All Forum Posts by: Jack Tinker

I am curious. Typically when I analyze a property I include the usual (property tax, insurance, etc.), I was wondering if anyone includes rental income tax as an expense when analyzing a property? For example, after deducting insurance and whatever other tax write-offs there are (renovations, anything else?), you have to pay that tax (depending on your annual earnings). Obviously this would effect the COCROI, so I'm thinking it should be an expense. 

Let me know your thoughts :) 
 

@Matthew 

@Matthew Meikle I like the idea of bill back. I guess I would bill back 50% of the water bill to the tenants in each unit. I haven't signed any tenants into an agreement yet, so I could still add this to the agreement.

Thanks!

Hi All,

I am just starting the landlord process here in Winnipeg Manitoba. I am renting out both units of my duplex. There are separate meters for gas and electricity, but only a single meter for water. Therefore I included water in the rental amount, and I will pay for it each month. 

My worry is the usage will be out of my control, and I have heard horror stories of massive water bills from tenants. Is there anything I can add to the tenant agreement or any strategy I can implement to control this? 

Thanks in advance!
 

Hi Everyone!

I'm just curious, those of you that have been investing for a while now, did your portfolios get hit badly during the 2007-2008 recession? What is the best way to protect your assets if you are paying mortgages on all of your properties? 

Thanks in advance

@David Gotsill 

I agree with you about jumping into it immediately, that's kindof what I ended up doing and I'm treating as a learning process to gain tools and tips for future deals. My agent mentioned similar ways out of offers, I just didn't know if that's considered bad etiquette or generally frowned upon. That's good to know though, I appreciate the feedback! :) 

Hi Everyone,

I've been through the whole deal analysis process and purchased my first duplex a few weeks ago.

A question that comes to mind, I keep hearing experienced investors say that they make around 10 offers out of the 40-50 deals they analyze. What do you do if more than one of these offers gets accepted, what do you do if 5 of them get accepted? It's my understanding that when an offer gets accepted it's hard to back out of. So it makes me a little nervous putting in multiple offers.

I appreciate the feedback

Hi Everyone,

I've been through the whole deal analysis process and purchased my first duplex a few weeks ago. 

A question that comes to mind, I keep hearing experienced investors say that they make around 10 offers out of the 40-50 deals they analyze. What do you do if more than one of these offers gets accepted, what do you do if 5 of them get accepted? It's my understanding that when an offer gets accepted it's hard to back out of. So it makes me a little nervous putting in multiple offers.

I appreciate the feedback.

@Justin Pilotte oh I'm pretty much in the same boat! I have so many questions and have just been trying to meet with as many people as I can. Theres this site called meetup.com that has different networking events every now and then too.

I appreciate the feedback and replies!