Justine Scheuher
House hack: Pros and cons of reporting rent
Hey! Just curious what everyone is doing/has done in the past with rent. Did you file the income on your tax returns? I’ve been house hacking for 1.5 years and have never reported it. After talking with a bank..I now...
Jasper Sawyer
Rental Income/Expense Tracker
I currently have a rental property and I am tracking my expenses and income on a spreadsheet. Can someone please share a basic spreadsheet template with me for tracking these expenses, etc. I would like to compare i...
Scott Dirksen
Carpet vs laminate flooting
I just had a tenant move out and I have carpeting in 2 bedrooms that needs to be replace. Is it better to keep replacing carpet or put something that looks like hardwood flooring. I would think the flooring would last...
Andre House
Paying the Yearly Interest fee on Security Deposit.
Are there other options to charge a Move in and Move out fee versus charging a security deposit and then paying the interest fee on the deposit.
Elena T.
First Eviction Completed - FINALLY
Just wanted to share in my elation - it's been a long few months!I started the eviction process on my tenant the last week of January, and as of TODAY, I have my house back! The eviction process is the worst process I...
Erik Sherburne
Advantage/Disadvantage to owning properties with the same HOA
For those that invest in condos/town homes any opinions of the advantages or disadvantages of owning multiple properties in the same HOA? I have two now and looking at a third. I have two others in different associa...
Grant Wieczorek
Buying a property for cash vs assuming a loan
I have come across a few properties where one would assume a loan as opposed to buying the property outright for cash and putting new debt on it. My attorney said this is a much easier process. Are there significant...
Account Closed
Our first deal - 2-family duplex
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Rochester.
Purchase price: $81,000
Cash invested: $10,000
Two-family house that needed remodeling. One of us (not me) i...
Josh Pryor
Seller Financing Documents
Seller financing looks like one of many creative strategies with REI, however, I do not fully understand this. Do I need a lawyer? How do I document this? How do I pitch this to a potential seller? ANY info is helpful...
Alec Jacobs
What bank account should I use for my rental property?
I'm looking to fill my unit of mine with a tenant and I was wondering what sort of bank account I should use?
I'm assuming that a business account would work but I'm sure there is some nuance and tips that I don't kn...