Updated over 5 years ago on . Most recent reply
Commercial Real Estate for Taxes relief
I have seen a piece of commercial real estate on the market for under $70k. It is structurally sound in an area of town that offers rehab grants. It requires a full rehab, roof utils, wall, etc. taxes are at $1200yr. I have never purchased commercial real estate Before but I have been reading that it has tremendous tax benefits. Is it worth purchasing that property and take a full depreciation deduction on year one, Then rehab it a few years down the road for lease or sale?
I don’t have a solid plan for the building other that use it for tax deductions for 2020. any guidance is appreciated.