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4 March 2024 | 0 replies
To calculate your land value, take into consideration the average price per square foot or acre of the comps and apply that to your land.Steps to apply comps to your property:1) Compile multiple comps: Find a real estate agent to help you put together a list of comparable properties.2) Make adjustments: Analyze each comp carefully to determine whether it has advantages or disadvantages when compared to your property and make adjustments to the value upwards or downwards as necessary.3) Determine the use of weighted average vs average: Depending on how close the comps are to your specific property; you may consider utilizing the weighted average method to place a greater weight on those properties that more closely resemble yours.Using comps to value your land can add a component of complexity and subjectivity.
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4 March 2024 | 2 replies
hi Carl, I would love to connect and ask more questions about this deal specifically due to you mentioning not really making much profit.
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4 March 2024 | 8 replies
@Travis BiziorekYou're absolutely right - I've also come to the realization I need to target a specific "avatar" - we got a local investor from a FB ad and it was probably the easiest among the raise.
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5 March 2024 | 7 replies
Also, what software you use now and SPECIFICALLY what tasks you want the software to do for you.
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4 March 2024 | 11 replies
Whether you have questions about specific investment strategies, market trends, or just need general advice, feel free to reach out.
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4 March 2024 | 8 replies
Quick general pointers, as already mentioned on this thread:- holding a flip property for a year changes nothing for taxes, in most cases- flip properties are not taxed as capital gain taxes and are not eligible for 1031s, in most cases- if you're a full-time broker and do not have other jobs, you will most likely qualify as a real estate professional- which does not exempt you from any taxes, but it can create other tax benefits, specifically allow you to apply losses from your rentals against your broker income- and there are other tax strategies that can help youFrom this point, you need to get yourself a tax pro.
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4 March 2024 | 8 replies
Pick one that is commenting on your specific situation and DM them.
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2 March 2024 | 2 replies
Then once you have more experience if you want and your business has taken off and you have the 2 years of tax returns to then focus on the alternative forms of financing.
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4 March 2024 | 0 replies
I wanted to take a moment and discuss some questions about SFR and respond with some specific trends we expect to see more of in 2024.
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4 March 2024 | 18 replies
If you have to switch to online my thought was to get something specific to rentals, quickbooks online isn't.