All Forum Posts by: Wilson Churchill

Expenses generally run 50% of gross rents (depending on who pays for utilities). The rest is your cash flow, minus any debt service (none in this case).

I vote for NO, only because you cannot discharge student loans in bankruptcy. Credit cards are my favorite source of financing, provided balance transfer deals are available.

I keep track of everything with Excel. I use TurboTax or another software program to generate the return.

BTW, a single-member LLC reports income from rentals on Schedule E, unless an election is made to treat the LLC as a C or S Corporation.

Wow.. It definitely looks like it needs to be redone. All tile that's not on a slab should be installed over cement board.

I would let me borrow it..

Then I would use it to buy a rental and refinance after a year.

 It's probably an act of defiance on his part, given the propaganda put out by the "liberal" media and the Communist BLM movement. If he's always had them, then he probably has ancestors that fought on the Confederate side of the Civil War.

I take it a bit to the extreme and live with roommates in a home that I bought cheaply. I won't upgrade my situation until I meet my real estate goals.

I like to use one gallon of concentrated bleach with two gallons of water and a cup of TSP. You want to keep this mixture off of your skin though..

That may be true, in the sense that many people don't make money with them. I have bought homes from landlords that weren't able to effectively manage their properties.

That's quite the mold project. This is why a drainage system for water heaters is so important. I would imagine they will be installing a pump or something just in case the next water heater fails like this. I always add drain pans if there is no floor drain present.