All Forum Posts by: Greg Pugh

@Daray Olaleye
 

I used capital from a HELOC to purchase a note. Is the interest payments for that HELOC an expense I can deduct somewhere in my taxes? And if so, where?

To be fair, rentigo's online chat responds well to my questions. Apparently, my tenants will occasionally change their payment method, which requires them to then respond to an email confirmation. What has been consistent is that my tenants seem to be unaware of that requirement... maybe those end up in their junk mail, and since they don't know it's coming, they don't look for it. Meanwhile, I see they have paid... and the days go by with no deposit in my account. Maybe I also receive an email stating "waiting for confirmation of new payment method from tenant...."???

My experience with Rentigo... very mixed.... I have two different accounts... I believe I set them up the same... I receive emails to confirm rent and maintenance from one... the other... they never come. I like the format, pages are easy to navigate and I assume it is the same for my tenants. However, of the 10 months I have used them, this is the 4th month where some of the payments have taken well past the 5-7  business days I would expect for payments to make into my bank account. For instance, this month of Jan, 2018, at one of my multi-family, 5 payments made, 3 on the 1st, 1 on the 2nd, and 1 on the 4th. As of today, the 17th of the month, the one on the 2nd and the one on the 4th still are nowhere to be seen. 

@Ivan Andrade I've been looking for someone on BP that does multi-unit in NB. How can I reach you? 

Thanks, all. Very helpful!

And what about 2016 expenses.. can they be rolled into 2017 expenses? That doesn't seem legit.

Purchased a buy and hold and am in the long........ process of remodeling. Does this go on the schedule E along with my other buy and hold since I did not rent at all last year?

So, I'm looking at creating an LLC, with a financial partnership between my solo 401(k) and myself. So, if I find a place that needs rehabbing, can I pay myself for labor out of the LLC since I have at times done lots of the work myself? Or am I a disqualified person despite the partnership?

@Andrew V. and @Duke Marquiss... I live in NoCo and fix and flip as well as hold on occasion. I'd love to be added to your lists. Thanks! (Computer froze so I didn't realize I posted twice.)