All Forum Posts by: Mad Dendukuri

Hello

I have a tenant who is asking for upgrading carpet and flooring, while its not in bad condition, it is getting old (~7 years) - I agreed to get it upgraded. 

The installer said it will be ~6-8 hours job and can finish within 1 day - but the tenant says he wants to have 1 day relocation and need to stay out of home for 1day. How should I handle this?

Thanks for your insights. 

Hello:

Newbie investor here. I have two properties that I am self-managing and planning on adding one triplex next year - this one requires a rehab. I have been reading that for the purposes of managing/fixing the properties - I can purchase a new vehicle and get tax deductions. I have not established LLC for the first two - but now that I would like to expand, I am thinking about treating it like a business and establish an LLC for protection. I also learned that one can purchase a vehicle and get tax write off. My NOOB questions are:

- Do I need to establish LLC to tax write off on purchase price for vehicle? I cannot do this if a vehicle is purchased in my personal name?

- At what point (num. properties) does establishing a LLC makes sense?

Hello:

Newbie investor here. I have two properties that I am self-managing and planning on adding one triplex next year - this one requires a rehab. I have been reading that for the purposes of managing/fixing the properties - I can purchase a new vehicle and get tax deductions. I have not established LLC for the first two - but now that I would like to expand, I am thinking about treating it like a business and establish an LLC for protection. I also learned that one can purchase a vehicle and get tax write off. My NOOB questions are:

- Do I need to establish LLC to tax write off on purchase price for vehicle? I cannot do this if a vehicle is purchased in my personal name?

- At what point (num. properties) does establishing a LLC makes sense?