All Forum Posts by: Tyler England

Its not that i want to spy on them its more so of a deterrent or if something goes wrong ill be able to take a look and hand it to the police. I also currently get a slight discount on my insurance for cameras on my personal property. Im guessing it would be the same on an investment property.

Wasn't aware on the mileage... ill have to start keeping track of that. I have been keeping detailed books this year using Stessa. I heard about it on the podcast and i like it so far. I bought the house last year and i learned my lesson when it came time to do my taxes.

Im about to buy a 2nd property with plans of expanding further. Im going to be setting up a business account to separate my personal expenses. If i were to buy a truck to help with the business im building but still use it for personal use can i partially claim it during taxes?

Also how does tax season work once i have a business account? Will i receive a separate tax return or will it be bundled with my other taxes? The business account is going to be set up with my social security number.

I want to have a security camera system in place at my investment property. Does anyone have any recommendations on the best way of doing this? I want to be able to access it from home or my phone but the issue there would be the cameras needing internet access.

Thanks for the replies everyone! With all things considered i decided to keep the property. It was tough to turn down that kind of money but i believe the house is going to be a great investment!

When i move out the cashflow will be about $650 a month which is a 23.73% CASH ON CASH ROI. Ill be house hacking it initially so ill be slightly negative on it but ill be making up the difference with my current 3 family that will be fully rented.

I've seen some 4 family's around the same  amount that this 3 family is going for but the units are much smaller. I found this on the mls. We were thinking that maybe its a developer but it doesn't seem like the right area for one to come in. They'd have to buy 2 other houses to be able to do anything with the land.

Hey everyone I have an interesting situation. I recently placed an offer on my 2nd 3 family and I was planning on moving into it since it has a really nice 4 bedroom unit. The offer was accepted which was great news and I’ve since gotten everything in motion for the closing date on June 28th.

The interesting part is, I just got off the phone with my agent and he said there’s another interested buyer. They want to give me 20k in cash to back away from the deal and they also plan to pay both agents their commissions so they don’t miss out on the work they put in. Would I be crazy to turn this guy down? It really makes me think I found a good investment property and a place I could call home for the next couple of years.

The appraisal is set for tomorrow so we’ll see what they say it’s worth but I’m buying it for 420k.

Has anyone heard of this before? All the people I use to seek advice have never heard of this situation before.

Any advice would be great!