All Forum Posts by: James York

I have just received notice that one of my tenants was arrested at my property for something (bad) that I don't believe took place at the property. Lease expressly prohibits criminal activity at the property, but doesn't really cover this detail. I prefer the eviction route as this tenant has been a nuisance to the other half of the duplex, but don't want to find myself in a predicament in eviction court. What do you experts have to say?

@Michael Plaks how would this work for real property? I understood 179 as applying more to equipment etc  

Can someone help me understand the future of bonus depreciation? As I understand it, I can take 100% of 5 and 15 depreciation this year. This phases out starting next year. Does that mean next year I can take 80% of that and the remaining 20% would stay on its 5/15 year course? If not, what am I missing?

I just received one of my rent payments from someone I don't know on behalf of the tenant. The amount is correct and the rent is current. Would anyone take issue with this? 

@Jordan Thompson Where is this property? I live and invest in Concord!

@Porscha March I buy in Concord and just started in Kannapolis. In the last two years I have gone from easily acquiring infill lots under $25k to paying upwards of $50k. Often, understanding the zoning is more important than anything. One of my recent successes came from an improperly listed single family with extra lot. Turns out it was easily 4 lots without even going through subdividing. The whole split process was completed in a week right at the start of covid shut downs.

Does anyone know if there is a way to preview the NC lease that is in the BP forms? I have a lease, but would like to consider a newer one. I don't have a need for BP pro at the moment and can't seem to find any way to take a look at the lease without purchasing it. I realize this is by design so if there is no way to see it, can anyone offer details or opinions on why it's great and why I should buy it?

I am considering the possibility of selling 4 duplexes in 4-6 months and looking in to something larger. Sale would be around $1.5M so that's the starting price for the next property. I like the idea of larger multifamily, but don't YET know anyone in that space and don't have the confidence to move forward. Who has done something similar recently? How did you take the leap? What do you wish you had thought about or what would you do different?