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4 July 2024 | 8 replies
I have worked with about 6 agents and all of them seem to be tired of writing offers for me.
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2 July 2024 | 10 replies
Given the state of the stock market over the last few years, I'm looking for a way to invest in certificates to gain an interest rate higher than what banks are offering and returns that higher than the stock market right now.
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4 July 2024 | 2 replies
The examples were very real world and they even provide a lot of excel and word tools for different aspects of the process that I will now use moving forward.They have more that covered specific parts such as project management, development, property management, etc.
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4 July 2024 | 7 replies
This general log gives an overview of your activities, but it might not be detailed enough for IRS purposes.Example 2: Detailed LogMonday, 7/1/247 AM - 7:30 AM: Monitored security cameras1:30 PM - 2:15 PM: Responded to tenant question regarding parking3:00 PM - 3:30 PM: Monitored security cameras4 PM - 4:15 PM: Checked mail and delivered to tenants, as necessary7 PM - 7:30 PM: Monitored security cameras10:30 PM - 11 PM: Monitored security cameras7 AM - 11 PM: Remained on standby all day for tenant needs/emergenciesThis detailed log breaks down your activities into specific time slots, which can provide a more precise account of how your time was spent.Best Practices for Record-KeepingBe Specific: Break down your activities into smaller time intervals, as shown in the detailed log example.Use a Logbook or App: Consider using a time-tracking app or a dedicated logbook to keep daily records.Document Standby Time: Clearly note the hours you are on standby for emergencies, but also separate it from active tasks.Include All Activities: Document everything from advertising to maintenance and tenant interactions.Consulting with a Tax ProfessionalGiven the complexity of qualifying for REPS, it's always a good idea to consult with a tax professional.
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5 July 2024 | 5 replies
Would love your thoughts on how I can best get clarity on this before making an offer or at least before closing.
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2 July 2024 | 3 replies
Good morningWe have had an extenuating family circumstance and I need to cancel the sale of my property in Charlotte.This is a FSBO and I agreed to pay a portion of the buyers commission.I have already accepted an offer and recently notified the sellers agent of my intention.Am I legally able to cancel the sale?
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5 July 2024 | 11 replies
I'm not a CPA (although I do know a great one that specializes in RE specifically) but you can run a cost segregation study to accelerate depreciation into the first year to help on taxes (although this is phasing out, but can still be powerful), and may help with your plan to do Roth conversions.
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1 July 2024 | 3 replies
A a basic starting out foundation what is a good percentage of ARV that ii should be looking to offer on properties in the Phoenix (Valley) area.
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5 July 2024 | 2 replies
I greatly appreciate any advice you can offer!
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4 July 2024 | 6 replies
A self-directed 401(k) plan offers the small business owner one of the last significant tax benefits.