All Forum Posts by: Scott Weaner

I don't see how or why lunch like that would be deductible.

I found this article today, which basically sums up all that is mentioned here:

http://www.johntreed.com/positive.html

I have no idea. As my sister will be getting the home, I guess that is her problem. Actually, I don't think the lack of a full garage is that big of an issue in some areas. The office is a very nice addition. It could be converted back quite easily.

when my parents bought their townhome 30 years ago, they converted the garage to an office. They left the garage doors exactly as is, and left about 7 feet of garage area which is now a great storage area. No need to put up a new outside wall. Great for lawnmowers, bikes, etc.

Alexis, remember, the rentals are MikeOH's job. His livelihood. Most could not take off months at a time from their job. Some use the rental investments as pure investments, instead of or in addition to their stocks, etc. If done right the returns can be much more than 6-7%. If done right the tenants are buying the property for you. No one will buy stock for you!

I think for many here it IS a business.

Jon, is it loan balance or balance compared to purchase price? Or is it balance compared with the appraisal value?

In other words, if, for some reason I put down 19%, would one need to only accumulate 1% more, or 20% of the remaining loan balance?

If you were going to boycott, it seems as if there is no one to buy gas from! I wonder if people would buy gas at a slight premium if they knew it came from non-enemy countries like Canada?

Conversely, if the lender then sold the property at a loss, they would not expect the previous owner to make up the difference.

Jon, is it the loan balance that must get below 80%, or does the equity need to get above 20%? Also, can't appreciation be considered in equity percentage?