As an example I have spoken to many and have volunteered to share lessons learned from notes, private lending, or any other type of real estate and first questions are “what will you pay for referral fee” or it costs X to speakWhen I tell them I am not selling anything - they don’t care.

Keeping them separate is for better bookkeeping, managing the numbers, and when you sell or refinance.The disadvantage is that it will cost you more to have separate LLCs, and it may be more of your time to track.But if the goal is to buy more properties, build the foundation correctly.

Hello all,If anyone is familiar with cost segregation studies, do you know what asset class/depreciable life a stand alone, metal sheet, metal frame carport would be depreciated?

If you're interested, feel free to DM and I can send you some recommended resources. 

@Kayla Palmieri read the contract or have your buyer’s agent explain thoroughly as some inspection contingencies require a licensed home inspector actually inspect it, and some even require approx cost of repairs and if seller agrees to that amount then you cannot exit for inspection contingency.

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

@Gladys Villa we chose to buy a fixer-upper in a great neighborhood, live in it for 2 years while renovating, sell with the tax exemption (now up to $500,000 profit tax free), then repeat until our kids needed more stability for schools.

If you have owned it for 5 years and lived in it for 2 out of the 5 years prior to selling it then you will get a proration of the gain tax free for the period of time you lived in it. 

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