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13 June 2013 | 24 replies
I must go check on this again, but I believe we are legally required to accept cash as payment {coins excluded}.
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6 January 2017 | 45 replies
In our coin-op laundry at our 8-plex, we post instructions about cleaning the lint filter before/after each load in the dryer, but I haven't emphasized that with our tenants in units with w/d hookups where they supply their own appliances.
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2 February 2016 | 2 replies
This includes the water used in our coin-op laundry and there are no W/D hook ups in the units.
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10 October 2016 | 15 replies
Last March, this building's gas bill was $725 vs $250 for the other building.My property manager has checked for leaks, but the daily swings make leaks unlikely.The 3rd party coin-op laundry in the basement is usually broken so I'm thinking some the spikes could be due to washing in the sink or bathtub.
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19 November 2013 | 23 replies
Once you add depreciation of $5,800 you now have total expenses of $18,300 so you will have a loss of the property and not be required to pay any taxes and in fact lower your taxable income by $300.The other side of this depreciation coin is that each year your cost basis effectively drops that $5,818 from that $200,000 that you purchased it for.
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3 January 2017 | 31 replies
.: On the 10% exception chart.. the Yes's mean it is not subject to the 10% penaltyWith regards to titling of the property:(1) Self Directed IRA: [Name of Custodian] FBO [Account Owner Name] [Type of IRA](2) LLC: [Name of LLC]The term Checkbook IRA LLC has been coined by a few folks in the industry, which generally means that the IRA is the single member of an LLC, which carries out business, including holding of real estate.With regards to any 401K (including Solo 401k), there are two primary buckets (Employee and Employer).
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18 July 2016 | 22 replies
I have set up income items for rent, late fees, damage charges, laundry income from the coin-ops.
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18 February 2016 | 31 replies
Of course, on the other side of that coin, I'd guess that such markets are highly sensitive to the economy, since people don't go on vacation as much during a recession.
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12 March 2018 | 7 replies
The other approach we typically see is all of it lumped together as one property, coin toss if the CPA calls it 2 or 4 when it's majority residential, and I've never checked if they were doing 27.5 or 39.
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5 September 2019 | 57 replies
Also tough to blame the marketer because well thats not how you sell the product not by starting off by telling people your life might get turned upside down for a while once every few years and your 15% - 20% return could have as much volatility as my crypto investments if something goes wrong or your property manager has a hiccup.