All Forum Posts by: Dana Carr

Last year (2020), was the first year I had rental income on my taxes. I own one rental property in my own name(it is my former residence). This year (2021), I created an LLC with the purpose acquiring more rental properties. My question is: Am I able to count the rent that I collected since the business was formed (Oct 2021) as business income for the 2021 tax year? Does it matter that the property title is in my personal name? I know the answer is going to be ask my CPA and I plan to but I was hoping someone here might know.

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Quorum Federal Credit Union

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Originally posted by @Scott Mac:

Hi Dana,

In addition to paint, maybe put a strip of black indoor outdoor carpet just in front of the door (and on the steps if they are not cement).

That area is going to take most of the abuse of moving (scraping appliances and furniture) in and out, as well as most of the foot traffic.

Cut 3 or 4 more sheets and toss them in the attic for future use.

A hand full of staples is much cheaper and faster on turns than a full repaint.

Also keep in mind that is a long narrow space and Lighter colors make things appear larger, darker colors--the opposite.

Good Luck!

Thank you for this! I didn’t think of stapling down a mat.

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I’m considering a house and this is the floor of the front porch. What is the best and most cost effective way to finish/cover the sad plywood? This will be a rental, low to average cost neighborhood. I want to add value but not over improve.

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@Brenden Mitchum thank you. I’m also looking for deals locally.

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@Cameron Braig thank you. The Atlanta market is very competitive and expensive for a newbie. Thanks for the welcome.

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Hi I’m newer to the brrrr method and looking for properties in Columbus,GA. I recently moved to the greater Atlanta area and I’m learning the market in Georgia. My other rental is in my old city. I’m trying to connect with others investing in this area and also realtors and property managers. Is it a good area to buy and hold? Are rents steady?

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All Forum Posts by: Dana Carr

Dana Carr has started 3 posts and replied 7 times.

Post: Newbie tax question

Post: Banks who offer HELOCs for Investment properties?

Post: How to finish this porch floor?

Post: How to finish this porch floor?

Post: Investing in Columbus, GA

Post: Investing in Columbus, GA

Post: Investing in Columbus, GA