s***i
发帖数: 114 | 1 购买时间 2010 夏天
Purchased price: $139k - Short Sale, 3 levels, walkout basment, with about $
3k renovation to move in condition
mortgage amount: 100k
monthly payment: $580
HOA: $60/month
Insurance: $40/month
Property tax: $160/month
Total monthly cost: about $840
Maintain Cost: $0(up to now) cross fingers, this is case by case, it could
eat up your cash flow and turn it to negative.
Rent: $1300, rent out in a week
Cash flow: $400
Compare to Germantown MD, Reston/Herndon VA area has similar returns for
past two years. |
s****g
发帖数: 1028 | 2 Are you a realtor, if you find another deal that, I will buy it, maybe we
can work out a rebate deal if I buy a few like that through you. |
s***i
发帖数: 114 | 3 This is one of my properties. I have other properties that purchased in 2008
and 2009 with better cash flows. However, there are more repairs than this
one.
Check you bbs inbox please. |
x**n
发帖数: 12542 | 4 牛，买房子都吝堆儿的。
we
【在 s****g 的大作中提到】
: Are you a realtor, if you find another deal that, I will buy it, maybe we
: can work out a rebate deal if I buy a few like that through you.
|
f*****g
发帖数: 15860 | 5 how about income tax as a non-professional landlord?
$
【在 s***i 的大作中提到】
: 购买时间 2010 夏天
: Purchased price: $139k - Short Sale, 3 levels, walkout basment, with about $
: 3k renovation to move in condition
: mortgage amount: 100k
: monthly payment: $580
: HOA: $60/month
: Insurance: $40/month
: Property tax: $160/month
: Total monthly cost: about $840
: Maintain Cost: $0(up to now) cross fingers, this is case by case, it could
|
s****g
发帖数: 1028 | 6 Renter can not deduct their monthly rent on their income tax as far as my
non-professional knowledge, so IRS does not know how much cash you have
collected as a landlord.
I think there is a very small percent of people might be able to claim the
rent as part of their relocation /moving due to job change, so get the
professional advice from CPA first.
【在 f*****g 的大作中提到】
: how about income tax as a non-professional landlord?
:
: $
|
S*********g
发帖数: 5298 | 7 You can deduct rent as bussiness loss if you claim home office deduction.
【在 s****g 的大作中提到】
: Renter can not deduct their monthly rent on their income tax as far as my
: non-professional knowledge, so IRS does not know how much cash you have
: collected as a landlord.
: I think there is a very small percent of people might be able to claim the
: rent as part of their relocation /moving due to job change, so get the
: professional advice from CPA first.
|
s****g
发帖数: 1028 | 8 Told you I am not a professional, but people that rent very cheap places do
not file schedule C, plus we are talking about property in Residential
Zoning, you will need to get license or permit to do business (from county
or city), I guess it is best to avoide those people (plus I don't even want
to start a designated handicap parking spot if someone start to operate a
business from the house)
【在 S*********g 的大作中提到】
: You can deduct rent as bussiness loss if you claim home office deduction.
|
i******y
发帖数: 11 | 9 A landlord file schedule E and can claim a part of primary residence as the
home office.
from book "Every Landlord's Tax Deduction Guide". It just needs to be the
principle place of business for rental management
I checked pub587 before which details business use of home. But for your
case, you don't file schedule C and form 8829 that's for contractors or
small business owners.
the disadvantage here-
depreciation deduction you took for the home office will need to pay
capital gain tax 25% when you sell the primary residence.
You will need to move part of primary residence mortgage interest and
property tax from schedule A to schedule E. That's less itemized deduction.
You are passive investor for your rental propety business but don't have to
register a s-corp or LLC for this.
do
want
【在 s****g 的大作中提到】
: Told you I am not a professional, but people that rent very cheap places do
: not file schedule C, plus we are talking about property in Residential
: Zoning, you will need to get license or permit to do business (from county
: or city), I guess it is best to avoide those people (plus I don't even want
: to start a designated handicap parking spot if someone start to operate a
: business from the house)
|
i******y
发帖数: 11 | 10 I am not a CPA or tax consultant but I spent a few hour reading online on
this topic. welcome to reply if you see any mistakes here.
this is the schedule E(rent reporting for landlord) for this case
considering a year
that you have the house rented for 12 months
rent received 15.6k
Expenses:
insurance 480
mortgage interest about 5500(?)
tax 1920
Can you claim HOA fee as expense in tax form?
$169k base price,
considering it's a short sale, current fair mkt for building value about $
150k(?)
amortization:
150k/27.5 year=$5400
Income or (loss) from rental real estate
$2300-extra expenses(maintenance, repair, home office...)
Let's assume you primary residence is valued $500k, you dedicated a room (10
% of the house)
to home business for rental property management.
business cost(furniture, computer dedicated for rental management)+10%*(
utilities, insurance, HOA, travel from home office to rental house, home
maintenance)
can be easily beat $2300
so the Income or (loss) from rental real estate could be $0 or loss
AGI <$100K you can claim max $25k loss each year
AGI 100k-150k you will be denied 50c for every dollar of (your AGI-$100k)
AGI >$150k you can claim $0 |
|
|
S*********g
发帖数: 5298 | 11 why do you need a designated parking spot for bussinsess?
