All Forum Posts by: Jonathan W.

@Theodore Ezzedine everyone feels this way about first deal. What if this, what if that. If numbers make sense, get in the game. Life changing.

@Srushti Khairnar

My in house team could do a much better job for you depending on where the unit is. Turn over should be 7-21 days depending on repairs. If it's a normal lot, 2 cuts a month should not be 200$.

@Kim Leduff

Will be on you tax forms but it is just Purchase price - land value = depreciation total. Divide by 27.5. No spreadsheet needed. You do add capital spend back in if you did any before renting. After it would be another line.

@Joseph Agins

If your wanting more properties. Yes, cashout. Make sure you look at the tax laws for the interest expense, if the cashout does not go back into improving that property.

@Joseph Agins

Two thoughts.

Remember your tenants are paying the mortgage.

When you refinance, you may pull all your money out tax free and the return is infinite.

@Brendan Miller

Don't forget about snow removal and mowing unless the place is setup in a way for tenants to take care of. I didn't realize how expensive Snow removal is. Sucks even more when it stops and snows again 24hrs-36hrs later. Bam 2 bills.

@Brendan Miller

Why water, sewer, trash? This should be easy to bill back to tenants. For quick analysis that looks fine but once you see the property your capex and repairs will most likely need adjusted up unless it has been redone recently.

@Isabelle Chapman

It does not need to be a home run like him. Find a single and get it to the game to learn. That first one teaches you so much. Once you get 2 years on the books, financing get easier.

@Bernadeau C.

Can you say easy if you have good credit and equity. Rates and fees a bit higher.

@Braxton Warren

The interest of your new loan is not all tax deductible if you use cash out for your primary. You would still only use interest from Original loan for the write off. If you used for investments you could right off that interest for that new investment.