All Forum Posts by: Jesse East

The first post was more of a hypothetical.  The second post was just one day and we didn’t stay the night.  We didn’t buy in that city, bought in a different city.  We were told scouting didn’t count and couldn’t use our mileage.  Really I am just trying to educate myself as best I can.

@Natalie Kolodij Thank You! Very helpful!

@Natalie Kolodij So I own 2 properties in another city currently. If I go and meet with my Real Estate agent in that city to look at more properties, then I could write that trip off? Hotel, Milage, and food?

Thanks for your help on this, these books have really got me thinking about these types of things!

I just finished two tax books, “Tax Free Wealth” and “Tax Strategies for the Savvy Real Estate Investor”, and both books talk about how to deduct vacation expenses with some planning. However, my tax advisor told me scouting properties does not count as a deduction.

This did refer to a specific trip we took for the day to another city a couple of hours away. We meet with several realtors at about 5 different properties. We schedule these appointments ahead of time and the only reason we took the trip was to look for properties, and that is all we did that day. I feel like based on what I have now read that this mileage at the least should be deductible and most likely lunch as well.

What are your thoughts?

Thanks!!

@Jason D. thanks!!  I had never heard of this option before.  I will look into it, do most lenders offer this type of financing?

Hey guys, 

I am in the process of buying a duplex and wanted to know how long you have to wait after purchase (with cash) to finance the property with a lender.