All Forum Posts by: Bhushan Walde

@Bruce Lynn

Thank you Bruce appreciated.

Hey guys,

I am in Texas, I bought my first property lived in it for 3 years then rented it for 2 years and now I sold it.

After selling this property, I bought 2 more rental properties from the proceeding.

Now my tax guy is saying I owe to the IRS. My question is. What are different deductions and can I do like for like exchange ? How Is that works?

Regards

Bhushan

Thank you All for your Advice I will be keeping these in mind. I  have been reading Texas landlord laws  and trying to improve my understanding about specific laws.

This place looks so cool, I will need to keep coming back. Lot to learn...

@Bjorn Ahlblad thankyou for your response. After reading some post on site which are based on similar situation and your response. It look like, I will be denying the applicant. That said, now this will be my first denial so will need to find proper wording so that I do not create a mess for my self.

Once again, thank you.

I have been owning properties last 3-4 years, till now it was someone else was managing my properties. Now, I want to manage.

I have this tenant with low score, moving in my city, will have good pay verified with employer and offer letter. 

He had a criminal history in 1997, ready to give some extra security deposit. 

Can I ask for 3 months rent as deposit and put a condition of if he misses the payment by one month, he will be evicted no question ask?

I hope some of you professionals will be able to help me  with this.

 regards

B