All Forum Posts by: Daniel Rines

I'm hoping someone can give me some insight to this rather individualized question.  I own a 2 story duplex and rent the 1st floor and live on the second floor.  In 2017 I built a laundry room with hook-ups for both my washer/dryer and my tenants washer/dryer.  Expenses included: plumbing, duct work, electrical, and lumber.  I'm looking back at the expenses for this and not sure how to sort them out since we both use the room.  My best guess was to split the cost in half and itemize that way since we share the room but I honestly have no idea.  Any help would be much appreciated.  Thank you in advance!

-Dan

Thanks guys that's extremely helpful!

I'm preparing to file my taxes as a land lord for the first time and looking for some help.  I own a duplex and live on the second floor but plan to move out and rent this floor.  Can rehab costs for the second floor be counted as deductible?  I appreciate any insight.

Thanks!

-Dan

Awesome, thanks for the responses!  Glad to hear people are using these apps, I find them so convenient it just made sense to me to try it with real estate.

Hi, I wanted to get peoples take on using Pay Pal or Venmo for monthly payments.  Does anyone use or has used this.  Is there any negatives to using this that maybe I'm not anticipating?

Thanks!

-Dan

I am currently closing on a home and just had the home inspection and would like to educate myself further on the basic workings in the house (i.e. plumbing, electrical, heating).  Could someone recommend a good book that explains these in an easy to understand way for someone with a limited background in DIY.

Thank You

Looking for a good book suggestion  to educate myself on the topic of taxes, legal paperwork in real estate, etc. I'm a first time home buyer looking to live and rent a duplex/triplex.  Thanks in advance!

thanks Chris!  Ya man Im leaning towards a credit union.

Thanks Michael, ya I think that's what I'll be doing.  I wanted to speak with the credit union I've been going to for years and a couple other local lenders to see what they think.. I'll shoot you a message if it doesn't work with my first few local options

Thanks Tony,  I have been working in the industry for over 2 years but have been working for this particular company as a traveler for 1 year.  Do you think there would be an increased chance of getting the loan with that work history?