All Forum Posts by: Christopher Abele

HD customer service (which is generally useless) said no.

@Stephen Brown

Here’s the thing… even in an “inflated market,” if you hit the 1% rule and don’t over leverage, that property brought in roughly 10% of the “value” in a year.

Even if, over the course of 2 years, the value drops by 20%, you’re still even. (Not accounting for everything, just using very loose math to illustrate my point.)

Are you looking for pure cash flow?

43612 is a very popular area for investors. Just be aware that everything is relative; Toledo numbers won’t work if you think of them in California dollars.

I've been buying a LOT at Home Depot of late as part of my BRRRR. I'm approaching the 60 day mark, and remember from one of the podcasts that Hone Depot offers price protection where, if the price has dropped at all in 30-60 days, I can submit my receipts for a refund.

Everything purchased has been on my pro account.

Is there a way to identify price drops easily? Or do I need to go through all of my receipts and look up the skus individually? What if the item went on sale in week 2 and we’re in week 4?

@Tony Kim are you speaking of the Amazon structure in S. Toledo where the old Southwyck Mall was?

While it’s a great step in the right direction, it brought 100 part time jobs to the area and only a handful of full time positions. I’m not knocking growth for the area but it is important to look at what the business brings (in terms of jobs) and not just the business name.

Start in your own backyard. If you're just getting started, being as hands-on as possible can help build equity faster and provide a lot more education than relying on others. 

Thanks @Scott Ashworth & @Aaron Zimmerman

As this is our first property, we are not running things through a CPA (yet). At least for property #1, my thinking for now is to document all purchases (storing invoices, tracking numbers for invoices and keeping a detailed list of what was purchased). 

It was a little unclear, for example, if "flooring" counts towards the purchase price (depreciable) or a one-time repair cost. 

We purchased a property that requires some rehab and repairs with the intent to use it as a rental. This will be under my personal name (sole proprietorship). 

I had originally thought, "I'll figure out the tax stuff later," however I'm going to be doing a decent amount of the work myself and want to track the expenses related to the property. 

For tax purposes, do you account for the purchase price plus the repairs as part of the "total purchase price" and then depreciate? Or do you depreciate based on the initial purchase price? I'm not sure we'll be doing a cash out refi on this and it is my first rental property. Repairs are likely to come in at about 50% of what we paid for the property initially. 

If anyone has links to posts or explanations on this part of the process it would be greatly appreciated. (Not sure what to throw into the search engine.) 

How would you handle the internet access while not occupied? Seems like it would be expensive to have to hook up / disconnect constantly?