All Forum Posts by: Thomas Graham

Brandon Maughan , that is one way to take something positive out of the experience! The only rental we have we put 20% down on as required by the bank. I know there are more creative financing ways but right now I like the 20% down plan as it ensures we have quite a bit of equity in the homes, etc. What do you use to advertise? We used Craigslist, Facebook, and Zillow when we initially rented it. Just curious if I'm missing any other avenues.

Brandon Maughan Welcome! How have you liked being a landlord so far? Any idea how many units you'd like to own eventually? I currently only have one rental but am looking forward to grabbing another soon. I prefer rentals close to my area in SW OKC as I'm familiar with the area/trends.

Natalie Kolodij I currently plan to go the paper route unless there is another cheap/free alternative. I originally set my spreadsheets up to match the Schedule C so I'm hoping for a pretty straight forward return.

I made my first purchase this year and plan on doing my own taxes. I've historically done them using Turbotax but believe it is about time I handled them completely myself. I'm a CPA but never been in tax. I still have a basic understanding given college classes and studying for the exam.

Brian Tran I think OKC is doing alright. Unemployment is up a tick or two due to lower O&G prices, etc. Boeing moved in a few years back. Housing and rental markets seem steady.

No need to set up a separate entity. How much is the going bookkeeping rate if you don't mind me asking?

Jimmy Martz I'm potentially interested. PM me and we could go over the details. I'm an accountant by trade and do have a CPA license although I work in the private sector rather than in public. I've recently started investing myself.

Deborah B. , he states that insurance was over half of her $1200 bill. Something isn't right with that picture. I do agree that taxes/insurance are pretty comparable.

Alexander Ray To answer your question though. 1) Avoid making claims on your insurance policy. 2) Shop around for the best rate (assuming comparable insurance details). 3) Shop regularly. It's common that your rates will increase substantially 10+% year over year. Switching companies is normally pretty easy.

Alexander Ray , that insurance cost seems way too high. I'd assume it wasn't accurate or that she must have crazy claim history. I live in SW OKC and pay about $100/month in insurance on my primary worth about $160k. We have one rental and pay about $60-$70/month for a rental in Moore, OK worth about $70-80k.