All Forum Posts by: Ryan Allen

That's very exciting. Really nice job. Thank you for the write up

Allison,

I've got a septice on my property in Malta. You will also need to factor in pumping the septic tank. I have two septic tanks and it cost $240.75 to get it pumped. People recommend pumping it every 3-5 years. Plumbers have told me it will be apparent when it is full and needs to be pumped. I had to dig up the lid to access the tank and the septic company said they would charge an extra $50 to dig it up.

You will want to make sure nobody drives a vehicle on the leach field & septic tank and, as someone previously mentioned, include in the lease something about what can be flushed down. 

It would be important in your due diligence to determine when they were last pumped and to locate where the tanks in the ground are.

Another thing that is important is to learn how the septic flows out of the house. Part of my property is all gravity and another part uses a grinder/sump pump to pump it up into the tank. Just things to note. It cost me $1000 to replace a sump pump and the basement flooded with sewage when it broke. 

This all being said, I don't mind having the septic tanks. I wouldn't let a private septic system stop me from a property if everything else works well.

Hey Mike - thanks for setting this up. Looking forward to it

Ryan 

@Manasseh Arnold 

Thank you for your service. The market is very active right now, it's pretty crazy. 

I have not yet found a CPA to work with, I have a less than satisfactory experience with one so far. If you do find one, I'd be interested in hearing about one if you find one.

In regards to attorney's, that too I have thankfully not needed to use extensively to be able to make a recommendation.

Good luck with your search!

@Aaron K. Being from the area, taxes are high here.

@Manasseh Arnold I don't know why, but one thought that comes to mind is that they calculated the maximum monthly payments that you are eligible for and if the taxes come back higher than $6k, your taxes due each month would push your total monthly payment over their maximum.

Jean,

As previously mentioned you only need to own (1) share to receive a dividend, there is no minimum. Dividends are profit distributed to the shareholders(owners) of the company. 

Declaration date - the company's management will announce they are paying a dividend, the amount, when it will be paid, and the ex-dividend date. 

Ex-dividend date - Existing shareholders will receive the dividend. If you buy a share of this company after this date, you will not receive the dividend. If you sell your stock after this date, you will still receive the dividend.

Payment date - You will receive the dividend.

To determine how much in dividends the companies pay I would first look at what the company declares and what they've paid in the past. You can also use a stock screener and screen for dividend yield >0%. That will list companies that give you a dividend. Then you multiply the Dividend Yield by the stock price for the yearly dividend amount. Then divide that by 4 and that's what the quarterly dividend would be. 

Thanks for the tip - I'll need to look more carefully into this

@Michael Temple

I supply stove, fridge, dishwasher (I currently don’t have a dishwasher so I am learning how valuable they are). With that comes repairing/replacing those.

I try to avoid supplying a microwave. I have an above the stove one in one unit, but if that were to break then it’s quite costly. You could buy a cheap one that plugs into the wall, so I would prefer to offload that responsibility onto them.

Not providing a washer and dryer has helped me screen tenants. Again, I don’t want to be responsible to repair/replace these items. I’ve had snarky responses from tenants about not providing a washer or dryer (but there are hook ups), and it has helped me eliminate considering those applicants. If they complain about this or feel entitled enough to voice their concerns, I believe it helps me learn they would be a problem tenant.

@Peter Vander Ploeg

Hey Peter,

Thanks for gauging and gathering opinions. A few things off the top of my head where I could see it adding value.

1. Tax planning - how will the real estate investments I have impact my personal tax situation. If I spend more on CapEx or repairs, will that save me meet in taxes? What about combining it with IRA & 401k contributions. Strategies to play the least amount of taxes and how to combine real estate.

2. Not sure if this falls under CFP, but book keeping and performance metric calculation advice. Just general methods.

3. Tax strategies and Advantages for forming an LLC vs not.

Thanks for providing the content! Looking forward to reading it.

Thanks,

Ryan

@Ratan Khatri

Could you expand on how you were able to set this up and get the money out of the HSA?