Melanie Baldridge
What is MACRS classification?
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.
Rene Hosman
Have you ever offered rent concessions to entice potential renters?
17 January 2025 | 19 replies
If you buy upscale (desirable) properties in desirable areas as opposed to affordable (undesirable) crapboxes in undesirable areas you won’t need to entice tenants.
Matt Weddon
Legally Rejecting Applications
2 January 2025 | 18 replies
If your leasing application process is thorough and well thought out, and if your lease agreement has been well drafted by your local attorney and if it includes clauses that permit you/your property manager enough latitude to maneuver and anticipate undesirable tenant behaviors, both actions and inactions, and you have operational processes which align with enforcement of your lease, then you've done all you can do to reduce this inherent risk of an undesirable tenant.
Bob Asad
How do you prevent co-mingling of funds?
7 January 2025 | 24 replies
However, if that is undesired i would create a single account to hold all deposits.
Cliff Benner
Tips on finding Existing Outdoor Hospitality Properties for Sale
23 December 2024 | 4 replies
1) Research Zoning of similar property2) Do search with same zoning criteria with propertyradar or have title company give you a list.3) Possibly filter by satellite photos to eliminate undesirable topography.
Virginia VanOeveren
As a PML, you should....
19 December 2024 | 9 replies
He won't do undesirable designations.
Jason Proulx
Should i keep house or rent it in 2025
11 December 2024 | 5 replies
Some thoughts to consider:If you sell now, you are unlikely to pay capital gains taxes as your first 250k (500k if married and filling jointly) aren't reported.Doing your first rental remotely is undesirable without 1.)
Mike Sfera
Right Down Payment Amount??
10 December 2024 | 14 replies
Note i put forth effort in an attempt to maintain a leveraged position With the recent rate hikes, my equity position has never been higher which i consider undesired (but teading 3% rates for over 6% rates is more undesired).
Christian Pichardo
New Investor in TROUBLE - Carrying costs since April 2024
27 December 2024 | 34 replies
I do not know him, but the path he is leading you is a difficult path Note difficult does not imply impossible; there are people who are successful with S8 housing In my area s8 is so undesirable that they write laws trying to make it challenging to not allow S8 tenants.
Stuart Udis
If you are buying lower cost SFH's what is your exit?
9 December 2024 | 20 replies
They don't associate cheap with undesirable.