All Forum Posts by: Ryan Fox

I have a section 8 tenant in Missouri who is under a term lease that doesn't allow for pets unless I approve.  She went ahead and bought a cat.  I'm ok with her keeping it as long as she pays a pet deposit or pet rent.  How does this work with section 8?  Would section 8 have to approve an additional charge like that?  TIA!

@Alex Gunnerson- Thank you I will give that book a read.

@Alex Gunnerson- Understood, but my question is whether I can let the HSA grow for a number of years.  I wouldn't pay medical expenses out of the HSA, but I would save receipts covering all those years.  After a number of years, can I recoup the medical expenses out of the HSA?

The below article talks about the advantages of a health savings account.  One of the things they say is you can make contributions to the HSA and invest those amounts, but pay your medical bills with other funds.  Then, when you later have other expenses, such as college tuition, travel, ect., you can withdraw funds from the HSA as reimbursement for your past medical bills.  

Is this true?  I read IRS Pub. 969 and couldn't find it addressed that specifically.  Thanks in advance!

https://www.cnbc.com/2021/10/1...

@Edwin Wong- Did the neighbor cite a specific building code or did they just say it didn't meet the building code?  Did they provide you the results of the sound test in writing?

I'm able to take a significant number of passive losses on my rental properties.  However, I don't qualify as a Real Estate Professional.  Are there any investments I can make that can take advantage of these losses now?  

@Daniel Shafer- I bought my first rental properties from GC Realty back in 2017.  Wow, that was a really good decision.  Top notch property management.  I've requested inspections of the properties from time to time and I'm amazed how well they've held up.  If I ever have a question, I get an answer within 24 hours.  And it's not a BS answer like, "We''ll look into it," but actually a substantive answer that addresses the issue.  

What's perhaps most impressive about GC is their monthly statements are always accurate.  I've worked with many PM's in other markets and there are several who just can't seem to get that right.  

You were asking about the accuracy of their pro-formas.  Yes, their pro-formas, as I recall, are pretty accurate.  If you have a question on your pro forma, feel free to shoot it to me.  I think the properties I bought are pretty close to the one you're considering.  

Diversification is important.  Not to toot my own horn, but the income I've made from trading stock options has gone up significantly since the stock market started to fall this year.  I'm now using the income from that to fund renovations on my properties, instead of using debt.  

@Scott Mac- That's an interesting idea, but another story I was told about the property is the homeless were getting in there.  The door opens straight to outside.  There's only one door.  I'm afraid folks will break in. 

Thank you @Greg Scott!