All Forum Posts by: Tim Watcke

You can do what ever you want with it or just stick in a checking account. Doesn't matter. Mortgage interest on a rental property is 100% tax deductible.

I had a tenant ask if they could install a "soft" hot tub in the basement of the 5-plex where they rented from me. You know, next to the coin op laundry. After I picked myself up off the floor from laughter, I simply told them "sorry, checked with insurance agent and they said no way" Good cop (me)/bad cop (ins agent). Nothing good will come to you by allowing them to do this.

I use quick books. Each flip property is set up as an account. Net Purchase price and every receipt,check, bill etc is allocated to the correct account (house) when entered in quick books. This provides real time accounting of basis in the property. Flipping 30 plus homes a year and this has been working well for a long time.

Just curious what made you think the price was too high? Did you base your expectations on a realistic number ? What were the details / scope and maybe someone could chime in ? Just a thought

Salt Lake City A 4-5% B 5-6% C 6-8%

I wouldn't do it. Too many scammers on line. Set up an in person meeting. That info is the holy grail for identity theft

I have been using cozy for almost a year. I love it and am fine with the payment delay. I have over 15 tenants on it now. It works out really well for homes with several room mates , they each select the amount and pay their portion. Also a new feature added recently for billing one time items like utilities and other fees is great.

I have a building with similar unit make up and I have 2 -40 gallon water heaters run in series First one is on medium low, final one is on hotter temp. The redundancy means both heaters most likely won't fail at the same time, thus no "hot water emergency" calls Also 40 gallon water heaters are cheap and easy to move , purchase etc. The big water heaters are very expensive and not typically in stock at big box stores.

Hey, I am needing to dump my current guy for the last 15 years.    Long story... 

Looking for someone local to SLC area.   I have a lot of work for the right person.  Everything I do is on quickbooks. 

Any one have recommendations?  thanks in advance. 

Mark Nolan, who posted above, set mine up.  He did a great job, very reasonable fees and has personally answered all questions after it was set up (and paid for) very promptly.