All Forum Posts by: Miranda Obermiller

@Miranda Obermiller

I recommend finding an accountant specializing in real estate taxation. You may want to consider working with your accountant remotely to expand your options.

I would also recommend looking for a tax strategist willing to work with you throughout the year, not just when preparing your tax return. You want an accountant who can help you strategize and who is responsive when you want to know the tax consequences of the decisions you are making throughout the year.

Good luck.

One often overlooked item for those who invest in Ohio is not filing the locality returns.

Ohio is a unique state where they require locality returns to be filed in addition to the state return.

Depends on what your budget is. For me, I actually just try to get rid of any landscaping/maintenance as much as possible, thus reducing my costs monthly. Utilize rocks/stone/black top and getting rid of grass and trimming trees to reduce leaves etc..  You can do this in phases too, especially if you are the one who is cutting the grass. From the add value, take a look at higher selling comps in your neighborhood and see what those properties had. This can get you an idea on what could work. 

When I bought my first investment property I thought the same thing.  Give it curb appeal to help in getting the max possible rent.  The truth is most of what you're suggesting is will go un maintained.  Tenant for the most part will not take care of the bushes, weed the mulch beds or much less keep the yard in great condition.  It will just be money through in the wind.  The only way to keep your property looking great on the outside is pay a landscaper or come by and do it yourself.   Not to say there are not some tenant that will take on a green thumb and keep the place looking great, but they are few are far between.  

What you need to think about is what can I do to reduce maintenance around my property and keep it in the best possible shape that has little to impact on my tenants while they are leasing.  Plus this will help in turn over time.

In my area of Florida, many home single and duplex are not built with gutters.  Rain water falls off the roof and over time you will get dirt and mud splash up on the walls.  I have gutters installed and then I DYI underground piping to move the water further away from the house.

I have leaf guard on the gutters too.

I fence in each side of  the duplex to provide privacy for each tenant, plus I allow large dogs with tenant paid insurance. This allow me to ask for higher rents.

I use rock over mulch and twice a year I use Ortho Ground Clear to keep weeds at bay. I also encourage the tenant to sprinkle PREEN on the beds a few time a year if weeds start to pop up. I have just drop a jug by at time and there are happy to do it.

Slow growing plants that are draught resistant for less upkeep.

I pressure wash the drive way with each turn over and do outside of  house once a year too.

One house I have get a lot of pine needles on the roof.  It's quick work with a blower to clear them off, they will premature age your roof if you don't. 

All these thing will not get higher rents, but it will prevent higher repair and maintenance cost in the future.