All Forum Posts by: Joshua D.

Thanks guys, good idea with the co-signer. My wife works for a property management company and they do that all the time. Don't know why I did not think of that.

I had a showing yesterday and the perspective tenant offered to pay all 6 months up front he "really needed somewhere to live".

However he turned in his app with no past landlords for reference. Said he has lived in hotels and short term places the last 4 years. He is a traveling construction worker. Said his company got a contract in our area for the next 5 months and wants to stop paying $80 bucks a night for hotels....

Anyways...... Would you rent to Him? Seems kinda fishy...

well I may not be the best object lesson here but, I currently run my whole duplex 2/1 and a 1/1 on a 100 amp and the other 100 amp from the outlet goes to a 3/2 SFR run next door. Never had a problem with any usage...

With that said I am now adding the 3/2 with its own service, and splitting the 2 100 amp between the duplex like it was suppose to be, but only cuz I want them all to be separately metered not because of power issues.

Take that for what it's worth..... Not much I think

Here in Montana you can use what is called the "Montana Cadastral Mapping". The state of Montana runs it and it is it is free and shows all kinds of info: tax, lot size, description, owners, all sorts of great stuff. Basically everything you can get at the clerk and recorders office.

My wife just showed me that you can search for almost any criteria, including names. Kinda fun typing in local investors names just to see what they own.

Not sure if there is one where you live, but there should be... We get frustrated trying to look up properties out of state and it seems like there are hardly any others out there. If you find more like this let me know!

thank you @Wayne Brooks

If I bought a fixer upper, lived in and improved, and then moved to rent it out. Would I use the ARV to depreciate on taxes, or would I have to use the original purchase price? How would I figure the ARV for taxes? CMA, appraisal?

Wow, thanks for the great reply!

Ok so I live in a duplex, and rent out the other half.

1. My CPA is telling me we will deduct 50% of the shared expenses on the building the rest is considered my housing costs.

2. I was reading somewhere that the correct way to file live in multifamily is to charge myself a fair market value to live there to the profit side and deduct all of the expenses to the cost of the investment.

What is correct 1. Or 2. ? Or both???

I hope this is clear what I'm asking.

I'm not sure my CPA is familiar with rental properties or not. Just want to feel this out with the BP community on if it's time to look for a new CPA.

Hey Cody

I' m so glad to see a fellow youthful Montana person (Montanaian?) passionate about real-estate. I'm getting kind of sad talking with my friends about their new trucks or toys. (Not that toys are bad) and all I can think of is man if you put that money into an investment that made you money instead of cost you money, you might actually have some money someday! Drives me nuts.

Anywho sorry about the rant. I'm just glad your here. Gives me hope for our generation.

Joshua.

hey I know this is old. But I have been wanting to play the cash flow game and even more excited to rub shoulders with fellow real estate investors. Do you still meet? Could you?