Mark Greathouse
Cap Ex and other Expenses
When getting your first deal (lets call is a BRRRR). When should you start putting money away for the CAP EX and other expenditures? It seems like it is a dedication from rental cost, but what if reno’s are taking lon...
Ben Wilson
Accounting for Chicago Heating Expenses
I'm looking to purchase and live in a small multi-unit property in Chicago, and I would be interested in gaining some input on how to estimate and account for the expense of heating in the winter. Obviously this will...
Mark Beekman
Operating Expenses Estimate Too High?
When I find a promising multi-unit rental property, I usually assume that 50% of the gross rents is what I'll have after operating expenses to pay my mortgage. The listing sheets have a breakdown of the operating expe...
Eric Belgau
Professional Services as an Expense?
My keyword settings keep me seeing forum posts about LLCs. Inevitably, discussions of LLCs (and the constellation of issues related to them) reinforce the need to work with professionals: attorneys and CPAs espec...
Sam R.
Verification of income and expenses
What kind of paperwork does your lender request in order to verify the income and expenses of a commercial residential property? Leases? Utility bills? Tax returns of the seller?
Vincent Parello
Analyzing Rental expenses Illinois, Chicago
Hey everyone,I had a question about analyzing rentals, I see people add the expense of Maintenance, Property manager, and vacancy along with others. And I have learned that people use a percentage of the rent to figur...
Jeff Pierce
Purchasing 2nd More Expensive Property
New investor. Bought 1st property for cash $35K. Appraised at $60K. In the middle of rehabbing it. Opportunity to purchase 2nd, more expensive property. My girlfriend and her brother are both owners (Power of Attorney...
Jose Corbera
Why are mortgages so expensive?
Hi All,I'm about to purchase my first home with the intent to rent it out in due time. The cost of the home is 225k with 3.5% down. My monthly principal and interest is 1054.72, but when including hoa fees and the oth...
Brenda Budzinski
Vehicle expense vs. mileage rate
What are the pros and cons of vehicle expenses? Ive read there are two different ways to write off this expense. Actual expenses like car value depreciation plus insurance, gas, repairs, oil changes or the other opt...
Nikki Miraa
L/O in Expensive neighborhoods
Hi,
I am wondering what other people use as a business model to structure deals on L/O in areas where the monthly rent does not cover a typical mortgage.
Thank you and best regards,
N.