Investing in rental properties

[sdrealtor]

Be cautious with someone like that as there is a big difference between blogging about housing and understanding the nuts and bolts of real estate transactons. I find it ironic when someone who is so anti housing realizes there is no money to be made in what they are doing and sooner or later they become the very people they have spent years demonizing. From what i have seen they havent been sucessful in their transitions. Powayseller?Mr. Mortgage? There are a few others but those immediately come to mind. Sooner or later we’ll see Ben Jones Realty & Mortgage.

FWIW, a buy vs rent calculation can be found just about anywhere on line.

[(former)FormerSanDiegan]

[quote=sdrealtor]and write the trip off![/quote]

I believe that travel for identifying and purchasing a rental property is not immediately deductible as an expense, but rather is applied to the cost basis of the home. Don’t know if it is depreciable or not. Regardless, the tax break is going to be accumulated over a signficant period of time.

However, travel to the property for repairs and maintenance fall into a different category and can be deducted in the year they are incurred.

Going off memory here. Consult a tax advisor.

[(former)FormerSanDiegan]

[quote=sdrealtor]and write the trip off![/quote]

I believe that travel for identifying and purchasing a rental property is not immediately deductible as an expense, but rather is applied to the cost basis of the home. Don’t know if it is depreciable or not. Regardless, the tax break is going to be accumulated over a signficant period of time.

However, travel to the property for repairs and maintenance fall into a different category and can be deducted in the year they are incurred.

Going off memory here. Consult a tax advisor.

[(former)FormerSanDiegan]

[quote=sdrealtor]and write the trip off![/quote]

I believe that travel for identifying and purchasing a rental property is not immediately deductible as an expense, but rather is applied to the cost basis of the home. Don’t know if it is depreciable or not. Regardless, the tax break is going to be accumulated over a signficant period of time.

However, travel to the property for repairs and maintenance fall into a different category and can be deducted in the year they are incurred.

Going off memory here. Consult a tax advisor.

[(former)FormerSanDiegan]

[quote=sdrealtor]and write the trip off![/quote]

I believe that travel for identifying and purchasing a rental property is not immediately deductible as an expense, but rather is applied to the cost basis of the home. Don’t know if it is depreciable or not. Regardless, the tax break is going to be accumulated over a signficant period of time.

However, travel to the property for repairs and maintenance fall into a different category and can be deducted in the year they are incurred.

Going off memory here. Consult a tax advisor.

[(former)FormerSanDiegan]

[quote=sdrealtor]and write the trip off![/quote]

I believe that travel for identifying and purchasing a rental property is not immediately deductible as an expense, but rather is applied to the cost basis of the home. Don’t know if it is depreciable or not. Regardless, the tax break is going to be accumulated over a signficant period of time.

However, travel to the property for repairs and maintenance fall into a different category and can be deducted in the year they are incurred.

Going off memory here. Consult a tax advisor.

[UCGal]

[quote=FormerSanDiegan][quote=sdrealtor]and write the trip off![/quote]

I believe that travel for identifying and purchasing a rental property is not immediately deductible as an expense, but rather is applied to the cost basis of the home. Don’t know if it is depreciable or not. Regardless, the tax break is going to be accumulated over a signficant period of time.

However, travel to the property for repairs and maintenance fall into a different category and can be deducted in the year they are incurred.

Going off memory here. Consult a tax advisor.[/quote]
I’m pretty sure you’re right. We did long distance landlording with my husbands (premarriage) house. He’d combine trips to visit family in Philly with doing maintenance and repairs. His airfare was deductable according to turbo tax. (and he stayed with family so there was no lodging associated with these working vacations.)

[UCGal]

[quote=FormerSanDiegan][quote=sdrealtor]and write the trip off![/quote]

I believe that travel for identifying and purchasing a rental property is not immediately deductible as an expense, but rather is applied to the cost basis of the home. Don’t know if it is depreciable or not. Regardless, the tax break is going to be accumulated over a signficant period of time.

However, travel to the property for repairs and maintenance fall into a different category and can be deducted in the year they are incurred.

Going off memory here. Consult a tax advisor.[/quote]
I’m pretty sure you’re right. We did long distance landlording with my husbands (premarriage) house. He’d combine trips to visit family in Philly with doing maintenance and repairs. His airfare was deductable according to turbo tax. (and he stayed with family so there was no lodging associated with these working vacations.)

[UCGal]

[quote=FormerSanDiegan][quote=sdrealtor]and write the trip off![/quote]

I believe that travel for identifying and purchasing a rental property is not immediately deductible as an expense, but rather is applied to the cost basis of the home. Don’t know if it is depreciable or not. Regardless, the tax break is going to be accumulated over a signficant period of time.

However, travel to the property for repairs and maintenance fall into a different category and can be deducted in the year they are incurred.

Going off memory here. Consult a tax advisor.[/quote]
I’m pretty sure you’re right. We did long distance landlording with my husbands (premarriage) house. He’d combine trips to visit family in Philly with doing maintenance and repairs. His airfare was deductable according to turbo tax. (and he stayed with family so there was no lodging associated with these working vacations.)

[UCGal]

[quote=FormerSanDiegan][quote=sdrealtor]and write the trip off![/quote]

I believe that travel for identifying and purchasing a rental property is not immediately deductible as an expense, but rather is applied to the cost basis of the home. Don’t know if it is depreciable or not. Regardless, the tax break is going to be accumulated over a signficant period of time.

However, travel to the property for repairs and maintenance fall into a different category and can be deducted in the year they are incurred.

Going off memory here. Consult a tax advisor.[/quote]
I’m pretty sure you’re right. We did long distance landlording with my husbands (premarriage) house. He’d combine trips to visit family in Philly with doing maintenance and repairs. His airfare was deductable according to turbo tax. (and he stayed with family so there was no lodging associated with these working vacations.)

[UCGal]

[quote=FormerSanDiegan][quote=sdrealtor]and write the trip off![/quote]

I believe that travel for identifying and purchasing a rental property is not immediately deductible as an expense, but rather is applied to the cost basis of the home. Don’t know if it is depreciable or not. Regardless, the tax break is going to be accumulated over a signficant period of time.

However, travel to the property for repairs and maintenance fall into a different category and can be deducted in the year they are incurred.

Going off memory here. Consult a tax advisor.[/quote]
I’m pretty sure you’re right. We did long distance landlording with my husbands (premarriage) house. He’d combine trips to visit family in Philly with doing maintenance and repairs. His airfare was deductable according to turbo tax. (and he stayed with family so there was no lodging associated with these working vacations.)

[Ren]

I would personally steer well clear of Vegas and Phoenix for rental properties, for now anyway. Just take a look at the rental section on Craigslist for those areas and you’ll see why.

[Ren]

I would personally steer well clear of Vegas and Phoenix for rental properties, for now anyway. Just take a look at the rental section on Craigslist for those areas and you’ll see why.

[Ren]

I would personally steer well clear of Vegas and Phoenix for rental properties, for now anyway. Just take a look at the rental section on Craigslist for those areas and you’ll see why.

[Ren]

I would personally steer well clear of Vegas and Phoenix for rental properties, for now anyway. Just take a look at the rental section on Craigslist for those areas and you’ll see why.

[Author]

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