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11 March 2024 | 3 replies
Here are some of the types of “wanna be” investors who never seem to be able to “pull the trigger:”The Organizer – This individual can’t seem to ever get fully organized - and until they do they can’t possibly make a purchase transaction.
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11 March 2024 | 12 replies
I guess it's surprising to me that the law allows for true non-owner occupied vacation rentals.
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12 March 2024 | 8 replies
I would allow it only if you are properly compensated for it
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12 March 2024 | 36 replies
However, there are other strategies you can consider to optimize your tax situation:Maximize Deductions: Ensure you're fully utilizing all deductible expenses related to your rentals, such as maintenance, repairs, property management fees, and travel expenses to the properties.Depreciation: Make sure you're taking full advantage of depreciation on the properties, which can significantly reduce taxable income.Cost Segregation Study: For larger properties, a cost segregation study can accelerate depreciation on certain parts of the property, offering more upfront tax savings.1031 Exchange: If you're considering selling any properties, a 1031 exchange allows you to defer capital gains taxes by reinvesting the proceeds into another rental property.Energy-Efficient Improvements: Tax credits may be available for making energy-efficient improvements to your properties.Rod
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11 March 2024 | 7 replies
If I was to accept this cash out refinance offer, then rezone the property as commercial, is that allowed?
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11 March 2024 | 21 replies
As long as she doesn't force you to stop, it means she still respects your individual desire to achieve more.
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10 March 2024 | 2 replies
I would love to connect with some new individuals here on Bigger Pockets.
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11 March 2024 | 14 replies
Here is my situation:I open an LLC for each of my investment properties and for each LLC I need a bank account.I do not want to go down the route of using a traditional bank and open a new bank account with say Wells Fargo unless I have to.I have tried baseline banking which allows you to open one "account" and have multiple accounts within that (one for each LLC).
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11 March 2024 | 0 replies
Very close to the beach and short term rental is allowed How did you find this deal and how did you negotiate it?
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12 March 2024 | 40 replies
Never used that rules nor any rules set by the gurus and somehow build up a portfolio that allowed my to exit the corporate world.I find those rules are an obstacles for my clients and slow them down from achieving their dreams.Its better to come up with your own rules based on your personal goals & strategy.