All Forum Posts by: Michael Bowser

If you are buying the Property Cash you will need to have proof that you have the cash on hand to purchase it. On the flip side, if you will be taking out a loan to purchase the property you will need to get a bank letter saying you are approved/ pre qualified for $XXX K amount to be able to purchase the property.

All the buyers want to know is that you are not putting a offer in that you wont be able to follow through with.

Hope this helps

Hello Everyone,

This is my first post and first time owning a home / owning a duplex.

I saw you are able to right off utility bills (maybe) you pay them for your tenants. What I am wondering is, is it beneficial to pay for there Oil/ electric if you make the cost up in rent.

So assuming all else equal if the rent goes up $200 and it cost me $200 in heat and electric a month, would it be worth taking that on as a responsibility because I can right it off? Can I right it off as an expense? How will it affect my taxes?

Thank you

Michael