All Forum Posts by: Jeremy Torres

I gave it to him all handwritten, but very organized.   I just didn’t specify if it was for repair, supplies, or maintenance.   I just did like  

Lowe’s -200  1/1/23 

Dollar general-  $10  2/14/23 

Walmart $40  3/9/23         

PER PROPERTY, then I added it all up then I also wrote in total rent income  PER PROPERTY.

he said too confusing . 🤷🏼‍♂️🤷🏼‍♂️🤷🏼‍♂️🤷🏼‍♂️

my current cpa has been in the business for 40+ years.  He’s about 70-75 or so.  This year I just felt like it’s complicated to keep up with my invoices and give him itemized numbers.   he wants it broken down specifically (repair, supply, maint., rent , etc)  is this normal???    I have 5 properties that seems hard for me or is that normal?   Anything y’all do that makes tax season easier?   I just had to file an extension because I bought two properties last yr and my CPA was booked up and wasn’t able to complete my return due to me ‘not having my information correct.’
I felt like I was ready, given had all my 1098 statements from the lenders. 
 I thought about doing my return through Dave ramseys tax pro. they are state based and are certified through your state.  You can upload all your invoices online (year around) and it seems like it’s more easier. Every invoice you get you can upload it on your portal and they do they need to do witht them for you.  (It is more costly though)     I gave my cpa my income & expenses per property he said that’s not enough.   I hand wrote each transaction for each property and nope that wasn’t enough.  When he said that wouldn’t work I felt like selling all 5 of my rentals on the spot!      What do y’all do to make things easier and simplified for multiple properties?? 

My question is should I buy a duplex with an fha loan, live in it for a year, rent out one side and then move out and rent both? 
I feel like the rent will barely cover the mortgage and I won’t make any cash flow. 

Or I can live in it for a year and move back?

Currently, I have 5 rentals & Live with parents still. Im wondering if I should move out and buy a duplex and after a year rent both sides out.

Currently, I have 5 rentals & Live with parents still.  Im wondering if I should move out and buy a duplex and after a year rent both sides out. 

Thanks everyone!  I guess I’m doing alright then.     Right now, I’m averaging $420/mo on each house.  (That’s with low rents)

  I have a 3 bed 1 bath  953sq ft house for $925 right now… I’ll bump that up once lease ends.     Another 3 bedroom for 1,075   I know I can get rents higher.  

I'm 24 years old, I own 4 SFHs, I'm wondering what's your goal when it comes to monthly cash flow after PITI is paid and how do you determine what rent should be ?

@Scott M. Thank you I’m 23 I’ve never had this happen before I own and manage two doors. Hopefully they replace the blinds soon

@David Pai thanks. They just moved in June 25th

Ac filters… what if I go in there and it hasn’t been changed in a few months ? What do I do?