Dean Letfus
Depreciation on Insurance Payout
We have just made our first claim after major water damage in a rental. The insurance company deducted nearly 6K off the payout for depreciation? This makes no sense to us and we have never heard of it before. Is th...
Jeremy Cagle
Owner financed sale agreement
I inherited my dads house when he passed away. It is not worth much at all maybe 10,000. I work as a nurse and I knew this lady who needed help. I wrote up an owner financed sale agreement and disclosed everything und...
Sam Alex
calculating cashflow - is this correct
Hi,I've been trying to calculate the cash flow on my rental (actually my previous residence but had to rent out as i couldn't sell so not really planned), but have found it a little overwhelming. Could someone review ...
Savannah Lewison
Please Help me analyze this deal
Hey all! This is an interesting property with 2 one bedroom apartments and then 3 commercial spaces on the bottom. The rental income number is conservative. It only take into account the current commercial rent which ...
Jesse S.
Condo conversion or Rental income
First let me start by apologizing for not searching before posting.I have a test tomorrow on Cloud engineering and didn’t have time to search... yet I am here posting.My question is based on what it cost to buy multi ...
Don Jackson
Getting out of PM contract
I have been with a PM in North Carolina for 4 years. He got me sued a few months ago by making a mistake that caused the tenant to get a lawyer and sue me. The PM informed me that I needed to get a lawyer to defend my...
Jason Kenney
Calculating Cash-on-Cash for BRRRRs
Can anyone provide any guidance on calculating the cash-on-cash for a BRRRR? If the property generates no cash flow until after the refinance, is it correct to use the 'Cash-out-Refi Amount' as essentially the cash i...
Patrick Gilbert
Real Estate Depreciation
So I understand the concept of depreciation - appreciating asset that degrades (“depreciates”) over 27.5 years so you get to take a loss on taxes. My question is: how is that depreciation number determined, specifical...
Daniel Bryant
Bought a Residential property and rezoned to commercial. Question..
My wife and I bought a residential property in the outskirts of Columbus OH in a beautiful neighborhood. It's 1800 sf on a 1.2 acre of land. We purchased it for the purpose of rezoning to commercial and expand our exi...
William Allen
Naming IRA LLC
Any gotchas when setting up your IRA LLC when it comes to naming the entity? The answer from the company I am using is "you can choose the name of the LLC." I would suspect it would need to include my name followed ...