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14 February 2025 | 4 replies
I asked AI and suggestions were to check government records and public records so I'll do that, but wanted to see if anyone here has other suggestions.
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10 February 2025 | 24 replies
@John BarryFirst and foremost, Section 8 is a protected class in Massachusetts, so you can not discriminate against any tenant that has it.As for the steps.1. list and show the unit as usual.2. validate all tenants the same way.3. if you go with a section 8 tenant, then they will have paperwork for you to complete/submit.4. section 8 will send out an inspector to check the unit, all common areas, the exterior and the basement (does not matter if they have access to it or not).5.
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23 January 2025 | 5 replies
Bonus if you do any of this in a Roth account.
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7 February 2025 | 4 replies
Here are a few suggestions on how you can maximize the wealth of information available: Check out the blogs and podcasts, or take advantage of the search feature (magnifying glass).
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18 February 2025 | 35 replies
Listings were published in a book and realtors kept all the keys in their office there were no lock box's you had to go to the listing brokers office and check out the keys.
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5 February 2025 | 4 replies
You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.Good luck.
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25 February 2025 | 5 replies
You'll want a PMC that will check on the property monthly or even weekly, to keep the college students obeying the rules.This management may cost a bit more, but is well worth it!
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24 February 2025 | 6 replies
Also, check out the Rental Property Association of Wisconsin. www.rpawi.org good networking with other investors and maybe even find a deal there.
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17 February 2025 | 5 replies
The home office deduction cannot increase your passive losses:You can only deduct home office expenses up to your net rental incomeIf your rentals are already showing a loss, the home office deduction won't helpExcess deductions carry forward to future yearsMust apply §280A limitations first, then passive loss rulesExample: 🔢Rental Income: $24,000Regular Rental Expenses: -$20,000Net Before Home Office: $4,000Home Office Expenses: $3,000 [using allocations, not the Simplified Method]Result: Can deduct full home officeCounter Example: 🔢Rental Income: $24,000Regular Rental Expenses: -$26,000Net Before Home Office: -$2,000 (Loss)Home Office Expenses: $3,000Result: No home office deduction this year (carries forward)Reality Check: 🤔Let's be honest - while technically you need to:Calculate net rental incomeApply §280A limitations [Consult your CPA on this!]
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15 February 2025 | 7 replies
I had to call multiple businesses looking up google reviews, check availability, get quotes then schedule.