I live in one side and rent the other, what is the best way to set-up my insurance? My agent is currently saying to push my homeowners insurance liability up to $500k and add a $1m umbrella. Is this the best set-up? I...
I recently did a cash out refi on an investment property to pay off the line of credit I had used for the downpayment on said property.I have about $5k in funds left over, and I'm trying to figure out what to do with ...
Looking for some Specifications I should give to my insurance agent when I am excepting proposals for my rental property, a.k.a. landlord, insurance. Any info on limits and deductibles would be great!
I am using quicken for real estate to handle all my finances. I am buying my first property, and am trying to categorize all the expenses. So here is how I understand it.
The down payment can not be written off.
All o...
Hello. I am wondering how everyone deducts their expenses when offers fall through such as wire fees when they do not have ownership of that property for tax purposes.
Hello all. I'm looking into purchasing our 3rd rental property and hoping to get some help specifically around the best way to maximize deductions. Since I'm not able to deduct our initial deposit on our investment lo...
I am looking at a property to buy and hold where the taxes are quite high. Over $9000 a year in NY. As such, everytime I run my numbers, I get negatives in cash flow due to the inability to get around the tax expense....
I am sure this was probably answered somewhere on this forum, but I was unable to find it.I took out a HELOC for $51K, and have payed IO payment on it during all of 2018. Not sure exactly what I used this money for, s...
Hello,
I am wondering if there are any circumstances in which i can expense in the current year the purchase and installation of new LVP flooring that will be a floating floor? More specifically,
1. Are there any c...
Hi there!
My wife and I are in the process of putting our first property up for rent. We are currently shopping around for the insurance that best suits our needs, however, we have quotes ranging from $600-1600. Each...