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27 January 2025 | 13 replies
Is there really no way to hold shameless tenants accountable?
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21 January 2025 | 0 replies
Instead of their cash sitting in a savings account, they decided it would be a better investment to earn 3% on their money instead of .03% in the bank.
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26 January 2025 | 3 replies
Make sure to account for property taxes, insurance, and any HOA fees, as those can vary significantly in different markets and impact your cash flow.
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27 January 2025 | 6 replies
@James Boreno You’ll likely owe taxes, but don’t forget to account for your adjusted cost basis, which factors in the original purchase price, depreciation over 10 years, and any capital improvements.
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12 February 2025 | 19 replies
Security deposits have to be held in an escrow account disclosed to the real estate commission which requires a yearly report and all leases need to disclose your license information.
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20 January 2025 | 4 replies
However, after accounting for long-term capital gains tax and other expenses, you would be left with $150k which is important to budget and account for.
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17 January 2025 | 24 replies
I reconcile our trust account each month in about ½ an hour.
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24 January 2025 | 10 replies
It forces me to call VRBO to reset the account but luckily they are easy to get a hold of and fix.
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25 January 2025 | 7 replies
Holds the contractor accountable.
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4 February 2025 | 17 replies
For example we pay our own income taxes, broker splits and all of our other expenses directly out of what we make including required E&O insurance, MLS dues, licensing fees, Board of Realtor dues, continuing education costs, marketing, advertising, office fees/rent, transaction coordinator/ assistant fees, health insurance, car insurance and maintenance, gas, tires, software, retirement fund, etc.We are not W2 employees with payroll taxes already taken out of our paychecks, company-paid health insurance and matching retirement account plus a guarantee of at least 40 hours paid work per week, sick pay, paid vacation… none of that.So if you’re thinking you’ll be able to pay an hourly wage typical of a W2 hourly employee like $50-85/hr… that’s definitely not going to work.