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All Forum Posts by: Heather Anderson

Heather Anderson has started 0 posts and replied 3 times.

Post: Lamar From Buffalo NY

Heather AndersonPosted
  • Investor
  • Buffalo, NY
  • Posts 4
  • Votes 2

all you have to do is Google "buffalo property information " and you can go to the city website and see the tax bill. Same goes for county website. You can call buffalo water for outstanding balance information. If city doesn't  show current tax bills, and it says to call them, then the owner is  likely way behind on taxes and close  to foreclosure

Hello, I received a message on this because "Buffalo" was mentioned. I am not exactly sure what your issues are because your original post is not showing up, however, I am a real estate attorney in Buffalo, New York  if you'd like to give me a call to discuss, I'd be happy to speak with you. You can pm me

Post: Rental Income and Taxes

Heather AndersonPosted
  • Investor
  • Buffalo, NY
  • Posts 4
  • Votes 2
Originally posted by @Linda Weygant:

You forgot property taxes and insurance, but the rest of your math is sound for calculating your profit.  You are correct - the principal portion of the loan payments is not deductible.

I'm not following you on getting $36K back tax free.  What you've got is a positive cash flow of $46,600 (after taxes) which you could then use to either acquire new properties or reinvest back into the original one.

 How do you come up with 46,000 (after taxes)? Are you taxing the 60k at her tax rate?