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All Forum Posts by: Matthew Kern

Matthew Kern has started 11 posts and replied 35 times.

Post: C.R.P.s in Minnesota

Matthew Kern
Pro Member
Posted
  • Rental Property Investor
  • Owatonna, MN
  • Posts 37
  • Votes 12

Okay thanks for the reminders I did end up sending them out. Question on specifics for next year though. If you have a rental unit that has several adults but only one adult pays the actual rent every month. Do you split the the yearly total rent divided by the amount of adults in the unit and send them each a CRP or just the one adult?

For example: 3 adults, $12,000 yearly rent 

so 3 CRPs at $4,000 each?

Post: Insulating 120 Year Old House

Matthew Kern
Pro Member
Posted
  • Rental Property Investor
  • Owatonna, MN
  • Posts 37
  • Votes 12

@Halle Hughes

There could be a number of issues with the windows. It's hard to tell without being there in person to inspect. Some easy fixes I've found but other times the windows just are not worth keeping and eventually should be replaced.

Post: C.R.P.s in Minnesota

Matthew Kern
Pro Member
Posted
  • Rental Property Investor
  • Owatonna, MN
  • Posts 37
  • Votes 12

Hey guys, I was just curious for other rental property owners in Minnesota, does everyone send out Certificate of Payed Rents to their tenants, or do you only send them out if they are requested by Tenants?

Thanks

Post: Local MN meet ups in around Mankato /Owatonna area ?

Matthew Kern
Pro Member
Posted
  • Rental Property Investor
  • Owatonna, MN
  • Posts 37
  • Votes 12

Hey Brandon, there a investor meet up I've heard of that meets in Mankato, but me and some fellow investors started a meet up earlier this year in owatonna, unfortunately we haven't got together much yet because of Covid and busy lives. 

if you want to know more feel free to PM me.

Post: 4 Identical duplexes all in a row.

Matthew Kern
Pro Member
Posted
  • Rental Property Investor
  • Owatonna, MN
  • Posts 37
  • Votes 12

Hey Brandon I live in Owatonna and investments here as well. Just curious where there at specifically? If you could PM that would be awesome.

Post: Investing in the Midwest

Matthew Kern
Pro Member
Posted
  • Rental Property Investor
  • Owatonna, MN
  • Posts 37
  • Votes 12

@Mark S. I can definitely confirm, it's my home town and where I have my investments in. I love it here!

Post: Hands off duplex in southern MN

Matthew Kern
Pro Member
Posted
  • Rental Property Investor
  • Owatonna, MN
  • Posts 37
  • Votes 12

@Sebastian Lee killing it as always.

Post: Which tax deduction category for buying a pressure washer?

Matthew Kern
Pro Member
Posted
  • Rental Property Investor
  • Owatonna, MN
  • Posts 37
  • Votes 12
Originally posted by @Ashish Acharya:
Originally posted by @Matthew Kern:

Hey guys, which category would I deduct under or would I depreciate when purchasing a  pressure washer to maintain the exteriors of my properties?

Thanks

I am sure it’s under 2500. If it’s under 2500, just deduct it as Tools/equipments under de minimis.

If more, just take 100% bonus depreciation. 

 So that would be under "other"? Correct?

Post: Which tax deduction category for buying a pressure washer?

Matthew Kern
Pro Member
Posted
  • Rental Property Investor
  • Owatonna, MN
  • Posts 37
  • Votes 12

Hey guys, which category would I deduct under or would I depreciate when purchasing a  pressure washer to maintain the exteriors of my properties?

Thanks

Post: Can I use the military discount at Lowes for business expenses?

Matthew Kern
Pro Member
Posted
  • Rental Property Investor
  • Owatonna, MN
  • Posts 37
  • Votes 12

Thanks guys.