Paul C.
Insurance Tax Deduction
I've been reading IRS Publication 527 to better understand the tax accounting for rental properties. I'm not sure how to interpret this statement about insurance:
"Insurance premiums paid in advance. ...
Carlson Driver
Are expenses on short term rentals tax deductible
Say if we had a short term rental in Hawaii and were using a property manager to manage it for us which cost us ~$200/month. And we had to replace a dishwasher for $500 in 2021. Would the $2400 ($200 * 12) + $500 = $2...
Philip Klinck
Open marketing and what you get.
So I assume when you market openly to groups of homeowners you will get lots of responses that might not fit your criteria for wholesaling, Subject to, etc. But how many of you have your RE license and flip them to th...
Jarrod Ochsenbein
Started with a Co-living house Jan 1 2024. Filled 8 rooms in 12 days on Padsplit!
I don't post much, but had to post my January results doing a rent by room model for one month. I bought a 4 bedroom and turned it into an 8 bedroom. It went live and we filled it in 12 days. I had planned on 3 month...
Jose Falconett
What interest rate do you assume sellers have on their mortgage?
For purposes of an investor doing there due diligence and also for situation where a seller has no clue what they owe, interest rate, monthly payment amount etc.Since mortgage notes recorded in the public records does...
Wes Brumit
Veterans Land Board, Foreclosed Land Sales
I have an opportunity as a vet to purchase raw land from the Texas VLB before the tracts are offered to the general public. I was wondering if there was anyone else doing this? What do you do with the land? Is it feas...
Shawn H.
Section 179 Vehicle Depreciation
If I purchase a 'used' truck (6000#+ GVWR, extended cab, short bed) this year, can I deduct the entire purchase amount on this years taxes? Purchase cost will be less than $25,000. The vehicle will be used 75-100% fo...
Courtney Nguyen
Need to install a Do Not Block Driveway to entrance of parking
Hi all,So during traffic hours we get lots of cars stopping blocking the entrance to our parking lot. One of (we have a total of 9) tenants complained that it affects his business and asked us to install a sign that ...
Brandon Craig
Tax implications for owner financing
Hi all. I was wondering if someone could explain the tax implications for both sides of an owner financing deal for a rental property? I am just starting to research this financing strategy and I'm wondering how muc...
Caroline Gerardo
Mortgage Events This Week
Couple things in mortgage news:
NPR ran a story this week about #veterans not getting the forbearance promises made and they are in foreclosure.
Eight days later the VA halted, stopped foreclosures for #VA loans unt...