All Forum Posts by: James Vermillion

Kyle J., I thought if the appliances we purchased and installed during the rest of the rehab (prior to the rental going into service) they would be added to the cost basis of the property. However, later, when new appliances / carpet are put in they would be depreciated separately per the regulation.

I am curious as to what Steven Hamilton II says about this.

Welcome to BP Kasa.

Checkout the [url=https://www.biggerpockets.com/real-estate-investing[/url] Ultimate Beginner's Guide[url], it is a great resource for new investors.

Also, don't forget to upload a profile picture. Good luck!

Welcome to BP William and congrats on your upcoming retirement. Thank you for your service! I left active duty Air Force about a year ago to further pursue real estate investing as well as some other opportunities.

Good luck to you!

If it is advice you are looking for you have come to the right place! I would start with the Ultimate Beginner's Guide, it is a nice primer on real estate investing and will explain some of the various investing options and strategies.

If you cannot find the answers you are looking for please let us know, the members here are great about sharing info and helping each other.

Don't forget to upload a profile picture. Good luck!

Welcome to BP Shavon! I am from Lexington as well and do some real estate investing in the area (just bought two properties in Georgetown actually). I kind of disagree with some of the others about the business plan, as I think it is an important step, however it does not necessarily have to be a really formal document. The key to a business plan (especially to someone new to the business) is that it is not a static document, in fact, it will be a very dynamic one which changes as you learn more about real estate investing and as the market conditions change.

One thing I love about real estate investing is the abundance of options, so take some time to study the different strategies and figure out which one(s) you think will best suit your goals and personal situation.

If you haven't yet, make sure you check out the Ultimate Beginner's Guide to Investing, it is an excellent free resource.

Also, the BP Podcasts have a ton of great information.

Good luck to you!

Welcome to BP from a fellow Kentuckian. I also have family in O'boro (just ate some Old Hickory for lunch two days ago)! BP is a great resource with a ton of helpful investors, so make sure you stay active on the site...the benefits can be huge!

Don't forget to upload a profile picture as well! Good luck to you.

Welcome to BP Diego. There is a ton of information here on BiggerPockets and some incredibly helpful and generous members. Let us know what we can do to help and make sure you take some time to browse the forums, blogs, podcasts, and other areas of the site.

Good luck!

Not only does the comp need to be similar to the subject property, a good comp is also very recent (within 3 months). Markets change pretty frequently, so a property that sold 15 months ago is likely not a good comp.

Occasionally, you might have to go beyond 3 months, but get the newest comps possible.

Glad to help...keep on keepin on!

I like it Taylor! I am actually thinking about a logo / website revamp in a few months.