All Forum Posts by: Steve Maye

I have to relocate. I see no way I will breakeven if I sell my home. I am considering renting and using a property management group to take care of the property. The home is paid for, so renting will not impede my move. I have been looking to get in to rentals and see this as a possible way to do so.

What should I consider while making the decision to sell or rent.

I watch what the other countries are doing to address the government debt and I know that is coming our way. I want to be prepared.

Callapsed stock markets,devalued currency, and higher taxes are just a few thoughts of our future. I am nearing retirement. I have contributed heavily to my 401K and continue to also save on top of that. I don't want to see all that work squandered because our government has a spending problem.

What are you doing to protect yourself? Or what can I do to be protected from the government screwing up my retirement?

With all the news of goverment debt and the austerity measures being taken how does someone protect themselves from the US government from

Hi Matt,

Start-up costs- Now that is interesting. How do start-up costs vary as compared to repairs and improvements tax-wise ?

I understand now. I also need to get my rental hat on. I think in terms of my own home and more willing to ignore the higher cost of a total replacement.

Thanks for the explanation.

I have the cash reserves to replace them. It is not a problem to me to do it either way. Just don't fully understand the advantages of improving/depreciating vs. repairing/deducting. In fact, I am not quite sure what depreciation is doing for me in the long run.

Thanks for the reply, Amanda.

I see you are from Camas, WA. The company I work for does a lot of business with the paper mill in your town. Really small world.

I will read up on your link. Can you explain how, if at all, it is advantageous to have repairs as opposed to improvements? For instance electing to repair the windows as opposed to replacing.

I have wanted to get in to rentals for a while. Kept dragging my feet. Now I have to move and plan to rent out my current home.

Question- I planned to replace my front windows. Now I wonder if these could be claimed as repairs if a rental.

Can I replace these windows and claim as repairs as a deduction?

Does this get subtracted directly from the income I receive for rent?

I am still in the house. Can I do the repairs before a renter moves in?

I know this is an old post, but I would like to get more information.

Like the OP I have a lump sum and access to very low interest monies. I am looking for better returns than savings accounts and having more control than if I put it in the stock market.

It would also serve as a backup career if I lose my job....which appears likely in the next 1-3 years.