All Forum Posts by: Edward Jakubiak

Thanks Marcia. Good points. 

Hi all,

I tried finding this scenario on the forum and couldn't find something similar.  I am buying a rental property for my 22 year old daughter to start out after college.  It is a 3 BR townhouse in a vacation area.  She will have 2 roommates, 1 right away and one in September.  There is a good possibility of a 2 month summer renter to fill in. I am discounting her third of the rent by $240 a month to get her on her feet.  I am planning to keep it at least 10 years (possible summer weekly rental at some point). I have 2 questions:

1. Since she is family getting a one half discount, would it be better to have a third of it as a second home and write off a third of the mortgage and taxes.  Then have the other 2 as income producing renters?  I see the advantage as being similar cash flow and income with less depreciation write-off (more $ when I sell).

2. Is it okay to do 2 leases for the roommates?  One lease agreement will be tough with different start dates and 1 being my daughter with no lease.  I read it's always better to do 1 lease. 

Thanks everyone.  

Ed 

Thanks everyone.  Kyle - I am buying a townhouse in North Ocean City in Caine Woods.

Hi everyone.  I have always been interested in real estate as my adult life has spanned the 80s through today and i have seen a lot of appreciation over the years.  I think that after the bad years of 2006-2012 we will have a more stable, reasonable growth period that can be made profitable through leverage and good rental rates.  

I an buying an investment property in Ocean City Maryland and will have some specific questions in the near future.  I hope to offer some help if possible since I do a lot with cash flow and rate of return analysis.

Ed