All Forum Posts by: Kristen Haynes

Please join us at this Free Tax Savings Webinar using Engineering Based Cost Segregation to reduce your federal income taxes! The IRS has money to give back to owners of rental properties and for Business owners with Commercial Buildings or Leases with improvements! Please join us at 10 am PT / 1 pm EST for this informative seminar on how to reduce your tax debt and to take back some of the money- legally- given to the IRS! This little-known or used strategy could bring you back some serious money! Register using this safe link (below) and tell them that Kristen sent you: https://linda-b251e.gr8.com/

If you an't make the date or miss the Webinar, just rach out to me and I will be happy to provide you with additional information! 

@Jay Hinrichs Yes, I got mine back and my Accountant took it that same year, saved the next one for this year, which offset my taxes both years- very helpful to keep for the years where I made more money than others.

Yes, I am a Realtor in both Charlotte, NC and in Charleston, SC- I own a three bedroom short term vacation rental in the Wild Dunes resort just outside of the Charleston Penninsula in nearby Isle of Palms, SC- that's the one that I did the Cost Seg on that saved $278 K. I expect to retire in the Charleston area, but that's a ways off, as I am only 56- I'll rent or sell the IOP / Wild Dunes villa and get a home with an elevator so I can 'age in place', lol.

PS- ask a roofer to come out to see if, over the years, there is hail damage (with most older roofs, there are). You would then contact your Insurance company to make sure that you have coverage for a roof replacement, using just the cost of your deductible, not paying for the entire roof! They will send an Adjuster out, and, if hail damage is found, they will cover it for the cost of your homeowner's insurance deductible! And, yes also to the HVAC- worth doing if it is that old, depending on the size of the house, it may only be $5000 to $10,000, and the new ones that are energy-certified will give you a tax credit, as well- not to mention, these will also help you sell our property faster when it is time to sell, as these will already be 'done'- not to mention, the new HVAC system will save your renters money every month in energy efficiency!

Definitely. Then, do an Engineering Based Cost Segregation study and get back some of that invested money back from the IRS (it's 100% free to see how much you could save). Here's more info:

It's very easy to have an 'Engineering Based Cost Segregation' study performed to see where you can get back some serious money, using your rentals, from the IRS (most CPA's don't have the education or experience to do this for you- you need to use Enginering CPA's). They're cheap to do, compared to the money that you would gt back. and these strategies can be used over and over again, with each property acquired or rental-renovated. Reach out to me if you would like more information, and we'll see how much cash we can get back for you to offset your losses and expenditures (100% free to do the study, then they give you the amount of the savings and cost to get that money back, and you then determine if you want to move forward).

There's also a FREE webinar discussing this tax strategy tomorrow, Wednesday May 15th, at 10 am PT / 1 pm EST that you may register for here (safe link): https://linda-b251e.gr8.com/

Best of luck to you! Kristen Haynes Realty Pros / Northstar Group

The very first thing to do is to do an 'Engineering Based Cost Segregation' study performed to see where you can get back some serious money, using your rentals, to get back some serious money from the IRS. They're cheap to do, compared to the money that you would gt back. and these strategies can be used over and over again, with each property acquired or rental-renovated. Reach out to me if you would like more information, and we'll see how much cash we can get back for you to offset your losses and expenditures (100% free to do the study, then they give you the amount of the savings and cost to get that money back, and you then determine if you want to move forward).

There's also a FREE webinar discussing this tax strategy tomorrow, Wednesday May 15th, at 10 am PT / 1 pm EST that you may register for here (safe link): https://linda-b251e.gr8.com/

Best of luck to you! Kristen Haynes Realty Pros / Northstar Group

You are cordially invited to a FREE webinar put on by my side business, Northstar, tomorrow, Wednesday, May 15th at 10 am PT, 1 pm EST, on how to leverage your rental properties to get large sums of money BACK from the IRS! This webinar will discuss "Engineering Based Cost Segregation", which is a way your rental properties (or commercial buildings or leased buildings) to offset some major tax money. This tax-saving program is available for rental property owners, even if your are not a business owner. The IRS has some of your money and we want to get it back for you! You may also make residual income while being a 'hero' by helping other Investors like yourself (or business owners that you may know) save money in a big way- a total win-win! You may register for the webinar here: https://linda-b251e.gr8.com/

This seminar will last approximately a half hour to one hour, depending on your questions. We'll look forward to seeing you there! Kristen Haynes, Realty Pros and Northstar marketing Group

You are cordially invited to a FREE webinar put on by my side business, Northstar, tomorrow, Wednesday, May 15th at 10 am PT, 1 pm EST, on how to leverage your rental properties to get back large sums of money back from the IRS. This webinar will discuss "Engineering Based Cost Segregation", which is a way for your clients to offset some major tax money. This tax-saving program is also available for any of your clients that may have rental properties, even if they are not a business owner. You may also make residual income while being a 'hero' by helping other rental property investors or business owner clients save money in a big way- a total win-win! You may register for the webinar here: https://linda-b251e.gr8.com/

This seminar will last approximately a half hour to one hour, depending on your questions. We'll look forward to seeing you there!

PS- If you got this message too late or cannot make it, DM me and I will send you the recording! To your success... Kristen Haynes, Realty Pros

Posted on: May 9, 2024

Last Updated on May 9, 2024

The 37th annual Cost vs. Value report has just been released and it’s full of good information for those thinking about a minor or major home improvement project in the future.

Exterior projects continue to cost homeowners far less than they'll spend inside and yield the highest rate of return upon selling. Larger-scale projects like full bathroom remodels, kitchen remodels, or primary suit additions tend to cost homeowners significantly more and return much less on the investment. Read on to learn about the best and worst home improvement projects in terms of ROI.

