Justin Colby
👤 SpeakerAppearances Over Time
Podcast Appearances
What's depreciable?
What is the bonus depreciation?
Is it qualified for it?
Let's kind of walk through all that.
Right.
Now, when you say 15% or 20%, you're saying 15% or 20% of the value of the home.
Of the purchase price of the home.
Of the purchase price of the home.
And then if you do renovate it and turn it into a BRRRR, buy, remodel, rent, and refinance.
And repeat.
And repeat.
The money you spent on the additions and forced appreciation doesn't really factor into this.
You are just saying if you bought the home for $100,000 minus the value of the land, $25,000, you have $75,000 that is workable.
Regardless if you spent another $50,000 on the remodel, that's a little bit dearer.
That's right.
So let's say I did the new kitchens, new wiring for the kitchens.
Okay.
Five-year life.
Yep.
Because that speeds it up from 27 and a half.