Chris Gawlik
Whats it like to invest in C or D class properties?
8 September 2024 | 101 replies
. # 2 the people in these neighborhoods Are generally low income, so they will fight about damages cause they don’t have the money to fix it, # even if you screen you still can end up with a bad tenants boyfriend or girlfriend who is crazy or sells drugs And say they don’t live there but is always there.
David V.
Polyurea Garage Floor - expense or improvement
5 September 2024 | 7 replies
These are typically deductible in the year they’re done.On the other hand, improvements that better the property, restore it after substantial damage, or adapt it for a new use generally have to be capitalized and depreciated over time.Now, if the cost is $2,500 or less, you might be able to use the De Minimis Safe Harbor election to expense it immediately, rather than depreciating it.
Bruce Yi
Damages in excess of security deposit
31 August 2024 | 3 replies
The security deposit is approximately 10% of total repairs so it won't cover most of the damages.
Ethan Farr
Restricted or not?
5 September 2024 | 9 replies
Civil Suit they would need to prove damages I believe.
Kunal Lakhwani
Experience with MN Property Nerds or Twin Cities Leasing
5 September 2024 | 16 replies
Property damages?
Toby Hale
Advice on theft of property
4 September 2024 | 2 replies
Hopefully their deposit is higher than the damage, but if not, you can document everything and try small claims court, but honestly it is not worth your time as you are unlikely to see the money if you win.
Valerie Bowman
Application/ Property Viewings
4 September 2024 | 9 replies
Allow showings but, you have to be careful - we do not show homes to anyone who has not provided a photo I.D. and been screened through our validation process and provided a credit card in case of damages.
Joe S.
Do you provide mini blinds in your class C rentals?
4 September 2024 | 9 replies
I do supply the 1" light-filtering miniblinds from Lowes (Project Source) - and yes, they get broken pretty easily, but I charge for their replacement on turnover if they are damaged, as @Kenneth Soles does.With the blinds installed, the units show better, create some opacity to thwart people trying to ascertain if the unit is vacant, and provide some privacy once the tenant moves in.
Kevin Lefeuvre
On VRBO, have you chosen damage protection or deposit?
30 August 2024 | 17 replies
Tried both, damage deposit works better.
Julio Gonzalez
Multi-Family Properties and How to Maximize Returns
3 September 2024 | 0 replies
Here is a great article that walks through frequently asked questions on cost segregation studies: https://www.biggerpockets.com/forums/51/topics/1113749-cost-segregation-faqPartial Asset DispositionsA partial asset disposition allows real estate investors to write off the undepreciated value of building components that are replaced during renovations or those that are damaged/destroyed.