All Forum Posts by: Sixto Moralez

@Nathan G. Thanks Nathan. I appreciate your input.

@Kayla Sharp. Thank you Kayla! I’ll definitely do this. All the water company can say is,”no.” I agree. They are good tenants and I want them to stay. I appreciate your advice and wish you well.

@Karl B. Thanks Karl. Wow!! I’ll have to look at the market next year on raising rents and, with election, who’s in the office. Sorry to hear about your tenant’s death. I appreciate your input.

@Steve K. Thank you Steve for your reply. I agree. I don’t want them to leave as they pay on time. I definitely will make it known to inform me of ANY repairs that are needed in the future before it gets catastrophic. I appreciate your advice.

@Kyle J. Thanks Kyle. The leak happened underneath the home at the kitchen. They didn’t deliberately cause the leak. They didn’t inform me until it was too late and 40+ gallons of hot water was underneath, causing the floors to warp.

Thanks for your reasons and I will definitely update my lease agreement wording to reflect you example. I wouldn’t be able to prove they knew about it other than their word against mine.

I appreciate your input.

@Paul De Luca. Thanks Paul. The only evidence I’ve got is the tenant saying the drawers in the kitchen felt wet and damp. Other than that I’ve got nothing. You’re right about plumbing needing repair at some point. Just wish they’d have told me sooner. Thank you for your time to reply. I appreciate it.

Hi BP Family,

I have good tenants in a home that for some reason didn't notify me of a potential water leak until a week after it had been leaking.  The tenant called and said no hot water for early morning shower, so I inspected with plumber same day.
Home is a pier and beam and has 3+ inches of water underneath.  This was the hot water line; therefore, the flooring is warped throughout the home.  
Question:  Is it reasonable to ask the tenants to pay for the plumbing leak since they didn't notify me within 24 hours of the leak?  The lease agreement states tenants negligence.  Any advice is appreciated. 

Thanks.
  

@Al Johnson Hi Al, did you get Align Foundation to do work on your property and what is your feedback? I have a property in Cleburne that needs attention. Thanks.

@Ashish Acharya

Thanks Ashish. My apologies for the long delay.

Hi BP,

My apologies if this has been answered in previous forums and if so, please point me in the direction.

Summary:

I have a used 2010 Toyota Tundra that I would like to transfer into my small business and depreciate 100% using section 179. There is no loan on it and it would be new to the small business.

Questions :

1. Can I use section 179 in this case?

2. Would the 100% be based on the retail value currently?

3. Is it more advantageous to skip section 179 and record mileage and depreciate over a time period?

If anyone wants to chat instead of type , I'm open for that as well.

Thanks,

Sixto