All Forum Posts by: Dilpreet Singh

This will work for you. Even if you have an LLC but it is only for the sq ft office in your home and the office has to be dedicated for the business in order for it to work. So the laptop in the office needs to be LLC only laptop, etc. If done right then this will also help with taxes, utilities, insurance, etc

your friends are right :) I don't have full terms here for you, for that you will need a CPA. Here is what I can tell you. Everything you are putting into the house right now till the day you post on for rent is a capital expense (this includes utilities). You will wright them off but as a capital expense over the years like a roof/house purchase etc. 

once you post the house for rent then anything after that like utilities and basic repairs will be a monthly or same year wright off. 

Find a good CPA that will do your taxes and willing to answers questions. Then maybe after few years you can start doing them yourself. 

Hope this helps 

Depending on the terms of the hard money it can be wroth it, but it will not work cause legally when the bank ask if it is borrowed money you will say yes. Look into contract financing or other investors that can help you. Its better to grow slowly then to jump into it and not have a way out. 

There are many other factors that go in place before a market value can be effected. The main thing I would be worried about how far it is from the stadium cause if you can hear it then likely will lower the value due to sound just like being off a main road. 

Did you try the County or city office? Normally we can call them and ask for owner's information and sometimes they have a forwarding address as well. 

Did you go look at the garage door? Sometimes by looking at it, you can see what is wrong. I would get a quote and at that time ask them what they think happened. If they are not sure then you might as well cover the cost instead of fighting it. Also, switch over to Torsion Spring if you have not already. 

@Brian Garrett your best option at this point might be to find someone to co-sign or a partnership to go in with. A lot of times you will see family co-sign first one or two places to help start the business. 

As of right now i dont offer any discounts or yard care for any property. Now for some tenants I have pretty much set there rate cause they been with me for more then few years with no late payments. As in right now I would charge more for the same place but since they are in it I wont to them. 

Next few years I been thinking about making it a deal where if no late payment for two years then i drop there rent by 25-50 or start giving all tenants no lawn care if i can get a company to do it for me on a good rate. 

I would think your only option is to save up. Look to see if you can start by getting an contract place so you don't have to pay 20% down or get a first time home buyer live in it for a year like the bank requires and then move into rental so you can get more cash first. 

During the first year you can still make money by getting roommates. 

be very careful with that, if you told HUD that you are going to be buying it as owner occupants and don't there will be law suits from HUB as well as do an foreclose on your loan since it was purchase under false pretenses