All Forum Posts by: Ed S.

Possible to pull in other local investors? Hopefully they would not sell your deal!

I have a friend who is a judge and asked a very similar question. Keep business money (rental monies) separate. My account has told me the same from an IRA viewpoint --- don't blur the line (legal wise or IRS wise). If it's business, operate it as such. Don't commingle personal monies and business monies.

Can you share with us the breakdown on the $5,200????

Great discussion. Is 2 years of employment typical in most owners criteria? Thanks

opps -- only met to post 1 time.

Tax Strategies for the Savvy Real Estate Investor -- by Amanda Han and Matthew MacFarland.

Tax Strategies for the Savvy Real Estate Investor -- by Amanda Han and Matthew MacFarland. 

I use Web MD for my medical issues, and Turbo Tax for my taxes. Think about that comment folks. Get a CPA! BP has promoted a tax book by a Husband/Wife CPA team. They own rental properties. It's a great book -- tax deductible (per my CPA). Happy April 15th 🤑🤑

Tenant screen!! Check last 2 - 3 places they lived, verify, verify, then inspect, inspect your property quarterly! I rent Section 8, don't let a Gov't check give you peace of mind --- it might turn into a nightmare. Ronald Ragen taught me one thing -- trust, but VERIFY! Not matter the renter (HUD or not)!

Several great suggestions posted here. Main thing I would suggest, find a "Real Estate" CPA. Not a regular CPA, find a CPA who knows/owns property! Your loses seem high, but we are looking in from the outside.