All Forum Posts by: Jack Taylor

Great--thanks to both of you for answering!!

This is my first year with a residential rental. I moved out of my condo at the beginning of 2019 (and am renting in a different city). I rented my condo that I own and moved out of to a friend for a 6-month lease at a loss. Then, I turned it over to an Airbnb management company, and lost more (2 excellent financial decisions). Am I able to write-off either of these losses on my tax filings? I know I'll have to consult an accountant, but I at least wanted a general idea of whether I am able to get write-offs for the losses or not on either/both the 6 month lease or airbnb.

Thanks! About 1900 on the title insurance + about 700 for atty fees, plus all the other fees...

My condo I'm selling is under contract. I just received a closing cost estimate from the attorney that doesn't include commissions. Total is about $4400. Selling price Condo=275K. Does this sound about normal for these costs for this price of a condo?

Humboldt Park. I'm not quite ready to sell it just yet, but in the next few months pending a sale of the condo. I've got some nice leather chairs, nice/modern bedroom furniture, desks, barstools, sofa, and a few other big items. 

Hi, I own a condo in the city of Chicago and have already moved out of it. I have a full-time Airbnb company running it now, but I'm not turning enough profit, and I just don't know if I'm going to keep the place - condo market is soft here, and it's barely paying for itself. If I sell it, I won't keep probably 90% of the furniture. What's the best way to go about liquidating this stuff? There are some nice pieces of furniture in here. Just wondering what everyone's thoughts are - I'm clueless in this area. Exploring my options.

Looks like we're going to start with a 30-day letter and see what happens! Thanks for the great advice!

Hi, does anyone have any reliable property management companies in Kansas City that they can pass along to me?

Wow, these are awesome replies everyone! From anyone's experience (and I realize the situation is subjective), but do you think it's better to have the place rented out or sell it?

This question has more to do with condo ownership than investing. I own a condo in an 8 unit building in Chicago. One of the units owners has not paid assessments in over 10 years. The HOA has a lien on the unit, but we are wondering if we have other options to seek out the owed association dues rather than wait for sale of the property?