Open House – Rants & Raves

[SD Realtor]

Surveyor –

Yours is an example of diligence and hard work to achieve (what looks like) a potentially sound investment in rental property. Your methods appear to be based on alot of legwork, study, and working with local realtors/property managers. Also the most important point seems to be that a substantial amount of time studying the demographics/employment/economic (growth potential) of the areas you invest in is performed.

It is a very sound approach and has produced, and will continue to produce great returns for you. What is clearly evident, (at least to me) is that there is more work involved then people think. Congrats on your finds and I am sure there will be more in the future.

SD Realtor

[surveyor]

Thanks SD R…

I’ve actually been looking at Huntsville for the past year, but the credit crunch made it difficult to search for loans. I only entered the serious acquisition phase for Huntsville about three months ago. For Huntsville, it wasn’t nearly as much work because my realtor was an investor himself and he was extremely aggressive. We basically polled five properties and see who would deal.

Like I said, I wish I could get more money so that I could buy more, but oh well. I only have enough for two more. Still, that should be enough.

My next area for research is Nashville. I did take a look at New Orleans and the other GO Zone areas, but there is a lot of investor activity there bidding up projects so I’m reluctant to take part in that. I’m still a little small potatoes so I’d rather have a realtor give me at least most of their attention. So hopefully in 2008 I will be looking at some four plex in Nashville and making an offer on it.

I told my wife, it’s going to be difficult justifying buying a car when you can purchase a property for $15k…

[surveyor]

Thanks SD R…

I’ve actually been looking at Huntsville for the past year, but the credit crunch made it difficult to search for loans. I only entered the serious acquisition phase for Huntsville about three months ago. For Huntsville, it wasn’t nearly as much work because my realtor was an investor himself and he was extremely aggressive. We basically polled five properties and see who would deal.

Like I said, I wish I could get more money so that I could buy more, but oh well. I only have enough for two more. Still, that should be enough.

My next area for research is Nashville. I did take a look at New Orleans and the other GO Zone areas, but there is a lot of investor activity there bidding up projects so I’m reluctant to take part in that. I’m still a little small potatoes so I’d rather have a realtor give me at least most of their attention. So hopefully in 2008 I will be looking at some four plex in Nashville and making an offer on it.

I told my wife, it’s going to be difficult justifying buying a car when you can purchase a property for $15k…

[surveyor]

Thanks SD R…

I’ve actually been looking at Huntsville for the past year, but the credit crunch made it difficult to search for loans. I only entered the serious acquisition phase for Huntsville about three months ago. For Huntsville, it wasn’t nearly as much work because my realtor was an investor himself and he was extremely aggressive. We basically polled five properties and see who would deal.

Like I said, I wish I could get more money so that I could buy more, but oh well. I only have enough for two more. Still, that should be enough.

My next area for research is Nashville. I did take a look at New Orleans and the other GO Zone areas, but there is a lot of investor activity there bidding up projects so I’m reluctant to take part in that. I’m still a little small potatoes so I’d rather have a realtor give me at least most of their attention. So hopefully in 2008 I will be looking at some four plex in Nashville and making an offer on it.

I told my wife, it’s going to be difficult justifying buying a car when you can purchase a property for $15k…

[surveyor]

Thanks SD R…

I’ve actually been looking at Huntsville for the past year, but the credit crunch made it difficult to search for loans. I only entered the serious acquisition phase for Huntsville about three months ago. For Huntsville, it wasn’t nearly as much work because my realtor was an investor himself and he was extremely aggressive. We basically polled five properties and see who would deal.

Like I said, I wish I could get more money so that I could buy more, but oh well. I only have enough for two more. Still, that should be enough.

My next area for research is Nashville. I did take a look at New Orleans and the other GO Zone areas, but there is a lot of investor activity there bidding up projects so I’m reluctant to take part in that. I’m still a little small potatoes so I’d rather have a realtor give me at least most of their attention. So hopefully in 2008 I will be looking at some four plex in Nashville and making an offer on it.

