Daniel Loane
Filing taxes: when to expense vs capitalize for vacant rental property
27 September 2024 | 9 replies
For context, (1) the property was in poor condition when I acquired it, and (2) I’m a passive real estate investor.Here are my expenses:- Travel (~$2,000) and meals during travel ($500)—I understand only 50% of meal costs are deductible.- Gardening maintenance (just to prevent the grass from getting too high, not an improvement).- In-year tax consultation ($300).- Commission to my buyer’s agent ($300).- Insurance premium ($1,000).- Insurance deductible following a claim ($1,000).I believe the property won’t begin to depreciate until it’s in service, which seems to align with how TurboTax is set up.
Joseph Campbell
Daytona Beach Market PROS and CONS
30 September 2024 | 30 replies
My goal is to acquire multiple properties in a given market over the next few years and remain active in that market as long as the market still makes sense...
Moises Silva
Financing a rehab and flip
30 September 2024 | 25 replies
Idiots with cash overpay and it prices out the smart investor.You'd have to acquire properties at the auction/sherif sale level.
Vincent Keele
Looking for my first property
27 September 2024 | 18 replies
Perhaps the conventional 5% down, but since I am self-employed and write everything off, I am being told that I would still need to put down 20% and provide a year's worth of bank statements to satisfy the underwriter.My question for the community is: does anyone have any ideas on how I might structure my first deal to acquire property number one?
William Johnny
How Many times can you refinance?
28 September 2024 | 8 replies
So yes, you can keep refinancing and acquiring properties without worrying about hitting a loan limit.
Lilach Holtzer
Let's create good connections :)
27 September 2024 | 7 replies
I was helping some investors acquire properties and figured I could do better with a license.
Rosmery Then
Building Wealth Through Strategic Property Investments
26 September 2024 | 0 replies
Our plan is to use the loan proceeds to acquire more properties How did you add value to the deal?
Austin Snyder
Land Contract/Agreement for Deed instead of Novation for quick Flip
29 September 2024 | 8 replies
I agree with Don that acquiring an interest in property without a title policy is short sighted.
Kyle Fitch
I’m Not Fast Enough
28 September 2024 | 12 replies
Like a lot of new investors you are probably feeling pressure to acquire real estate which can unfortunately lead to bad investment decisions.
Ellie Narie
Help! Do any lenders offer 100% financing for a 6-plex that I'm buying at 65% value?
28 September 2024 | 17 replies
In Oregon, I'm not able to do 1-4 units without being licensed but since you are acquiring a 6-plex, then this is something we may be able to support.