All Forum Posts by: Christopher B.

Hi, 

Is Pay Range still working well for you?  

I'm considering a switch at one of our buildings.  We currently pay $4/machine/month, which isn't much for two machines.  They also take $1/user/month, in trade for laundry credit.  

However, PayRange, takes 3.25% of transactions, which for our volume comes out much less.  On $100 in Laundry a month, it's $3.25, versus $8.  Plus, no charge to the tenants, in exchange for free laundry service.  

From my math, we would have to do $246 in Laundry in a month, to reach $8 in fees.  That much volume won't happen in this building, because there is not that many tenants.  

I like this.  This is an interesting idea in my opinion.  I am in a position where I need to reduce my tax burden for the next couple of years.  This will allow me to get rid of income pre-tax, but still pay bills. 

In other news, I believe Amex's high yield account is at 0.40%.  It's hardly ground breaking, but better than many places, and you can access your cash anytime, since it's a Savings Account, not a CD.

I was using Quickbooks Online, but they started charging, so I am using payments within my Property Management platform, TenantCloud.  

@Adrienn S., there are areas in Detroit that are ok, and some outside.  What are your investing goals.  I'm local to the area, and have my eye on a few projects.  

Similar to above.  Using Rental Losses to offset W2 taxes due: 

I understand there are three designations, Passive, Active, and Real Estate Professional.  Can you explain more about the 'Active' selection?  My CPA has always chosen Passive, but I am Active in the business, so could I utilize size, assuming MAGI of less than $150K?  

Once you engage with an agent, let them know what you are looking for, and some areas, they can get you setup to receive alerts for properties that go onto the market. With that, is usually a link to browse the MLS. The trade, is should you locate a property with the tools the agent has provided you, ideally you would work with the agent for the purchase.

On the plus side, $109 of $2,200 is about 5%, pretty far below the 8-10% that most pay.  8% of $2,200 is $176.  The difference is $67/month.  $67 x 24 months is $1608.  $3,300 - 2,200 is $1,100.  You are ahead by $508, compared to what most pay per month for smaller rental properties.  If they are charging another 1.5 of the rent for a renewal, perhaps you can negotiate that down.  

Both will could be fine, but longer-term seems fine.  Will their new rent be higher than the old rent?  Were they ever late at the old place?  

That's not the case across all of Ohio.  I have a couple of properties in Northwest Ohio, and don't pay water.