Adrien Gael
Closing issues from buyer. 5 months delay. CRE financing
Good afternoon,I received an offer on 4 units in March. Buyer already purchased 100 units in the same complex 2 years ago. He really wanted my units because he wanted all the complex under his management so I decided ...
Justin C.
Tax question regarding receipt filing and record keeping best practices
Hi BP, I have 2 rentals that were acquired over the last 6 months... Property #1 closed Dec 2014 and was officially on the market May 1st 2015. My tenant just moved in. Property #2 closed mid Feb 2015 and should be...
Brian Harris
New property maintenance vs increase of basis
When I buy a brand new property and spend money making it rent ready, I'm not sure what to classify as maintenance vs adding to my cost basis. For example:* Getting new door locks* Getting a new garage door opener* La...
Matthew Hollister
Electric locks for commercial office building?
I just closed on a big commercial office building with a few businesses inside. Does anyone have any advice for switching from manual locks to electric locks? I will not be at the building everyday to lock it up and I...
Lacey A.
Depreciation of Windws in Prim. Residence converted into Rental
We lived in the SFH and replaced all of the original windows and sliding doors in October 2019 to improve energy efficiency. (They were 40+ yo) We moved out and converted the SFH into a rental in March 2021. On our ex...
David Mateer
Depreciable basis when converting residence to rental property
Hey everyone!Let me preface this post with the fact that I plan to talk with a CPA on all of this, but I like to be educated for conversations like this.
I purchased my house in 2012 for $185,000. I’ve been living in...
Account Closed
Day 1: 24 Unit Apartment Complex Deal Analysis near Austin
Hey Everyone, my goal is to analyze at least 1 MFH deal a day for the next 30 days. For Today's Deal, I am analyzing a 24 unit complex I found on Loop Net (Address: 11519 Pecan Creek Pky). Below are the details:Ask Pr...
Richard Brown
Just starting out need help and info
I have a place in Little Rock that I pay $1220 a month for the mortgage, and I still owe 25 years on it. Property Manager says I can get at least $1900 a month in rent on the open market and $1770 going Section 8 rout...
Nick Stango
How does the 1% rule work, before or after your deposit?
I'm looking at renal properties and I'm using the 1% rule to get a quick estimate on how much I should pay for a property according to what the rents go for in that area. It seems to be a little difficult to find a de...
Account Closed
How many months of interest/taxes can I deduct for my rental property?
Some details: I purchased a rental property in April; because it took a few months to complete all repairs it wasn't available for renting until September.
I have two questions:
1. I'm allowed to deduct mortgage int...