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12 March 2024 | 5 replies
I plan to fix foundation, do roof replacements on both structures, do bathroom remodels across 2 bathrooms, new flooring, electrical repairs, add fence & gate, more landscaping. 3. 3plex is held in a LLC of mine. 4.
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12 March 2024 | 7 replies
When you depreciate that portion of the asset, you reduce your basis, and ultimately increase your future tax liability in exchange for the write off in the current year.1) What is your short/long term plan with the property?
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13 March 2024 | 3 replies
I don’t know if it would be worth it to do a 1031 after only a year unless you’re buying both properties for much less than their worth assuming 10% in selling costs (which might offfset any tax savings over just selling the contract) if the property goes from $100k to $110k by next year your taxable gain will already be zero after selling costs.if you plan to sell soon anyway I think I’d lean towards just selling the contract and freeing up the money, saving loan and interest costs.
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12 March 2024 | 4 replies
What is the minimum crew size we'd need to plan for and what the minimum # of builds we might need to plan to keep a crew active in a given year.
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12 March 2024 | 24 replies
The house is great, great location and we remodeled it a little nicer than we originally planned given the strength of the location.
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14 March 2024 | 7 replies
The "Live and Flip" idea could work if you're okay with a short-term plan.
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13 March 2024 | 3 replies
Have you talked to the planning department about this?
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13 March 2024 | 13 replies
Let’s plan for some coffee!
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12 March 2024 | 3 replies
My wife and I both have good jobs that we plan to keep as we’re able to have savings that we re-invest in future downpayments.
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13 March 2024 | 16 replies
I assume metal roofs in general are more expensive so thats why builders, flippers, roofing companies push them because they are better for their margins, but if you are planning on holding the asset for the long haul I have to think metal is going to last way way longer.