Morgan Gruelle
how do you track expenses you pay cash for?
I am wondering how I can account for cash expenses. I have a rental property that I did not have time to paint so I paid a friend cash to paint the rooms over the coarse of a few days. I am wondering how can I track t...
Sara Valentine
Colorado requirements for smoke and carbon monoxide alarms??
I am installing wireless, ten year lithium battery combo smoke and carbon monoxide alarms in my rentals. I do not want the hardwired combo (more expensive and complicated to install) - From what I've read, hardwiring ...
Ellie Narie
Who is allowed to claim rental income?
If an unmarried couple wants to buy or build a fourplex, should both of them be on the deed? Who would be allowed to claim the rental income? Let's say one spouse works and earns money, and the other spouse doesn't wo...
Fahadbin Alam
How much should you pay yourself?
So I got my rental property going and I don't know how much to pay myself.1. How much would would I pay myself? Would it be 50% after all the expenses are done and leave the other 50% so if something happens to the pr...
Monica Garguilo
Using mortgage pmt to determine cap rate
Hi - can somebody please explain why the mortgage expense is removed from the NOI when calculating the Cap rate? A mortgage pmt is a monthly expense, so if you account for it when you determine your NOI, why is it re...
Tony Tibbar
Mileage tax reduction
Currently mileage is 58ct/mile. A] Does that include everything (gas, repairs, etc)?B] Does the LLC need to own the truck to deduct this expense?--- If not who deducts the mileage? ------ B1] The LLC (and passes it on...
Bill J.
Multi Family & the 50% rule
Does the 50% "rule" have a sliding scale? Obviously an older property will require more repair and maintenance than a newer one would. Is it fair to assume for older properties I had better budget 50% of monthly incom...
Maria Vazquez
Advice on how to evaluate a fourplex
Hello Friends from BP,I'm a newbie investing, while looking at SFR, I came into this 2 Fourplexes. Could someone kindly advice me how do you evaluate them and what kind of information should I ask for? I ask the broke...
Antone JAmes
Deal or No Deal for a Triplex
Greetings,The deal (Triplex, 3-unit) VA financed loan (no money down!)purchase price- $400,000 @3.375%property tax- $1200 AnnualInsurance- $1000-1200 AnnualUtilities $3600 (water only) Annualother cost ($200) Annualva...
Richard McRae
Biggest Underwriting Mistakes Incurred by Novice Investors
I see many properties advertised these days with unrealistically low expense ratios. Inexperienced investors that are excited to make that first acquisition need to be aware of and understand how to accurately evalua...