All Forum Posts by: David C.

@Dan Holden

widen your geography for REIA meetings? maybe a neighboring or not so neighboring town will have one when you are not at work?

Start getting to 'yes' - do things you can do. Get over your fear of the phone and of bothering people. The banks' job is to evaluate loan prospects and deliver the answers. You are not bothering them to ask for their feedback.

Start getting some numbers, then pitch Dad, ask him: what numbers do you want? If you don't have the numbers he wants, go get them. Don't know what he as to play with? ask him: Dad, if I get good numbers, how much are you willing to put in?

And thanks, now I'm going to go follow up with someone that I've been afraid to 'bother' myself!

@Glen Caton

the best way to be taken seriously by others is to take yourself seriously, but not too seriously.

Seriously, I'm serious.

@Steven Hamilton II sorry read this again.

the list I gave was for 'full section 179' which is more than 25,000

the 25,000 bonus limit is the parital loophole closed for SUV's that people used to expense 40k in year 1.

@Steven Hamilton II

I thought SUV's no longer qualify?

http://www.section179.org/section_179_vehicle_deductions.html

Many vehicles that by their nature are not likely to be used for personal purposes qualify for full Section 179 deduction including the following vehicles:

1. Heavy “non-SUV” vehicles with a cargo area at least six feet in interior length (this area must not be easily accessible from the passenger area.) To give an example, many pickups with full-sized cargo beds will qualify (although some "extended cab" pickups may have beds that are too small to qualify).
2. Vehicles that can seat nine-plus passengers behind the driver's seat (i.e.: Hotel / Airport shuttle vans, etc.).
3. Vehicles with: (1) a fully-enclosed driver's compartment / cargo area, (2) no seating at all behind the driver's seat, and (3) no body section protruding more than 30 inches ahead of the leading edge of the windshield. In other words, a classic cargo van.

I read this to say a regular 7 passenger SUV no longer qualifies for 25k bonus depreciation.

Are there 9 passenger SUV's? I thought for 9 passengers it was some kind of airport van.

I'm not an accountant, no tax advice.

I've been mad about the six foot bed rule - the chevy silverado hybrid has only a 5 foot bed!

What amazes me is how many high income people are not wealthy.

I think that's @Michael J. 's point - I mean how proud can you be to get into the top 10% of wealth, when 80% of the people are actively avoiding it by buying every shiny doo-dad they see on TV?

Its the badger truck that smells like food waste!

You do have identifying information - its the badger truck!

Wow that house even has broken gravity! piles of trash on the ceiling!

Don't many of the trucks have different animals on them? maybe that skunk or whatever it is will help catch the stinkers. U-Haul can probably tell the size of the truck and the animal and narrow down the list to festivals or parties?

@Jacob A. just think how much you would have had to pay a mentor to get guaranteed exposure to so many potential issues! Think of this property as the fast lane from first timer to experienced flipper!

I'd say you can call your next one at least your 3rd or 4th flip.