All Forum Posts by: Frank Gucciardo

My credit union wants 20-25% down and are only doing commercial loans. No free ride, you’ll need cash, seller finance, or investors. Also, what do mean when you say you want to take advantage of tax benefits?

All of my tenants pay via Cozy.co. They have auto pay setup and it flows right into my account a few days after the payment is made. No problems, knock on wood.

I never understood why that makes a difference. It’s not like the body is still laying there.

Is the property on town sewer and water? If not, you may need to increase the septic to handle two family, per your county health dept codes. I ran into this with a SFR I was looking to convert into a duplex. The cost to upgrade the septic threw the numbers off.

Eric, zoning it commercial versus residential has nothing to do with what you can collect for rent. If a comparable two bed is renting for 1000 in your area then it will rent for 1000 no matter the zoning. Tenants don’t know, or care, how the property is zoned.

Take a loan against your 401k. Tax free and you are paying yourself back. Also, accelerated depreciation would only apply towards the revenue from the rental and not your money withdrawn from the 401k. I’m definitely not an accountant so could be wrong about that.

I’m there. What’s the date John?

I use a combo of Rentometer and searches for comparable rentals in CL, Zillow, etc.

Are your rents at market value? Can you grieve the property taxes to lower your payments? Is it in an area that's appreciating? Thinking of ways to squeeze some flow out of it.

Thanks Deanna,

Same advice my lawyer game me regarding the deceased's belongings.