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16 January 2025 | 7 replies
If you could be so kind, please provide me a list of benefits I would gain with a Property Manager.Again, thank you for your feedback.
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9 January 2025 | 15 replies
You need to do a cost-benefit analysis to determine if it's worth it.
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10 January 2025 | 0 replies
When it comes to real estate, here's a general list of eligible assets and their depreciable lifespans that you should know: Residential Rental Property = 27.5 yearsThis includes any building or structure where 80% or more of its gross rental income is from residential units.That means:- Apartment buildings- Single-family rental homes- Duplexes, triplexes, and quadplexes- Mobile homes (used for residential rental)- Any kind of residential lodging facility where the primary purpose is long-term rentalCommercial Property = 39 yearsThis includes non-residential properties like:-Office buildings-Retail stores and shopping centers-Warehouses-Industrial complexes-Hotels and motels that do not qualify as residential rental propertyLand Improvements = 15 yearsThese include sidewalks, roads, fencing, some landscaping, and parking lots that are separate from the building.Personal Property = 5 or 7 yearsPersonal property used in a rental activity usually has a 5 or 7-year life.This includes most furniture, appliances, carpeting and various machinery.Qualified Improvement Property (QIP) = 15 yearsGenerally, this includes any improvements made to the interior of a non-residential building after the building was placed in service, excluding elevators, enlargements, and the internal structural framework.Computers and Related Peripheral Equipment = 5 yearsVehicles = 5 yearsNote that the land itself is not depreciable.
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13 January 2025 | 7 replies
And, factor in the depreciation and other tax benefits, deductions, home office, vehicle expenses, etc.
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14 January 2025 | 329 replies
They are usurping your property for the benefit of the public.
10 January 2025 | 2 replies
How many years managing is equivalent to the benefit of the 20% down?
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12 January 2025 | 8 replies
If they are relatively the same but offer a front desk etc maybe they are superior.
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14 January 2025 | 4 replies
Yes, there are some circumstances that would allow you to assume it; relative, death of a spouse, etc.
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10 January 2025 | 2 replies
What I'm wondering is: is there a way to get the cash invested into this rehab back out of the property in a relatively short timeline, as if it were a BRRRR?
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18 January 2025 | 15 replies
You are (older/retired) and could benefit from house hacking and buying a duplex, or renting a room.