All Forum Posts by: Shawn D.

There is a property (3 family) I really want but I just purchased a multifamily and probably wouldn't get approved for another loan. It is for sale by owner and he owns the property outright. How can I ask the seller for seller financing?

Natalie Kolodij I gave in and bought the truck. Thanks for all the information

Linda Weygant Natalie Kolodij so I would not be able to write off the truck unless I open up an LLC. I see opening an LLC for a property could be a problem. This property is not undergoing major construction but I do want to fix the driveway and landscaping. Buying a truck would just be an expense at this point and provide no tax benefit? I would rather not buy one then and just rent a truck. Please let me know.

Increase net worth

Bob B. I am not setting up an LLC yet as I have no knowledge about the subject yet....I spoke to an accountant he said he would great back to me. In the meantime I thought I would ask BP

Alex Deacon I did not create an LLC as of yet. I was planning on creating one after I purchased my second rental property. Would I still be able to write it off?

I need/want a pickup truck and was wondering if I would be able to write it off as an expense for the rental property. I own a 2 family and would use it mostly for work around the house. I would like to mention I live on one side of the unit. Thanks for your time.

Hello all, I have a pretty generic lease form that covers must of the basic info. What are some other things I should add to the lease agreement? Thank you!

I just closed on my first property today... I have the tenants security and last months rent. It is a two family I will be living on one side. I have his lease documents as well and it all looks legitimate. Not sure if I should add anything to it. Right now he is paying 1st of every month. And pays electric and heating on his own. I was planning on introducing myself today. How should this be done? Moving forward what is the best way to collect the rent?

Thank you both Todd Plambeck and Robert P. . I will ask the current owner if any lease is in place. If I remember correctly it was a family member so I'm pretty sure there wasn't one. Thanks again.