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3 May 2024 | 30 replies
Provided I am to report the Airbnb activity on Schedule C, can I use the net loss (from painting, decorating, repairs, purchase of washer, dryer, furniture, bedding, linens, towels, etc) for 2019 on this activity against other active income such as W-2 income?
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3 May 2024 | 11 replies
To my surprise, they provided a quote for a 23% management fee per month rent, which includes a one-year rent guarantee (regardless of whether tenants pay or not) and a maintenance credit of 2.5k per year.I must admit, I was taken aback by the figure.
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2 May 2024 | 0 replies
Scope of Work:Initial Assessment: Our team conducts a thorough assessment of the property to evaluate its current condition, identify structural issues, and determine the scope of renovation required.Design Concept: Collaborating with architects and designers, we develop a design concept that blends contemporary elements with the historic character of the row house, maximizing space utilization and optimizing layout efficiency.Structural Repairs: Structural repairs and reinforcements are undertaken to ensure the integrity and stability of the building, addressing any foundation issues, roof leaks, or structural deficiencies.Interior Renovation: The interior of the row house is completely renovated, including the removal of non-load-bearing walls to create open-concept living spaces, installation of new flooring, upgrading electrical and plumbing systems, and installing energy-efficient fixtures and appliances.Kitchen and Bath Remodeling: The kitchen and bathrooms are transformed with modern finishes, custom cabinetry, quartz countertops, and high-end appliances, creating functional and stylish spaces for daily living and entertaining.Historic Preservation: Special care is taken to preserve and restore original architectural features such as exposed brick walls, decorative moldings, and hardwood floors, enhancing the property's historic charm and character.Exterior Enhancements: The exterior of the row house receives a facelift with fresh paint, repaired masonry, restored windows, and landscaping improvements, enhancing curb appeal and contributing to the overall aesthetic appeal of the neighborhood.Quality Assurance: Throughout the renovation process, our team adheres to strict quality control measures and standards, ensuring that workmanship meets or exceeds industry best practices and building codes.Finishing Touches: The finishing touches, including interior decor, lighting fixtures, and hardware, are carefully selected to complement the design aesthetic and create a cohesive and inviting atmosphere.Timeline and Budget:The single-family flip project in the Philadelphia row house is estimated to be completed within [timeline], with a budget of [budget].
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3 May 2024 | 6 replies
In my experience, the NCREIA stands out as one of the premier REIAs, providing a wealth of invaluable information tailored to your specific market.
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2 May 2024 | 31 replies
This includes having team members that specialize in each specific part of the process, spotting macro trends quicker, and buying consumables, furniture, and other services in bulk.
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3 May 2024 | 2 replies
@Troy Bullock I provide a seller net estimate for a property price range when I go to a listing appointment.
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3 May 2024 | 33 replies
In addition to it being illegal (ask investor friendly closing agents, transactional funding premise is to provide separate funding), this process of closing on BC first then AB will create a clouded title wouldn't it (rhetorical)?
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3 May 2024 | 7 replies
So once you get to 5 units, most investors end up on the commercial mortgage side of a bank.And as he notes, from a brokerage standpoint, in my market, I see most 8 units or less exclusively on the MLS. 8-20ish units are a mix of MLS and Loopnet/Brokerage sites. 20+ units are almost exclusively listed by brokers that specialize in multi-family and you will not see their names on yard signs anywhere.
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3 May 2024 | 2 replies
It's not just about maintaining the property; it's about enhancing its value and providing a better living experience for tenants.
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3 May 2024 | 7 replies
I haven’t bought with other turnkey providers, so I can’t add perspective in that way, but They have been very helpful every step of the way.