All Forum Posts by: Arlan Potter

Pay off the car asap

What is the answer? VRBO used to be a sweet deal. $299/year, for a place on their website. Now it closer to $500 plus they steal a large fee from my guests and force me to use their 3% fees to get my money. And now I cant get my share of the deposit money without paying another 3%. I am real close to quitting. I just need a handful more of my repeat customers to start and keep going around them. Aggravating

It would be fine, until the neighbors sue you. It might also be a county issue in that there may be minimum acreage requirements for homes.

Of course. Take the tax break. That's what make rental property such a good investment. Also if you have the unit financed, it will lessen your taxes to offset some of your principal payments.

I never used any of that. I look at a property, if I like it and I think the rent makes sense for the area, I buy it. I will admit that in my early days I would focus on 2% Rent headed toward 2% rent compared to purchase price. I just understand and know my market.

Commercial Fire and hazard with general liablity

Well for one, They will add back non cash losses, like depreciation, back to your taxable income.

You forgot to mention that the rehab costs are usually double what you expected and take twice as long.

We have used QB Premier for years. Does it all. Weak on property maintenance but not a deal breaker for us.

Just a good commercial insurance policy covering your rentals, and liability should be fine. See an independent agent.