Landlord’s Guide To Paying Taxes For Rental Income Property

Give To The IRS What is Due To The IRS - Paying Taxes for Your Rental Income Property Letting go of 25 to 35 percent of your income to tax is often a painful but compulsory thing to do. You would think of the things you could have bought with the said amount: renovate your multi-door apartment, go on a family vacation, finance another investment, or whatever it is that you want to spend on. … [Read more...]

Section 8 Tenants – 4 Reasons For Landlords To Let Them In

Are you walking on eggshells when wooing delinquent tenants to settle their dues lest they might vandalize your rental property? Are you hesitant to acquire and rent out low-cost rental units because you worry about managing problem tenants that commonly rent such houses? You may want to consider taking in Section 8 tenants. What Are Section 8 Tenants? These are low-income families who qualify … [Read more...]

The Most Common Mistake Made by Newbie Real Estate Investors

Do not become a landlord or fix and flip real estate investor without the appropriate reserve funds. Without the appropriate reserve funds you will most likely be adding to our economy’s foreclosure backlog and just become another statistic. Take this advice seriously, it has been learned the hard way by many investors that have come before you. Refer to Murphy's Law. The Perfect Rehab? How … [Read more...]

Shhhh…Underground Advice: How to Claim the Homestead Exemption as a Landlord

The following is not warranted as legal, tax, or appropriate advice, but it does happen. Landlord Reduces Property Taxes The homestead exemption is a tax exemption given to a resident's primary home that reduces the assessed value for tax calculation purposes and thus reduces the property taxes paid.  Most states have a homestead exemption but not many people realize that in many counties it is … [Read more...]

Landlord Jailed After Trying to Suck Tenants’ Toes

I wonder if this one is covered under the tenant-landlord laws?

Here’s a story to help give your mind a break from placing offers, negotiating short sales, and calculating cash flows. A landlord with a bizarre foot fetish who targeted his tenants by trying to suck their toes and acting indecently in front of them has been given a 18-month prison sentence after being found guilty of a number of sexual assaults. Can you imagine going in front of a … [Read more...]

Check Out Our Latest Rental Property – Another Buy, Fix, and Rent

Nothing Fancy - Just Another REO Purchase This home was a standard REO home listed for $55,000.  We originally offered $35K and came to a final compromise of $38K with the bank.  Once again, our offer was accepted over other higher offers solely on the basis that ours was a non-contingent cash offer. This is the 10th property added to our rental portfolio all of which are in the same … [Read more...]

Loan Modification for Investors

Banks are approving loan modifications for investors

Over the past year, I have talked with several investors down on their luck because of the real estate market crash.  Everyone seems to have the same story, “I didn’t see this coming”.  More accurately put, I would say that most of us had our blinders on and tried to enjoy this gravy train as long as we could.  So what does an investor do to get through this downturn? Banks are Approving … [Read more...]

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