All Forum Posts by: Pat Martin

How much does the ACH cost? Who are some good companies that take care of that? What happens if they have NSF do you get charged? Then on the deposit side... Do you give your account number to tenants? Are there any problems that can arise from that? If they deposit cash how do you know which tenant deposited the money?

thanks for the advice. I have charged a late fee before and I just asked for it through text. Just making sure that's correct. Also, if rent is late on the 5th does that mean in my mailbox or post marked by the 5th? If it means in my mailbox how would I prove that I did not receive it on the 5th if it comes on the 6th or 7th? Thanks!

How should I let me tenant know that they owe me a late fee? I am on a texting basis with all of my tenants but should I send them a letter? What happens if they don't pay it but continue to pay rent going forward? Thanks for the advice.

That is not true that you can not deduct expenses. What is limited is taking your passive loss from rentals and using it to reduce your earned income. If you make 100k or less you can write off $25k in losses per year. And for every $2 over 100k your 25k loss is reduced by $1. So once your income reaches $150k you can't take any loss.

Knoxville, TN

Gas, 50 Gallon, Licensed plumber $700

I know in Tennessee you can't charge a late fee until the 5th and it can't be more than 10% of rent. So you may want to check with your state to see if there are any stipulations.

Take a 100k loan at 5% for 30 yrs. Add $50 to your monthly payment and it pays off in 25.

Curious why you would make offers that are 180k different?

Crazy! Not very observant neighbors. How can you not see your neighbor in 3 years and not try to find out whats going on.

about why you need w9s

http://taxes.about.com/b/2008/01/27/whats-form-w-9.htm