All Forum Posts by: Derek Morrison

@Amy Heitner Thank you so much! I appreciate your very thorough answer, and everyone else's positive feedback as well!!

What kind of banks finance apartment building investments (if any)? If any do, what's a good estimate for closing fees as a percentage of purchase price, and what's a typical interest rate?

If I'm looking to buy and the seller is interested in seller financing, but doesn't own the property outright, what are my options in terms of seller financing?

@Account Closed That's a lot to take, in but very helpful information! I appreciate the time you took to type that out :)

Thanks everybody for the feedback! Seems the general consensus is "yes" to major appliances (fridge, stove, microwave) and "it depends" for stuff like wash/dry

@Will Dixon good tips Will! I was talking with my Dad about this last night (he's also an accountant) and he was telling me the various expenses that are tax deductible. But didn't get too deep into depreciation. That's some useful info.

So if you're CF $500/mo and depreciation is only $400/mo, you'll be taxed on...$600? Or do I have my math incorrect?

@Ed Matson can money for CapEx be set aside (ie $250 per month) pretax as a business expense?

@Brian Adams income tax from rental income

Do you account for tax when you analyze a deal?

Do you usually include appliances when renting properties to tenants, or is it an expectation that they buy their own?