All Forum Posts by: Mark Abele

What are the pros and cons of having tenants pay rent digitally?

What service or services have you used or are thinking about using?

Personally I'm thinking about using Google Pay (no fee with just bank accounts) since it integrates well with email and you don't need to sign up for anything to send payments (at least that's what they advertise).

Good to know, thanks Michael!

As many have said in previous Section 179 posts, for real estate it is hard to generate enough tax liability to be able to take full advantage of what section 179 can provide. That being said, is a reasonable strategy to pair it with years where you sell a few rental properties with large amounts of capital gains? Anyone done something like this?

Hopefully this isn't too macabre, but as my portfolio gets bigger I've been thinking about how big of nightmare it would be for my wife to deal with should I die suddenly and unexpectedly. Curious if anyone has some advice or ideas of practical steps to take to make that less stressful for me now and of course easy for her to deal with should the worst happen.

A physical list of numbers/people to call such as tenants or handymen? Or better yet, a property management company I have vetted that she could take everything to? (she wouldn't have time to deal with anything herself as far as property management is concerned) Or should I simply give her names of Realtors I trust to sell the properties?

Has anyone else thought of this and planned in this way?

Thanks in advance for any thoughts and ideas!

A friend and I will be investing in a single family together. I have lots of experience in REI and have partnered with lots of deals with my parents, but this would be the first with him (and first REI for him). I trust him with my life so that issue doesn't need to be discussed. But we both realize there is some inherent value when I will be having the loan solely under my name.

For example purposes, if we buy a $100k home and are putting 20% down, I would put in $15k and him $5k. Would having the loan under my name be worth another 2% of the home's value? So upon closing I would own 77% and him 23%?

Thanks in advance for any feedback!

Hi Avery! I have access to the MLS and can definitely help you with whatever you need. I have experience with both flips and rentals.

Thanks everyone! I have neither used an exemption before nor did a 1031. So I should be good to go! :)

@Naseer Khan Thanks for the heads up about the depreciation recapture!

@Naseer Khan

Thanks so much for your reply!

1) The capital gains are around $50,000.

2) Bought the property as a primary residence. Lived in it for about 3 years. Then used it as a rental for about 2 years. 

This would qualify for the exclusion? So I wouldn't need to worry about paying taxes on the gains and/or worrying about needing to do a 1031 for this property?

Again, thanks so much for your help!

Will I still have to pay long term capital gains tax? (just closed on the sale)