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19 May 2022 | 4 replies
You can absolutely do it and I would recommend you get 2-4 units or at minimum a basement to finish out as a separate area.
7 April 2020 | 19 replies
I'm assuming you are renting to them as three separate individuals, and not a group of three (ie 3 leases, not 1 lease).
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5 April 2020 | 7 replies
Also in the Agreement they charge me 1% extra just to keep the place clean and on top of that I charged separately for that.
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5 April 2020 | 1 reply
I am not sure what you mean by a passive investor taking depreciation.When the partnership sells the asset, they will carry out the capital gain, and they should separately report any unrecaptured 1250 gain you have - yes that is taxed max 25%.
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5 April 2020 | 2 replies
I have house and I paid all mortgage payments but in another state than California and own by my LLC to separate liabilities.
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7 April 2020 | 5 replies
I was buying them with a commercial loan and the total value of all the buildings isn't substantial enough to make sense opening a separate LLC for each property.
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16 April 2021 | 10 replies
As you may know, each property has a separate column where we can deduct the property's expenses like: Mortgage Interest paid, Taxes and Repairs.Under what expense would we deduct the cost of a new laptop?
13 April 2020 | 13 replies
Without that, he has already known 2 issues with the 3 rooms: missing fire block, wrong insulation, wrong heat duct (they open it from the existing duct that is used for the first floor – to get heat in the basement, it is wrong, it needs to have a separate duct).And only after removing all the drywall and ceiling, our builder will be able to tell us if there is anything more to be fixed to bring it up to code.We finally have the certificate of occupancy for the entire basement today - after 8 months.
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9 April 2020 | 0 replies
We meet all the requirements listed in terms of hours, separate books, etc...
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11 April 2020 | 8 replies
The idea would be to then rent out the portion we move out of, so that there are two separate tenants in two separate units.