All Forum Posts by: Andy Vasquez

FB market place is hands down the best place to find tenants right now. You can pre-screen potential applicates through the messaging as well. 

Less than enthusiastic?... pictures and price all that matters. If the listing is full of bad cell phone pics I'd take them down and get better photos. Set a high standard unless the location dictates otherwise. Rents have softened a bit in some of the major metros. Something to consider. 

I always list mine on Facebook Marketplace and always have great success

Hi All,

New to the game here. Really appreiate this community and everyone's never ending help.

I have been living in my current home for 3 years. I am renting out starting June 24. Is it safe to assume that the loan interest, taxes, and PMI are deducted from taxable income.

My mortage is $4200 per month. I found a renter for exactly 4200 per month. $1300 principle and the rest is interest, taxes, and PMI.

    1.    Is it fair to say that I would only be paying tax on the $1300?

    2.    For things such as repairing the garage door and pest control, do I subtract the cost from the Principle I recieve in rent ($1300) i.e, $1300 minus $30 (pest control) minus $40 (garage door sensor) = $1230 taxable income for that month?

 A couple of issues, Your rent is wayyyy too high, and given than every month your vacant costs you money, I’d probably want to be somewhere around 1k less just to get it moved (I’d have to run more specific comps but that’s my general sense d.c. is pretty soft atm) as others have mentioned pics aren’t great, credit score requirements are too high, three landlord references is too much and frankly many people especially in Columbia heights which tends to be younger may not have them, and one other side note your security deposit is both too high and illegal, security deposit cannot be more than 1st months rent. But the single biggest issue here by far is price.

@Andy Vasquez Looks nice! Geez rent is crazy in DC! 

In my opinion I'd remove or move photo #1 to the end. This needs to be the best interior photo you have which is the living room or kitchen; not a photo of outside landscaping. Photo #10 (vanity) is awkward. Nice bathroom but the photo angle is terrible. I'd replace it with another photo. From my experience 700 credit score limits a lot of applicates. Our properties are in C/B- class neighborhoods though. I'm sure it's different than downtown DC. You could lower to 650-680 and see what happens. Depends on you standards. 

FB market place is hands down the best place to find tenants right now. You can pre-screen potential applicates through the messaging as well. 

Less than enthusiastic?... pictures and price all that matters. If the listing is full of bad cell phone pics I'd take them down and get better photos. Set a high standard unless the location dictates otherwise. Rents have softened a bit in some of the major metros. Something to consider.