
30 May 2023 | 9 replies
This will ultimately determine the type of gain flowing through (ordinary/capital or a mix)

30 May 2023 | 15 replies
Your responsibility is to fix everything that is broken through ordinary wear-and-tear so the tenant is getting what they paid for when they first moved in.

12 September 2014 | 60 replies
Each week I generally drive around the area to check out the exteriors of the properties to make sure the tenants are cutting their grass and there's nothing out of the ordinary to be concerned with (no signs on the door, etc).In the beginning of the month I head to the banks (I work with 3 of them) and also deposit checks and do bookkeeping.I may take a nap in the middle of the day, watch some "Pawn Stars" (to learn the art of negotiation) or go grocery shopping or other errands.Some weekdays or weekends I will show properties if I'm renting them out.I will also gather lists of properties to view, and go check them out.Periodically I need to take a tenant call and call a contractor to get something repaired.I would say I probably work on average 2-3 hours a day, sometimes more, sometimes less.

16 October 2020 | 2 replies
Roofs, siding, windows, doors, flooring, appliances, paint, railings, patios, lighting, heating elements, water tanks, bathroom fixtures, kitchen cabinets, and counters.

31 May 2023 | 9 replies
If I did a SOLO401K Roll-over of say 100K that would normally be counted as Ordinary Income Tax (I think).

4 November 2009 | 20 replies
100 amps is fine for 1200SF house unless something out of the ordinary is there. spend the money somewhere else

4 June 2023 | 21 replies
However, for ordinary folks like me who have to plan and work hard to gain FI at a reasonable age, @Joe Villeneuve's system is very effective and definitely makes the most use of the capital we have.Regarding the OP's question (@Sarah Jukes), I think speaking to a tax or financial adviser will really be hit or miss.

7 June 2023 | 7 replies
We're jumping into technicalities of depreciation too quick.The start of ALL tax deductions is in the phrase "ordinary and necessary."

31 July 2022 | 0 replies
We added a Patio, granite to every bathroom, upgraded kitchen, What was the outcome?

10 May 2023 | 1 reply
I plan on adding a paved patio to our home, which would count as a capital improvement.