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19 November 2024 | 6 replies
Every once in a while I'll get motivated to search for grants to help me expand my portfolio and add to my cash flow but I've yet to find anything nor have I heard of any success stories.
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18 November 2024 | 3 replies
If you provide more details on the home value, existing mortgage remaining and what the interest rate and payment are you may get some better advice.Is your dad willing to take that $100k of equity over time instead of all up front?
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18 November 2024 | 4 replies
I plan to make aggressive offers, 20-30% below market value, to appeal to motivated sellers.I've been considering these areas:BeechviewBrooklinePenn HillsTroy Hill & FineviewI'd love to hear your thoughts on these areas and get some more ideas for potential buy-and-hold properties.Thanks!
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15 November 2024 | 8 replies
Despite my efforts to educate them on this topic, they remain convinced.
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17 November 2024 | 9 replies
I sent an email and he acknowledged that the listing has been removed from MLS and that the listing agreement has been terminated…Looking at the listing agreement contract, it states that the “contractual obligation shall remain in full effect unless terminated by mutual written consent by all parties”.Is there a specific form that needs to be filled out or is the email acknowledgment enough?
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19 November 2024 | 10 replies
However, you could convert the rental property into your primary residence, live there for at least two years, and qualify for the Section 121 exclusion to avoid up to $250K (single) or $500K (married) in capital gains, though depreciation recapture remains taxable.
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18 November 2024 | 0 replies
In the last year for Knox county specifically the median sale price is up 9.92% and the whole MLS is up 7.14% year over year.After beginning to recover in July and August, home sales throughout the East Tennessee region slowed up again in September which is somewhat expected as schools get back into swing.Mortgage rates remained below 7% for the entirety of September, for the fourth month in a row.
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20 November 2024 | 22 replies
I would suggest having a conversation first about what interests you the most, being excited about investing goes a long way, I would not just do it just to do it, what will motivate both of you?
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19 November 2024 | 5 replies
I will still be managing the property, as well as be an inheritor, so ideally my name should remain on the title.
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19 November 2024 | 7 replies
As others have mentioned, you will be able to take bonus depreciation, for certain assets, which won't be pro-rated.When you get the cost segregation study, it will break down the home into several buckets39 year property, 15 year property, 7 year property, 5 year property and land.The remaining assets will be pro-rated when it is placed into service.For example, a building placed into service in January will have a higher depreciation expense than the same building placed into service in November.Best of luck.