All Forum Posts by: George Roxby

Anyone have an answer on this one? I'm interested as well.

Thanks. Yeah I'm not sure but when i type the message the send button stays shadowed. I'm sure it's something I'm doing! Anyway thanks again maybe I'll see you at the meeting.

What about cash transactions? I had a few people do work for me and just paid them cash with no receipt. Can I deduct that or is that no good? Paid a guy 2600 to carpet the whole place. No receipt do I still write that off? Or should I just be happy I got it done a lot cheaper than I should have.

The property is in service. It's been occupied by a tenant since August. This is my third rental and I do use a regular account not H&R but I have never been very organized. I usually just hand him all my receipts and statements and he does his thing. I'm fully aware that this is not a good way to run my business but that why I'm here you know 😊 Thanks for the responses I have a better idea how to proceed now.

Won't let me PM for some reason. Maybe I have to pay to unlock that feature? I'd love to be added to a mailing list. roxburo @ hotmail .com I'm local to Middletown and have rentals there and in Atlantic Highlands

In my lease that they are responsible for yard maintenance. Not my problem.

New Jersey

I like my section 8 tenant. My property was completely redone so I had no problem with the inspection. The check is always in my mailbox on the first of the month. The tenant doesn't want to mess up your property because she then runs the risk of loosing her voucher. No problem for me so far. I've only have this section 8 tenant about 6 Months though.

I agree with Brian. I would look at lots of houses and really get a feel for your market. But I would add that it has been helpful for me to follow up on the houses I've looked at. Don't just look at a place, say it's not for you and forget about it. Go back and see what they actually sell for. I feel like this helped me develop my eye for a deal.

I purchased and renovated a buy and hold rental property located in NJ in 2015. I did a lot of renovations on the property. The property is held under my own name and I'm trying to get organized before I go to see my tax guy. My question is how can I best organize the deductions so I'm not just handing my tax guy a four inch thick folder of Home Depot receipts? I understand some of the larger ideas may be depreciable. Really curious as to the best way to organize everything to hand him a nice neat package to ensure I get the best use of my deductions. Examples of work All new bathroom AC compressor Carpet Large tile floor Roof repairs Lots of cleanup (50 yards of dumpster) HW heater Paint Kitchen Cabinets Granite counter tops Few doors And all of the odds and ends that go along with all of that. I'm sure I'm missing something. End of the day purchased the place for 102k and put around 20k into it. I have it rented for 1900 a month so it's doing well for me so far. Thanks for any input. This is my first BP post!