Gutted out the entire inside and remodeled to ‘cottage modern’ style.

@Kwok Wong   What is the value of the investment property today? 

Thank you so much for the quick response!

Bonus depreciation is just a special part of the US tax code.It allows you to take accelerated depreciation on portions of your property depending on when an asset is put into service.At the time of this writing, you can write off a huge portion (60% in 2024) of many qualified components that have a useful lifespan of 15 years or less.That means a certain percentage of things like landscaping, sidewalks, latches, appliances, fences, certain flooring, etc is depreciable in year 1.The bonus depreciation rate percentage changes yearly depending on the administration and the tax code.For years 2015 through 2017 first-year depreciation for all the items on a 15-year schedule or less was set to 50%.It was scheduled to go down to 40% in 2018 and 30% in 2019 and then 0% in 2020.But then Trump got elected, and he enacted the Tax Cuts and Jobs Act.That moved the bonus depreciation percentage to 100% from 2017 to 2022.In 2023 it went down to 80% and it’s currently at 60%.Depending on who gets elected again, 100% may be back on the table.Only time will tell.We know that the US government wants to incentivize more development and ownership of RE.They want Americans to continue to build and maintain our physical world.That’s why real estate is one of the most tax-advantaged assets in the US.Depreciation and bonus depreciation for RE are very positive and will likely continue in the years ahead.

I’m just curious, what was your biggest wholesaling fee, and how much were the taxes on it?

Thank you Aristotle, I appreciate the recommendations.

New to the wholesale scene.

I've been a real estate investor and consultant for nearly a decade and firmly believe ADUs are the best way to find cash flow today.I joined BP to learn more about how investors are thinking about finding ROI in today's real estate climate.

However as many of you know in business the bigger the risk the bigger the reward.

Two questions:1) For those familiar with the area and demand, who has utilized a short-term rental management company in the Bremerton, Silverdale area of Kitsap County and what has your experience been like?