All Forum Posts by: Jerome K.

You mentioned you have new tenants moving in next week. Does this overlap with the “13 days” you are trying to withhold from the deposit?  If so, I’m pretty sure you won’t be able to stake a claim on that (double collection).

I agree with Jason. I'm not sure how the sale would be beneficial, especially since it doesn't met "arms reach" requirements. Are you selling it from an LLC to you personally? I'm pretty sure there's tax consequences there.

 Any updates?

She has to be trolling ....

Starting to see more and more of them these days here. 

@Michael S., Has there been an update on this? I am trying to search the FilePlace and the option is not there.

a couple of things to consider:

The “public network” you setup needs to have appropriate network securities. You wouldn’t want to have Tenant A able to access files on Tenant B’s computer. 

You could be held responsible for the websites and content your tenant’s access (copywriten material). 

I started using kwiksets.  It takes less than two minutes to rekey each lock.  Much more cost effective than having a lock smith rekey, or switching out cylinders, and they aren't expensive either.

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Your table labeled it as "extra payment", so I assumed it was an extra principle payment made each month (to match your payment on the 15 year mortgage).  What I was saying is that there really is no difference (other than the lower interest rate) in the 30 year mortgage and making the payment "as-if" it was the 15 year payment (454+158).  Basically, the 15 year mortgage takes what would be your extra cash flow, and forces it into the principle of the asset, making it very difficult to use that money in the future (unless you take out another loan against it).  I would say that's a good strategy for a "mature" business looking to pay down debt.  But for "growth" businesses, the extra cash flow now is much better put to use.

*Not an accountant*, but pretty sure these will not classify as expenses.  My understanding is these will be added to the cost basis of the property, or capitalized and depreciated over several years.

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I think you may have ran these numbers wrong (total interest paid).   If you factor in the extra payment ($158/month), the total interest paid comes to ~43,309.  You pay more in interest because the longer term note has a higher interest rate.  If both notes had the same rate, the payoff, and total interest would be the same.  If less debt is your goal, then this is a good strategy.  If you are "ramping up", the higher cash flow is better (just my two cents).