All Forum Posts by: Abdenour Achab

Let's say you found, on your own in a 3rd world country, a very bright you want to hire as a virtual assistant (or, more accurately, as a Virtual Vice President of Marketing), and who doesn't know about oDesk, eLance, etc. And let's say, for some reason, you don't want to introduce him to your 100,000 competitors looking to hire him, either pay him more or cause him to multi task and not be able to focus on the work you gave him.

How would you hire him directly ?
1) How would you pay him ? Does Paypal work internationally ? Any alternatives to Paypal (I would rather not use Paypal if I can help it) ? Hopefully something where you can automate weekly payments.
2) What software does he need to install on his computer so you can get screen shots every 10 minutes or less, the way it works with oDesk. The software needs to keep track of the time he spent on the job.

Age Now? 42
Age you want to retire? 100
Net Worth needed to retire? $1 million in today's dollars
Monthly Net Cashflow to retire? $10,000 in today's dollars

Hi Steven,

> Could any of those possibly be good rentals?

Most would be. But not for me. I live in California, and the houses are in Oklahoma County. Given the fact that California prices are now low, I would rather pull out my money from Oklahoma and invest it in California. An Oklahoma investor, who bought a house from me in Midwest City in Summer 2011, told me he might be interested in buying one or two (of the best two I have left - I have already sold 4) after he is done fixing one or two of the two houses he bought this year. He is keeping his buys as rentals.

Abdenour

Thanks to both Steves for the replies.

I acquired the property by foreclosing on a tax lien certificates. I am not normally in the business of dealing real estate. I am in the note business. But, from September 2010 to March 2011, I foreclosed on 8 properties, and, following advice from property manager/realtor, listed most of them for sale shortly after acquisition.

So I guess both of you agree that I should add it to the basis.

For my notes business, I use the Cash method of accounting (I believe).

I acquired a house in September 2010. I evicted the previous owner in December 2010. I paid the eviction costs in January 2011. I listed the house for sale in March 2011. I expect to sell the house in 2012.

The house is most likely a dealer property. Should I expense the eviction costs on my 2011 tax returns, or should I add them to the basis of the house ?

Thanks in advance,

Abdenour