All Forum Posts by: Johann Jells

Aren't you quick to blame the victim Steve? It wasn't even a strategy question, his office made some basic mistakes on our return. I got the feeling there was little oversight from the CPA/EA, it was his office drones typing in what I had filled out on his "form", which was line for line the IRS data. Now, this was a guy that had sailed me through a triple year audit, I didn't doubt his expertise, but my returns didn't warrant his attention.

I like doing it on Turbotax because I get a real feel for how things are done and how they interact, but do you think I can get a CPA or EA just to troubleshoot as a consultant, rather than actually prepare the returns? I've always figured they would charge the same amount, and with forms A, C and E, it's not a cheap return.

Short answer is through a rare intelligent broker. We were looking for a multi with a unit for us newlyweds, a non-apartment basement for my workshop, and multiple rentals. Most brokers basically didn't listen to us, and showed us all sorts of nonsense. One broker listened, and after I kept showing up to look at the new MLS listings realized we were serious. He then talked the owner of the perfect building for us into selling.

Really. It was never actually on the market, we offered asking. The owner/occupant had raised his very large family in the various units of this 7U, and was now getting too old to maintain it as rentals. That was 97, the absolute bottom of the market here. Luckiest thing that has ever happened to me, besides the wife that is. Even after the crash it's still worth at least 3-4x what we paid.

How do you deduct it if you don't own property yet? On a schedule C instead of E? I was puzzled by this one last year as I had expenses related to a purchase that took place in the tax year before the purchase. Form E often puzzles me, I split office expenses and other such "common expenses" between my properties. It's probably time I give Turbotax a rest and get an accountant to look at my stuff, but I started using Turbotax because I felt I was getting no value from the accountant. I was paying top dollar for data entry into a twin of Turbotax!

On Angie's list they're either GC's or "plasterers" who appear to be restoration specialists who sound much more expensive than a drywall sub.

I do most of my reno work, and hire subs when i need them. What I need is the kind of guys that ONLY do drywall, not a GC who also does drywall. I have a unit that needs 1/4 drywall over many cracked plaster walls and ceilings, and as I've heard it, the specialists would be able to do it far faster and cheaper than the general guys because that's ALL they do, and they have the taping machines and skills to make it fly. Any pointers?

What do you guys consider "hi end" vs "low end"? Mine are around $1200. Here in the NE, you simply never see a whole home done in tile. It's unheard of. I've put down lots of 8mm Costco laminate in units, occasionally even in the kitchen, and been pretty satisfied. Some is over a decade old, and in pretty good shape. The last kitchen I did with it I used glue in the click joints, and when the fridge leaked there was no water damage at all. The attraction vs tile even in a kitchen is not having to install the solid subfloor tile needs. Laminate can go over some amazingly crappy surfaces.

I looked into coin op for my 3U, but decided it was more cost effective to provide the units in the basement and build the cost into the rent. You can get basic used units for under $100 each on Craigslist, sometimes well under. It's cheaper to buy these than repair the old one! Just moving them is a pain.

I'm considering the same for my recently purchased 4U, but they already use an insane amount of water, $300/month!

The ghetto solution in my recent purchase where they're all above each other is dropped ceilings in the kitchens and baths. Just pull the tile, fix the tub plumbing, pop in new tile. I hate the look, but you can't argue with the practicality. Even if the plumbing is sound, all it takes is an overflowing sink or a kid playing tsunami in the tub to ruin the ceiling below.

Slightly OT, but if you really want to save money, don't rent to fertile people! My water bill for that 4U with 3 families and a single was $300/month this winter! I can't be sure but there was around 16 people living there.

How about gas appliances with no shutoff in the unit, just the basement? As for electrical, I think I've seen it all. Lamp cord buried in plaster, open boxes or just taped splices behind walls and ceilings, breaker panel installed upside down with no main to meter, an outlet riser installed on the exterior using plain EMT.

Thanks for the replies, I've been down with a bad cold and not online. I did finally get through to Buildings and they said 90 min. What's absurd and scary is that in another building of mine, with valid state and city inspections before and after purchase, has a basement stair enclosure and door of thin wood alone!

I think, rather than trying to find a possibly hypothetical 28" prehung steel frame 90 minute door and having to rip out the whole frame etc, I'm just going to screw around with the existing one to make it swing shut and make the Housing inspector happy. I've truly got enough "projects" going in this place at the moment that I need to kick this can down the road.