All Forum Posts by: Joe Kato

So it looks like I made some money this year investing in rental properties.  Will have to pay taxes on it unless I can increase my expenses...  Any ideas for what to do today in new years eve relating to tax strategies or expenses I can write off?  marketing, buy parts for some needed repairs, advertising, pay ahead for snow plowing, etc?

edit: table didn't post

Any suggestion how to reduce my taxable income?

Happy new year!

thanks all.  Yea I always put a CL ad with photos, that's a must.  Just looking to streamline the rest of process I suppose with applicants, leases, etc.  Good idea embedding google drive document.  I will have to try that.

Hi All,

I am looking for new advertising tool (preferable free, or up front cost, nothing recurring) to list rentals, take applications, and sign documents.  What is best, modern way to do landlord / tenant business?  I always end up printing out application for lessee's to hand-fill in and return to me.  Would like to have a simple website to list apartments, have them inquire and submit application in fillable PDF or otherwise, and even work legal documents.  Any suggestions?

It's a pain listing on craigslist / zillow over and over and uploading all photos. Would like to list a link to a website with all information.

So, what do you do or how do you recommend set this up?

Scouring the interweb for building plans and its hard to find anything free about how to build to R100. I agree, every building in the world that has to heat with electric/oil/gas should be insulated and sealed like no other.. Should be PassivHaus standard for all buildings in cold climates. And need more low-cost innovation to air seal and insulate... I was thinking of collecting Dunkin Donuts coffee cups and crushing up and putting in my walls.

I found generic leases to rent out storage units and garages, but any pointers what to include in the lease?

How do I ensure I am not liable for claims that their property is damaged because of me?

Any reason to write lease for less than 1 year? (11 months to be able to evict within 30 days?) The Property is in RI.

agree with insulation. Had blown-in cellulose installed in my two attics. Did the second myself with free rental machine..

I would think about furnace, but this is 3 story with existing baseboard radiators on 2 floors. Has been installed for many years..current boiler is 1981.. No hassle in my time owning it. I think I am not going to mess with anything this year, no enticing rebates are going to get me to change to 95% efficient...

George P. Nice work!

After talking with others, I think I am staying with the old style 85% eff boilers. I hear new 95% ones need a yearly cleaning and more maintenance. Even converting my one oil boiler to gas using Carlin Combustion GasPro would cost as much as just buying a gas boiler

http://www.pexsupply.com/Weil-Mclain-381-357-800-CGA-25-38000-BTU-Output-Boiler-Spark-Ignition-Nat-Gas

As for my burnt boiler... its a Remco from 1981... will try to work new boiler into lease extension..

Didn't mean to imply it only gets to 62 deg.. It can get warmer than that. But a $200+ gas bill for a month seems high when apartment is kept at low 60s.. I like the incentive to change to a high efficiency gas boiler. But worry if the old style boilers are more reliable than new 95% boilers? I guess I should get some HVAC pro opinions but most people I talk to have an opinion or favorite brand and haven't met many people that know unbiased data or scientific results.

@Colleen F. See you are in Narragansett.. Any good MFR cash flows in your area? Any MFR for sale?

I have a 3 story 3 fam with separate utilities and the 2nd floor boiler need replacement in the near future.. Its stamped 1981, and there are burn marks on the outside of it.. The tenants are seeing high gas bills just to keep 1000 SQ FT of livings space at 62 deg. Looking at high efficiency gas boiler since there is $1500 rebate on 95% products, but I see these old boilers last for 30 years.. Are the new high efficiency boilers just as reliable? And should I get a combination boiler and domestic hot water combined, or keep separate for easier maintenance. I am taking a long view of this purchase, so don't want to think about it for 10+ years...

thanks in advance for any insight.