All Forum Posts by: Dan Schwartz

Aroldo, I have an Excel sheet that does all of that. I'd be happy to send it to you and walk you through it. We are a music family as well (my wife just earned her PhD in Music Education, and I have a composition degree) that recently started in real estate (2012). How do we message each other? I'm new to this interface. Can someone help us connect? Dan

Did you close the FHA loan back when they waived PMI for 15 year terms? If so, awesome! If I were in your shoes, I would be OK with little to no cash flow on that property in exchange for allowing a renter to pay off that loan. $6000+ per year in principal pay down is nothing to sneeze at.....so long as you aren't in need of the immediate cash.

I use Landlordlocks. The keys are hard to copy at local shops, the cylinders swap out in seconds, and I LOVE LOVE LOVE having a master key! They just need to make some more fashionable locks for SFHs.

Re: Mortgage Brokers… I'm increasingly of the feeling that they aren't "brokers" out "shopping" your loan anymore (I haven't been around long enough to know if that was ever actually the case). Everyone is pretty much writing to the same standards and selling the mortgage to whichever institution is buying at that time. Am I wrong? I might be. But I don't think so.

My understanding is that the IRS treats all sales as if depreciation had been taken, whether or not the taxpayer actually claimed the depreciation. Check with a CPA.