All Forum Posts by: Marco G.

Tyler Hyma if you’re analyzing a property and that’s your purpose, yes 10% of gross. You can also call around to local management companies and price them out. Call 3-5, I promise you’ll get a wide range of quotes. Most charge a percentage of gross rents, some a flat fee per unit. There will be variations in lease up fees for signing a new tenant. Most will have lease renewal fees. Some will keep late fees, others split them, and some will just take their percent like ordinary rent. Some will mark up repairs, some won’t. Point is, they make their money some where, any deal that seems too good to be true on the surface either is or you’re not seeing where they’re making their money.

Scott Kaczmarek see the post above. You can trace the HELOC and deduct on schedule E as interest expense. I’ve done this the past two years and plan to continue to do so. I use HELOC exclusively for investment property downpayment and irregular expenses.

The most recently passed Senate Bill appears to change the depreciation schedule for real property placed into service in 2018 and beyond at 25 instead of 27.5 for residential, and 25 instead of 39 for commercial property.  Big difference for commercial property.  You also can deduct rather than depreciate some of the big improvements such as roof and hvac on commercial properties.  There's a bunch of additional changes to depreciation that I can't decipher just from reading the bill, or is cross-referenced and I haven't looked it up.  This stuff is starts on page 134.

Lost the home equity loan interest deduction.

Teachers can deduct $500 instead of $250 for school supplies, but this sunsets back to $250.

1031's preserved for real property, perhaps with some modifications (again, lots of cross-references to existing law).

Five of last 8 instead of 2 of last 5 for personal residence capital gains exclusion under section 121.

Looks like if your employer pays you for transportation related expenses involved in getting to work from home, those aren't deductible/pre-tax anymore (think parking, commuter benefits, etc.).

This is all from my quick skim of the bill, and not to be relied upon as legal or tax advice.

I wish too! That’s fantastic!

Taylor Matthews I do 10% flat after day 3, and charge $35 for each 3-day notice issued. Rents in the $12/$1300 range. I think in the $2000’s you’re safe with the same.

I always check aimloan and amerisave (.com for both) as a point of reference. I’ve never found anyone to beat the former and have financed three with the former and one with the latter. Low rates and fees.

I have read about (but never tried) offering to open a large CD for a 6 or 12 month term as an inducement. The thought is that the deposit will allow them to leverage it into more lending based on whatever their capital ratios requirements are. 

I'd wait to see what they say and then see if you can push it further with the inducement. Just be mindful of the FDIC limits.

Is hotpads.com popular in your area? I get good results from there in my neighborhood.

David Kiper where did you get those quotes from, national lenders? It sounds like you’re dealing with a speciality product, but local Banks or credit unions tend to keep their loans on their books and may be willing to get more creative. I’d give a few a call and see they can’t come up with something mutually agreeable. Was option two just a 15yr fixed?

Establish a DBA, to be reported on schedule c. Can write off then. But with all the changes coming, hard to plan.