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All Forum Posts by: Ryan Fox

Ryan Fox has started 40 posts and replied 334 times.

Post: Advice - Entered tenant unit without giving 24-hiuur notice.

Ryan Fox
Posted
  • Investor
  • NV and CA
  • Posts 354
  • Votes 212

@D T.- In a legal sense, I can't think of anything else you need to do at this point.  If this is the only time this has happened, it would be difficult for her to argue that you breached the covenant of quiet enjoyment.  

Post: Buying without counting towards DTI

Ryan Fox
Posted
  • Investor
  • NV and CA
  • Posts 354
  • Votes 212

@Rick Albert- One way I've found around this is to take a loan against a stock account.  Costs nothing to set up and it doesn't go on your credit report.

Post: I need help using the BRRR Calculator

Ryan Fox
Posted
  • Investor
  • NV and CA
  • Posts 354
  • Votes 212

@Joel Bayer- Under the "expenses" area, there is a cateogory for "other."  That's where you can put in the principal & interest payment.

Post: I need help using the BRRR Calculator

Ryan Fox
Posted
  • Investor
  • NV and CA
  • Posts 354
  • Votes 212

@Joel Bayer- I stopped using the BRRRR calculator a while ago because it doesn't handle complicated financing scenarios like this well. The easiest way to get around this is to figure out how much the property would cash flow using the "rental property calculator." You'd analyze it as a "cash purchase" and add a special expense category for your principal & interest payment.

Once you see how much it cash flows, you can divide by your total cash investment to find the cash on cash return, then make assumptions about appreciation and mortgage paydown to find your total return.  

Hope this helps.

Post: Book keeping software advice!

Ryan Fox
Posted
  • Investor
  • NV and CA
  • Posts 354
  • Votes 212

@Tim J.- You're right.  Groceries don't have anything to do with rental properties.  My point was you can customize Quickbooks (or Quicken if you go that route) to track you personal stuff and rental property / business stuff.  

Post: Book keeping software advice!

Ryan Fox
Posted
  • Investor
  • NV and CA
  • Posts 354
  • Votes 212

@Juan Lizarazo- Quickbooks.  I was using Stessa before but it didn't allow you to account for other income and expenses, like salary, groceries, ect.  You can add your own categories in QB so you can account for all that stuff.  This is probably not the way you're "supposed" to used QB but I didn't want to get two softwares - one for business and one for personal.  

Post: Application for E2 vias

Ryan Fox
Posted
  • Investor
  • NV and CA
  • Posts 354
  • Votes 212

@Eden Elhar- I think I know an immigration attorney who could help if you'd like a referral.

Post: Has any body here used PadSplit for their rental properties?

Ryan Fox
Posted
  • Investor
  • NV and CA
  • Posts 354
  • Votes 212

@Issa Santos- I found 8 lawsuits they've been in, but I don't know of the details.  They're in GA, FL, and TX.  Of course just being sued isn't proof of anything.

    Post: would a 1031 exchange save me much in taxes?

    Ryan Fox
    Posted
    • Investor
    • NV and CA
    • Posts 354
    • Votes 212

    Appreciate all the responses.  I'll check with my accountant to be sure.  

    Post: would a 1031 exchange save me much in taxes?

    Ryan Fox
    Posted
    • Investor
    • NV and CA
    • Posts 354
    • Votes 212

    @Michael Plaks- Yes, that is how I calculated the gain.

    So I wouldn't owe depreciation recapture?

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