All Forum Posts by: Courtney Duong

I agree with Adam. For small pin holes, just use a bit of filler and wipe with a damp cloth afterwards to remove any from the painted surface.  If it is scuffs or stains, try Mr Clean eraser.  I once had an exterior metal door that I swore I'd have to repaint.  A bit of scrubbing, okay a lot, and it was like new.

Make sure you get it shaken again.  If it doesn't work, they should be able to make a small tester can-enough for you to do the one wall.

Take it back to Sherman Williams and have them put it in the shaker before use.  If it has separated at all, this can help get it back in shape.

My bet is the paint is still good.  If the paint looks good, it is probably good!  When I've had paint go bad it had separated and started to curdle almost like spoiled milk or smells like it has gone bad.

As previous posters have advised, it is always best to paint an entire wall at the same time.  If the walls were painted recently the touch-ups won't be super noticeable.  Hopefully your tenant was in there for at least a year and in that case, it will definitely be noticeable!

@Courtney Duong Paint can be effected by extreme hot and cold temps.   However, we NEVER touch up.   You can used the paint just paint wall to wall.   Even if it is one wall only that needs paint.   You will not be able to tell the difference if you go wall to wall.   If you hit just "spots" on a wall you can always tell the difference when it dries. 

If it is small nail holes wipe them down and spackle with as little spackle as possible and wipe excess off  with a damp cloth after 30 minutes to an hour do not sand and let dry.  This should leave small pin holes so take a small craft brush and paint just the nail hole.  99% of the time this works for small nicks or holes and keeps you from having to paint the whole wall and nobody knows the difference.  Bigger issues though just paint the wall.  Also give the paint a shot it’s not that old what do you have to loose. It in the future though keep it in your basement and paint all units the same color to keep paint inventory low.  

@Courtney Duong Paint can be effected by extreme hot and cold temps.   However, we NEVER touch up.   You can used the paint just paint wall to wall.   Even if it is one wall only that needs paint.   You will not be able to tell the difference if you go wall to wall.   If you hit just "spots" on a wall you can always tell the difference when it dries. 

@Courtney Duong you have a good question, and this is a bit of a complex topic. What you need to know is that there are two separate qualifications, 1) in order to qualify as REPS you must be participating in a real property trade or business. 2) You need 750 hours of "material participation" in rental properties. 

In your case, even though you work as a PM, you need  to own at least 5% of the company in order to qualify as ownership, and use those hours towards material participation. Without knowing any more details about your specific situation, and any properties that you may own, I can't really comment as to whether or not you can qualify.

@Yonah Weiss. Thanks for the response. We own and self manage 1 retail strip (9 units) and 10 SFH as of now (and still buying) so I am busy all the time working on acquiring and managing those. So I qualify for #1 and #2 you mentioned above, but then not meeting the 5% ownership of the company.

That is correct. But if one spouse qualifies for REPS they can both use the passive losses to offset ordinary income.