All Forum Posts by: Scott Gadea

@Kevork Artinian

Thank you very much!

I’m in CA, and I’m trying to figure out the CPI for my area so I know how much I can raise the rent. I know I can do 5% plus the CPI, but I have no idea how to figure that out for my area. Any advice? I’m in kern county, city is Ridgecrest, CA.

Just closed on a 4plex. My 1st Multi unit! I’m super excited about that. I’m trying to figure out how do people come up with funding if they don’t have any saved up for their next deal? I’m in CA, so property values are higher here then in out parts of the US. It could take me a few years to save up for my next deal. So how do I speed up the process to buy my next deal? 

@Paul DeSilva

I’m in contract for a 4 plex, and schedule to close on the 28th. I’m super excited, a little

Nervous with the news, but to be honest I feel like I’m in it for the long haul, so it doesn’t matter.

This is my 3rd property, but My 1st multiunit property!

@Michael Plaks

Oh gotcha. Flew right over my head. I just wanted to see if there’s a way to write off a truck, because I no longer able to use my old truck. It’s done. So I was trying to see if it were possible to write off a new truck. But I realize that’s not possible. I just have a hard time justifying buying a new truck. Truck are just way too expensive. I would much rather spend that type of money buying another property. But I just feel that I’m back up against a wall, needing a truck. I have a little side Business hauling dump trailers to people, and renting them out so I need a truck for that. But the business is so small that it’s not much money, or how I make a living. It’s just a little extra money in my pocket. 

I don’t want to spend the money for a new truck. I haven’t had a car payment in a long time. Any advise?

@Michael Plaks

I’m not sure I follow what you mean by “Copter”?

I owe 2 rental properties, (5 doors), in California. The 1st property is a single family home which is about 5 miles away from where I live. The 2nd property is a 4plex which is about 140 miles away from where I live.

My question is, am I able to buy a truck, and be able to write that truck off?

I need to buy a truck because my old one is done. It’s too old. It doesn’t make it to the 4plex. So I need to get a new truck. But trying to figure out if I get a new truck, will I be able to use that as a tax deduction?

@Jon Schwartz

That’s is great advice, didn’t even think of that! I will definitely keep them on month to month then!

This property is a 4plex, I need to raise their rents, they have been long term tenants, and their rents are way below market rents.

Thank you very much for that solid advice!!

I wanted to know how to go about renewing my tenants lease for another 12 month in CA?