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7 March 2024 | 6 replies
Have you included a clause in the lease agreement indicating that they will be responsible for damages beyond normal wear and tear?
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6 March 2024 | 16 replies
When deciding between investing out of state vs home hacking in Oakland, keep the following in mind.Oakland House Hacking:Proximity: Living in Oakland while house hacking enables you to maintain a close proximity to San Francisco, which might prove advantageous for property management and maintaining connections with the local market.Possibility of Appreciation: Property values in the Bay Area have increased historically, which is good for accumulating equity over time.Local market dynamics, tenant preferences, and potential obstacles might be simpler to comprehend when one is in a familiar location.Demand for Rentals: Oakland has a robust rental market, and you can discover good demand for rental units if you pick the appropriate property and location.Creating Local Connections: If you live in the Bay Area, house hacking can assist you in making local contacts with property managers, real estate agents, and other investors.Investing Out of State:Investing outside of your state may be more affordable and enable you to use the same funds to buy more than one property.A few out-of-state markets can have more favorable cash flow prospects in contrast to the pricey Bay Area market.Geographic diversity, which can help reduce risks related to market-specific variations, is made possible by investing in a variety of markets.Hiring a local property management business, which offers a more hands-off approach to property management, is often necessary for out-of-state investments.Remember, both options have their advantages and challenges.
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5 March 2024 | 10 replies
Participation in actively managing the property, in addition to other factors, changes whether or not losses from a rental (losses that may include bonus depreciation) can be used to offset non-passive income (W-2, 1099, etc). ...
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5 March 2024 | 2 replies
Has any one had any success helping a seller get tax lien relief in the past or negotiated with the city to get the amount of tax liens on a property reduced?
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7 March 2024 | 5 replies
It’s crucial to ensure you’re compliant with your city’s requirements, including permits, taxes, and safety regulations.Ok - that was just a stab at it.
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7 March 2024 | 38 replies
Also including the tenant friendly restrictions limiting any ability to evict still in nj
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7 March 2024 | 9 replies
etc.Tax advantaged accounts include: 401-k and Roth IRA contributions, no HSA.Looking for a professional with proven success, references to others perhaps bigger pockets members who have successful househack strategies.Thanks!
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5 March 2024 | 7 replies
If you go the route of reduced equity upfront, that free $50k could go a long way in your market.
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6 March 2024 | 8 replies
It will reduce rehab cost, speed up the project, and I believe most people prefer an indoor laundry area.
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7 March 2024 | 14 replies
My guess would be 50K including furniture, appliances, etc...Rental income was ~85K last year.