All Forum Posts by: Jesse M.

So what issue caused this? @Stewart McMillan Did you not put the SD into a savings account? Didn't send them a check for the interest accrued?

What service did you use for the background check?

Why would you flip this? If everything is finished, what would you add/improve? It seems like you'd be paying close to retail on this. What are the current rents and why don't you think they're already paying $2500/month each?

Go to the CPA. I tried to use TT (as I have for many years) for my new rental and it was almost impossible, and I'm not a dummy. I ended up paying about $300 for all the necessary forms but it was worth it to know my taxes were filed correctly.

So I started renting my first property late last year and took a stab at doing my own taxes just this last weekend. I've been using TurboTax for years. I will be going to a CPA. There were many sections that didn't have any explanations on what to do or where to find information. I had to pull my paperwork from when I purchased the condo (in 2009)! Is that normal? No clue. I also didn't know how to calculate Fair Market Value or properly schedule the depreciation. Again, no help from TurboTax on that front. What I was intending to do was prepare my own taxes and then see the CPA to see if she could find any mistakes or get me more in the return. I assumed the inputs would be relatively simple (earnings, expenses, write offs, etc) but it turned out to be more difficult than I thought.

Godspeed. I have no advice but am considering doing my own taxes as well, although I only have one rental property. Let us know how it goes!

Venmo is super easy and allows tenants to pay from their phone. No charges.

Nice work. Curious about the mirror, specifically removal of the old one. I basically have the same mirror and would like to replace with something like your new one. How did you remove? How much prep did you do after removal? How did you secure the new one?

I have a rental (condo) in Old Irving. It hasn't appreciated much since purchased in 09. In fact, it's probably worth less now. Obviously a condo won't appreciate as much as a SFH but you'd also be buying near top market now, so that's something to consider. Also, if you buy something around 225k, you'd be hard-pressed (imo) to get even 1% rent on that.

The neighborhood is poised to explode soon though. CTA/Metra/highway very close, new businesses going up nearby, new condos, and a megaplex type structure at the "real" six corners location.

1. Behr Premium Plus Ultra - Snowy Pine

2. Depends on many factors, but something either light grey or beige. I used something called Riviera Sand. It helps the white trim pop and gives good contrast to medium-brown cabs and dark granite.