All Forum Posts by: Travis Elliott

So I left my CPA's office today feeling a little down. I thought that I had some legal loopholes that would help my business out using Real Estate.

Here is the scenario: I have two commercial buildings. One houses my business and the other is empty. I wanted to rent the empty one to my business for $3500.00 a mo. $1500 would go to pay PITI and $2000.00 would go to me.

I can do this but there arent any real tax advantages on the 2000.00 portion

Mary B have you read any of his books?

I have not finished Robert Kiyosaki's book Unfair Advantage yet but I did get through the tax part.

For those of you that have read this book did you get much out of the book on how to save big time on taxes or on how to pay zero taxes like he talks about.

I did not get as much out of it as I had wished I had. He alludes to some things but never really showed how to do them.

Thoughts and Opinions?

I just bought a commercial building and I am about ready to rent it out for 2500 a month.

My question is what should I use for a yearly rent increase percentage? I was thinking of a five percent per year increase but then again that might be a lot.

Suggestions on how to handle this?

Thanks

Travis

Sean I sent you a PM

I would like to purchase a MHP in the near future but there arent any listed for sale near me. So my question is a simple one. How do you find MHP for sale when none are listed?

Thank you in advance

Travis

John Herd is EXPENSIVE!! He has a seventy one spot park in Butte Montana for 1,450,000. That is not a good deal.

A lot of good info here. Thanks everyone..

I bought the home for $55,000 and it will be listed for $ 159,000 if done properly.

I dont think that I want to take the wallpaper on anymore though. I may try to cut the loose parts off skim coat and paint. Unfortunately there will be seams showing but it is the easier way.

A friend of mine told me to take a Tec sprayer and spray drywall mud over the wall paper then just knock it down.

He did say that it wouldn't be a bad idea to use a tiger claw on it before I spray.

This might be the easiest idea yet.

Thoughts

Hi all.

I am buying another home soon and it has lots of wallpaper in it. It is on almost every wall in the house. The home was built in 1910 and is 4500 sf feet. The good thing is that the 1700 sf basement is unfinished the bad news is that there is still 2800 sf of the dreaded paper on the walls.

So the question is how in the hell do I remove the paper in a timely and easy fashion. Any thoughts or ideas would be much appreciated.

Thanks

Travis