Top projects with the highest ROI

Steel entry door replacement

Replacing an entry door has always been number one on the list in terms of the best ROI when it comes time to sell. This year, the latest report indicates homeowners who trade their current door for a steel entry door can expect to recoup a whopping 198%! Averaging about $2,300 to make the swap, this is a home improvement worth looking into.

Garage door replacement

Keeping with the trend of exterior improvements with a high ROI, replacing a garage door is very high on the list as well. Averaging homeowners about $4,727 and recovering about 189% when you sell, not only will this project pay for itself, but it will seriously improve your curb appeal.

Stone veneer

Adding a stone veneer yields a high return when you sell your home . Costing just over $10,000 and recovering a 150% return on investment, this is a great curb appeal investment.

Minor kitchen remodel

Moving indoors, a minor kitchen remodel costs an average of $27,336 and recoups about 86.7% upon sale. A minor kitchen remodel includes replacing cabinet door fronts with shaker-style wood panels and drawer fronts and adding new hardware. A new cooktop/oven range and slide-in refrigerator is part of this project, as are replacing laminate countertops and installing a new sink and faucet. New RVP flooring and painting walls, trim, and ceilings are also included in this cost.

Deck addition

With space to enjoy the great outdoors continuing to be high on home-hunters’ wishlists, a deck addition is a great investment, even if you plan on selling soon. The average cost of a 16×20 wood deck runs about $16,000, and you can expect to recover roughly 78% of your investment.

Midrange bathroom remodel

Costing homeowners an average of $24,000, and recouping 70% at the closing table, a midrange bathroom remodel is a project with a fairly good return rate. A midrange bathroom remodel includes the cost of replacing all fixtures, a 30x 60-inch porcelain-on-steel tub with a 4×4-inch ceramic tile surround, a solid-surface vanity counter with an integral sink, and a tile floor.

Projects with the lowest ROI

Major kitchen remodel–upscale

A major kitchen remodel is something everyone dreams of, but most homeowners are shocked to find out this type of project doesn’t necessarily have a good return on investment. Homeowners can expect to spend about $155,000 and recover only 34% when they sell. Included in the cost of a major kitchen remodel is updating a 200 square foot kitchen with 30 linear feet of top-of-the-line custom white cabinets with built-in sliding shelves and other interior accessories. Stone countertops with imported ceramic or glass-tile backsplash; built-in refrigerator, commercial-grade cooktop and vent hood, wall oven, and built-in microwave unit are also included in this overall cost.

Upscale bathroom remodel

An upscale bathroom remodel can run homeowners nearly $72,000 and only recovers about 42% when the home is sold. Included in the price of this estimate is expanding a smaller bathroom into the existing footprint of the home, a tile shower with frameless glass shower enclosure, a freestanding soaker tub, a stone countertop, and a separate water closet.

Primary addition

Coming in at one of the most expensive things on this list, a primary addition with midrange items costs homeowners an estimated $156,000 and recoups only 31% at closing time.

Bottom line- only do what you need to do to get the best 'bang out of your buck'. Your local Realtor can make suggestions in your market of what is needed and what you can skip to still get top dollar for your home!

ABSOLUTELY USE A REALTOR- even with commissions, they will get you top dollar, will protect you from liability using all of the latest and greatest forms and contracts, will make sure that you get 'some' dule diligence or earnest money if the buyer backs out- the list goes on and on. Yes, you will pay for commissions (which are 100% negotiable)- I like the idea of approaching the agent for the new buy (if in the same area), who might give you a discount on the listing if you also buy from him or her.

There are programs out there that help you BUY before selling, they will give you a 20% downpayment and money for repairs on your existing house- you'd have to use an Agent and them that is affiliated with them and they act as the straw man lender- check out Knock.com, Ribbon, Orchard, Homelight, etc- and there are others- I'm not sure which are available to you in California.

In most states, homes are sold "As-IS" anyway), and all you have to do if you cannot make repairs is to properly DISCLOSE what you know isn't working, so that buyers can take that into consideration in ADVANCE of contract, in both their offer but also to save them surprises later on which could cause them to back out- if they know in advance and all is disclosed, there's less chance of that happening. As both a Realtor with over 32 years experience (and Broker in Charge and owner of my firm), and an Investor- I'll tell you that you will have MUCH more exposure in the market using a Realtor (we pay a LOT of money for marketing, Google SEO, and the MLS is linked to Realtor.com, Homes.com, Redfin, Trulia, Zillow (which we hate due to the massive inaccuracies), and to every other Brokerage's websites also in the area through Broker Reciprocity. You have the best exposure for really, not a lot of money in he end, and you don't pa them until the sale. As an Investor, I will come in low to try to 'get' some of your equity, and yes, it can be a faster sale, but not always *as you have found out) and an Investor's goal is to MAKE MONEY OFF OF YOU AND TO GET AS MUCH OF YOUR HOME'S EQUITY for themselves in the deal as possible. Plus, with a Realtor and maximum exposure, you're not just talking to ONE investor- you might get multiple bids from multiple buyers. In most states, we have a severe housing shortage right now, and not enough homes for buyers- you just need the RIGHT buyer who won't mind a little sweat equity to live in a dream location in a fabulous house! Interview three local, experienced Agents- and go with the one that gives you the most bang for your buck, has at least 10 years in the business, and has solid referrals. If my clients aren't 'Raving Fans" at the end of the transaction, I have really missed the mark- so I do everything possible to make my buyers and seller's happy campers!

If you need help finding a highly experienced, knowledgeable Realtor, I can help you find some through my Broker networks that I will personally vet for you first, if you'd like- just shoot me an pm. Best of luck to you! You've got this! Get hopping before you lose the house that you want to buy! Best of luck! Kristen Haynes, BIC, GC, CMRS