All Forum Posts by: Patrick Orah

@Laura Marks interesting… I didn’t think this type of service was available. I can see your point on how it can be more expensive. I figured all PM companies mark up on the vendor bills anyway.  Thanks for your response. 

@Phong Thanh Ngo

Yes I have looked at thumbtack and continue to look for contractors that meet my need. I once relied solely on referrals but it has been hard to find contractors to consistently service my property especially if the work does not meet a big enough scope. I will keep searching. Thanks for your response. 

@Theresa Harris

Finding a handyman/woman has been my biggest issue. I thought about going the route of building my own team of maintenance people but I am having trouble in that department. 

@Nathan Gesner

Thanks for your input. I thought it was a reach to think that.

@Theresa Harris

Thank you for your response. I always wondered if there are PM companies that offer  a-la-cart services. For instance at one of my properties, I have a duplex, and I have a handle on rent collection and other services but I need most of my help with maintenance calls. 

@Chris Seveney

That is wild. Yea I plan to read the fine print and I will take your advice and get with an attorney to review their agreement. Thanks for you for your response. 

Hello BP community, I am looking for a property management company to help me manage part of my portfolio and future properties. I have been managing my properties by myself up to this point and as you know it can be a lot. Does anyone know what to expect when discussing terms for property management? 

@Aaron Zimmerman thanks for the clarification.

@Ashish Acharya thank you so much for your response. So one question I have, if understand you response on the purchase side, nothing from the purchase is deductible. So, what do you mean by capitalized?

Hello BP community, I am looking for advice confirming what I think I know about tax advantages with rental income and help filling the gaps on some of the tax advantages/strategies that I may be missing.

To begin, I believe the rental income counts as regular income (correct me if I am wrong).

What I know already about tax liability reduction strategies are (correct me where I am wrong):

• Mortgage interest
• Mortgage Insurance (PMI if applicable)
• Property Insurance
• Property taxes
• Property depreciation
• Property HOA (if applicable)
• Property capital and maintenance expenses

Questions that I have about tax reduction or write-offs:

• Can we use the debt (mortgage payment) as a write-off? In other words, if I have a principle and interest payment of $850 per month, can I use that to reduce the tax liability on a rental income of $1,800 per month?
• If the mortgage is higher than the rental income, can I write-off the loss?

Is there anything else, that may be common knowledge to the community, on what we can use to reduce our tax burden with rental income properties?

Are these tax advantages different between residential and apartment building investing?

Thanks in advance for your input.