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15 August 2018 | 22 replies
If you already got the property, and it's listed for renting, see if you can apply the bonus depreciation for roof replacing (with the same type of roof, no improvements) - talk with your CPA.
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15 August 2018 | 6 replies
Hi @Gloria WashingtonThe benefit of going solar at the same time as a roof replacement is that the Federal Tax Credit (currently 30%) applies to the roof as well as the solar system.
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19 August 2018 | 4 replies
You may also be required to apply for an ITIN and file a US tax return.You may also have to research if there is a tax treaty in place between the US and your country.Investing through a corporation, while not preferred with appreciating property like real estate, can avoid you from having to file a US tax return.You should consult with an advisor with specific details and to see which option is best for you.
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15 August 2018 | 2 replies
@David Weis, Yes, SEC regulations would apply.
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10 September 2018 | 9 replies
Jesus,Don't take any of this as legal advice, it is just friendly advice, but there is nothing wrong with an assignable contract, depending on the nature of the property you are purchasing.
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23 August 2018 | 11 replies
Caution:Contracting for repair, maintenance, remodeling, or improvement by any person licensed under part I of chapter 475 (real estate agent) while acting as the owner’s agent pursuant to that license, where all work requiring a contractor is performed by a contractor who has a current, valid certificate or registration issued under this part to perform such work, and where the aggregate contract for labor, materials, and all other items is less than $5,000; however, this exemption does not apply: (a) If the maintenance, repair, remodeling, or improvement is a part of a larger or major operation, whether undertaken by the same or a different contractor, or in which a division of the operation is made in contracts of amounts less than $5,000 for the purpose of evading this part or otherwise.For the sake of your cousin's license, either make her a part owner (sharing the gross profit as her compensation) or get a GC on the job asap.Just a helpful hint to keep a fellow real estate agent out of jail.
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23 August 2018 | 4 replies
Crowdfunding lenders seem to only apply to flips and I want to hold on to this one.
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17 December 2019 | 16 replies
Apply all the tips above.
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27 August 2018 | 4 replies
Telling them too much they will start throwing what "you're supposed to do" in to the conversation....whether that is accurate to this specific case or not.As far as the parcel segregation, you could actually apply for that any time in theory.
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26 August 2018 | 5 replies
This involves:1 - Breaking away from a home owner mentality with regards to money and investing.2 - Using "$$$" for analysis, and eliminate almost all use of "%%".3 - Learning, and following, the 2 Golden Rules of REI...to be succesfull4 - Understanding the meaning of this number sequence, 1073741824, and how it applies to REI...that's the start.