I told my wife, it’s going to be difficult justifying buying a car when you can purchase a property for $15k…

[surveyor]

Thanks SD R…

I’ve actually been looking at Huntsville for the past year, but the credit crunch made it difficult to search for loans. I only entered the serious acquisition phase for Huntsville about three months ago. For Huntsville, it wasn’t nearly as much work because my realtor was an investor himself and he was extremely aggressive. We basically polled five properties and see who would deal.

Like I said, I wish I could get more money so that I could buy more, but oh well. I only have enough for two more. Still, that should be enough.

My next area for research is Nashville. I did take a look at New Orleans and the other GO Zone areas, but there is a lot of investor activity there bidding up projects so I’m reluctant to take part in that. I’m still a little small potatoes so I’d rather have a realtor give me at least most of their attention. So hopefully in 2008 I will be looking at some four plex in Nashville and making an offer on it.

I told my wife, it’s going to be difficult justifying buying a car when you can purchase a property for $15k…

[(former)FormerSanDiegan]

Surv, let me know if I’m wrong, but it didn’t seem that you factored in the interest deduction in your tax savings (in that equation). Seemed like you only factored in straight line depreciation.

????

The mortgage interest is simply an expense (as are property taxes, insurance, depreciation, maintenance, property management, advertising costs etc). These are deducted from the gross rent received, you only pay taxes on the amounts that exceed real (most of them) and phantom (depreciation) costs.

The accounting in the other link took into account mortgage expenses by subtracting them from gross rents. There is no other interest deduction to factor in.

[(former)FormerSanDiegan]

Surv, let me know if I’m wrong, but it didn’t seem that you factored in the interest deduction in your tax savings (in that equation). Seemed like you only factored in straight line depreciation.

????

The mortgage interest is simply an expense (as are property taxes, insurance, depreciation, maintenance, property management, advertising costs etc). These are deducted from the gross rent received, you only pay taxes on the amounts that exceed real (most of them) and phantom (depreciation) costs.

The accounting in the other link took into account mortgage expenses by subtracting them from gross rents. There is no other interest deduction to factor in.

[(former)FormerSanDiegan]

Surv, let me know if I’m wrong, but it didn’t seem that you factored in the interest deduction in your tax savings (in that equation). Seemed like you only factored in straight line depreciation.

????

The mortgage interest is simply an expense (as are property taxes, insurance, depreciation, maintenance, property management, advertising costs etc). These are deducted from the gross rent received, you only pay taxes on the amounts that exceed real (most of them) and phantom (depreciation) costs.

The accounting in the other link took into account mortgage expenses by subtracting them from gross rents. There is no other interest deduction to factor in.

[(former)FormerSanDiegan]

Surv, let me know if I’m wrong, but it didn’t seem that you factored in the interest deduction in your tax savings (in that equation). Seemed like you only factored in straight line depreciation.

????

The mortgage interest is simply an expense (as are property taxes, insurance, depreciation, maintenance, property management, advertising costs etc). These are deducted from the gross rent received, you only pay taxes on the amounts that exceed real (most of them) and phantom (depreciation) costs.

The accounting in the other link took into account mortgage expenses by subtracting them from gross rents. There is no other interest deduction to factor in.

[(former)FormerSanDiegan]

Surv, let me know if I’m wrong, but it didn’t seem that you factored in the interest deduction in your tax savings (in that equation). Seemed like you only factored in straight line depreciation.

????

The mortgage interest is simply an expense (as are property taxes, insurance, depreciation, maintenance, property management, advertising costs etc). These are deducted from the gross rent received, you only pay taxes on the amounts that exceed real (most of them) and phantom (depreciation) costs.

The accounting in the other link took into account mortgage expenses by subtracting them from gross rents. There is no other interest deduction to factor in.

[Jumby]

You CAN deduct interest for tax purposes on investment property.

[Jumby]

You CAN deduct interest for tax purposes on investment property.

[Jumby]

You CAN deduct interest for tax purposes on investment property.

[Jumby]

You CAN deduct interest for tax purposes on investment property.

[Author]

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