Comments for i bought a duplex (!)

Comment on Piggybacking for a higher credit score (and better mortgage rate) by jim brown

Sat, 02 Aug 2008 01:35:01 +0000

This does work to improve your credit. But the credit and credit card companies are going to change these by the end of the year. I read this in the paper last month.

Comment on About by Maria

Thu, 31 Jul 2008 16:31:22 +0000

I think your site is awesome! I am so glad I stumbled on it while doing research in purchasing the duplex that I live in.

Comment on Oh, the fraudulent tenant from overseas scam… by Bharu

Mon, 14 Jul 2008 22:18:22 +0000

I recently received several of these emails from individuals in Spain, Ireland, UK and Canada. When I suggested that the girl from Spain meet my sister for an interview (since they “supposedly” live in the same town), I never heard back from her.

Comment on About by Dee in San Francisco

Fri, 11 Jul 2008 23:31:21 +0000

Hi!

I also live in my duplex property and rent out the 2nd unit. I’m not sure if your website is current (no dates to be found), but if so, and you answer questions from your comments section, I’d like to know if you have Landlord’s Insurance?

I don’t and sometimes feel very worried about the fact, mostly in terms of law suits, liability. The building is covered by my Homeowner’s Insurance and the tenants are responsible for their personal possessions, but I could lose everything in a lawsuit.

Thanks for any info or thoughts on this.

Comment on The owner-occupied duplex tax shelter by Johnny

Wed, 25 Jun 2008 00:57:48 +0000

I love your site. I’m thinking about buying a duplex in the coming months and this seems to be one of the best resources out there. As for tax deductions, what are the rules for applying a loss on your rental property as a tax deduction on your personal income?

Comment on Now certified to view full credit reports on rental applicants by Small-Time Investor

Sun, 15 Jun 2008 04:54:35 +0000

This is a great resource. I’ve been renting properties out for the last few years. To this point, the most due diligence I’ve done is to call references, previous landlords and employers. I need to consider signing up for a service like the one you mentioned. Great blog! Keep it up.

Comment on The owner-occupied duplex tax shelter by Vitaly Gnatyuk

Sat, 07 Jun 2008 09:04:01 +0000

“I was able to depreciate half of my house (the rental part). I’m writing off a portion of the value of the house every year (half the original purchase price, spread over 27.5 years), as though it were being “used up” by being rented out — while in fact, it’s appreciating in value. ”

27.5 years is great, but you can/could make it better. Land improvements (sidewalks, fences, landscaping shrubbery, septic systems, water pipes) – 15 years, Computers and peripherals – 5 years, Typewriters, adding machines, copiers – 5 years, Automobiles and trucks under 13,000 lbs. – 5 years, Office furniture (desks, chairs, file cabinets, etc.) – 7 years,

These Items can be depreciated much quicker and save hundreds or thousands on your taxes. Search the irs website for more info.

Comment on About by Lisa

Fri, 30 May 2008 02:14:16 +0000

Love your blog. I can relate to it in an amazing number of ways. I also bought a duplex about 3 years ago in my late twenties and I also owner occupy. The rich dad books are favorites of mine, and owning investment property has also made me become more interested in passive income and I look at new real estate a lot now.

Keep up the fabulous blog, I will be back soon.

Comment on Attic Adventures- part I: An attic with NO insulation by Repair Air Conditioning

Fri, 16 May 2008 08:50:46 +0000

That is so weird to see no insulation at all in 03! Well at least it corrected now.

Comment on Refunding the security deposits. Mostly. by mrgender

Sat, 10 May 2008 05:44:26 +0000

I, too, have struggled with the Less Easy Things to Figure Out.
Wear’n'tear is quite subjective, and is likely to be different for a renter compared to an owner - it’s relative to your (vested) interest in the property.

I tend to err for the renter as I don’t want the hassle of any court calls. Pictures may be a way to prove your position if you’re ever called to your judgement.