All Forum Posts by: Dennis Nemitz

Thank You!!!

I just purchased a townhouse for my primary residence. I have owned my current home for 30 years, and we are having a bit of trouble selling it because of our emotional attachment to it. So we are thinking about renting it out instead of selling it. What I need advice on is, when we do sell it will we be taxed on the amount we depreciate it from our purchase price, or on the homes value when we turned it into an income property?

What's the best software for a small landlord? I need to keep better track of expenses and income.

I have acquired two mobile homes on a park I own. Should I sell them on a contract for title, or rent to own?

I had 5 bids. One was $35,000, most were around $13,000. It was over a house and needed to be taken down piece by piece. No one died though, so I am happy about that.

The devil's in the septic system. I would never buy that property as a trailer park. If the place down the road sold for a million, maybe it would be a good buy as a parking lot. The whole scenario just smells bad to me! (really bad pun intended)

I bought a small park in Montana. A year in I had to have a very large cottonwood tree removed because it had the potential to fall on a house. It cost over $8500 to get it removed. I had never even considered trees when the property was inspected. I imagine this mistake could be made on any property an investor might buy.

I just closed on a vacation rental. What amenities can I add that will really help my property to stand above the crowd, especially low cost things that really add value?

My daughter and sister live near the Cubs Stadium. That is where we would like to start. I think I will wait until the market cools a little.

I am considering buying a condo in the Mesa area. For Phoenix area investors, has the market flattened at all, what time of year is best to buy, and is there any good deals now. I am looking for something that I can use when I want to, then do short term rental the rest of the year.