shorter asset lives so you're leaving money on the table, and second you have no cost basis for the removed assets replaced in the remodel as they're intertwined with the initial building cost basis so you'd technically still be depreciating retired assets which is tax fraud.
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8 May 2024 | 26 replies
The burden of proof would actually be on the claimant in this case however, not the defendant (your comment makes it sounds as if the defendant would have the burden of proof which is technically incorrect).
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5 May 2024 | 9 replies
That’s the technical frustration that I’m trying to figure out how to solve
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5 May 2024 | 2 replies
However, given that the STR it is technically ‘attached’ to my Primary residence, could I still offset loss years against my W-2 income?
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5 May 2024 | 1 reply
Lending software can be complex as if loan is a 30/369 vs actual/365 and late fees, accrued interest etc come into play it gets very technical and if it’s wrong it can be huge fines and violations.
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10 May 2024 | 116 replies
All the "recessions" are caused by greed......and what is greed.....technically speaking....its when some people think that they have found the magic formula of making a lot of money and then try leveraging...And that is why the "best of best" usually protect their principal first and then try to maximize their returns because a single zero can take it all away.
6 May 2024 | 62 replies
First, instead of fighting over deals like there's a limited supply, why don't we all create our own "abundance mentalities" - because no one on this thread has the infrastructure to handle EVERY possible deal:)Secondly, I find it odd that agents are fighting against "off market" sales, but could care less that at least two-thirds of rental transactions are technically "off market" or "off-MLS" (no agents involved).Yet, every agent licensing course covers the handling of rental leases.Guessing that agents only get wound about this topic if a certain number of zero's are involved?
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4 May 2024 | 28 replies
Technically, I know that with the upgrades, I am putting money into the property and any cash flow is already used up before I even receive the rent.
3 May 2024 | 3 replies
He did a great job on mine and can answer any technical questions you might have.
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3 May 2024 | 8 replies
@Tim Hunte Renting my the room is technically illegal in Philadelphia but its just as illegal as doing rehabs without pulling permits.