Why is that necessary for a bussiness?
do
want
【在 s****g 的大作中提到】
: Told you I am not a professional, but people that rent very cheap places do
: not file schedule C, plus we are talking about property in Residential
: Zoning, you will need to get license or permit to do business (from county
: or city), I guess it is best to avoide those people (plus I don't even want
: to start a designated handicap parking spot if someone start to operate a
: business from the house)
|
S*********g
发帖数: 5298 | 12 这版上估计就有神医，租个1000多的房子，每年销售额上百万的。
那谁谁谁，说你呢。快自己出来。
do
want
【在 s****g 的大作中提到】
: Told you I am not a professional, but people that rent very cheap places do
: not file schedule C, plus we are talking about property in Residential
: Zoning, you will need to get license or permit to do business (from county
: or city), I guess it is best to avoide those people (plus I don't even want
: to start a designated handicap parking spot if someone start to operate a
: business from the house)
|
s****g
发帖数: 1028 | 13 Why do you think all business have a few handicap parking spaces assigned.
They are not doing this for fun, because law requires you to have them. A
percentage of the parking spaces (min of one) need to designated as Handycap
parking by law in almost I areas I have checked so far.
【在 S*********g 的大作中提到】
: why do you need a designated parking spot for bussinsess?
: Why is that necessary for a bussiness?
:
: do
: want
|
z***y
发帖数: 7151 | 14 我跳出来揭发， 那个人就是xxx
【在 S*********g 的大作中提到】
: 这版上估计就有神医，租个1000多的房子，每年销售额上百万的。
: 那谁谁谁，说你呢。快自己出来。
:
: do
: want
|
s****g
发帖数: 1028 | 15 I think you misunderstood our discussion a little. I was saying renter do
not report rent amount to IRS (so they can find out how much rent landlord
collected). But the exception to this rule will be if renter operated a
business from his home, he will file schedule C (which he can expense a
percentage of his place for business purpose including utillity, etc). So it
is possible for IRS to find out how much rent you are collecting (if they
are different from what you reported on your schedule E). That is why I do
not permit renter operate a business from his home (among many other things
I do not allow, like pets)
the
the
【在 i******y 的大作中提到】
: A landlord file schedule E and can claim a part of primary residence as the
: home office.
: from book "Every Landlord's Tax Deduction Guide". It just needs to be the
: principle place of business for rental management
: I checked pub587 before which details business use of home. But for your
: case, you don't file schedule C and form 8829 that's for contractors or
: small business owners.
: the disadvantage here-
: depreciation deduction you took for the home office will need to pay
: capital gain tax 25% when you sell the primary residence.
|
S*********g
发帖数: 5298 | 16 http://www.irs.gov/newsroom/article/0%2C%2Cid=108138%2C00.html
Handycap
【在 s****g 的大作中提到】
: Why do you think all business have a few handicap parking spaces assigned.
: They are not doing this for fun, because law requires you to have them. A
: percentage of the parking spaces (min of one) need to designated as Handycap
: parking by law in almost I areas I have checked so far.
|
S*********g
发帖数: 5298 | 17 Any business which provides direct access to the public is required to have
handicapped parking
Read more: Places Required to Have Handicap Parking | eHow.com http://www.eh
ow.com/about_5365499_places-required-handicap-parking.html#ixzz1JFUXN7m7
Notice the part "which provides direct access to the public".
Not every bussiness provides direct access to public. Therefore, it is not
required for every bussiness to have a handicapped parking.
Handycap
【在 s****g 的大作中提到】
: Why do you think all business have a few handicap parking spaces assigned.
: They are not doing this for fun, because law requires you to have them. A
: percentage of the parking spaces (min of one) need to designated as Handycap
: parking by law in almost I areas I have checked so far.
|
S*********g
发帖数: 5298 | 18 你确定只有3个字母？
【在 z***y 的大作中提到】
: 我跳出来揭发， 那个人就是xxx
|
s****g
发帖数: 1028 | 19 Thanks, but I am already familiar with all IRS rules on this and have read
all publications more than once and have discussed them with my accountant
too, so I am good, thanks again.
But since I am not a professional or CPA, I do not want to give detail
advice regarding this matter. I think if you do become a landlord or begin
to operate a business, it is better to hire an accountant, don't cost that
much, but better than to face IRS alone when you get audited.
【在 S*********g 的大作中提到】
: http://www.irs.gov/newsroom/article/0%2C%2Cid=108138%2C00.html
:
: Handycap
|
S*********g
发帖数: 5298 | 20 我只是指出你前面说的renter不会去把租金报税这条是不对的。
【在 s****g 的大作中提到】
: Thanks, but I am already familiar with all IRS rules on this and have read
: all publications more than once and have discussed them with my accountant
: too, so I am good, thanks again.
: But since I am not a professional or CPA, I do not want to give detail
: advice regarding this matter. I think if you do become a landlord or begin
: to operate a business, it is better to hire an accountant, don't cost that
: much, but better than to face IRS alone when you get audited.
|
|
|
s****g
发帖数: 1028 | 21 It is not much of business if you don't want public to be your customer, I
think the kind of business only have a few private client is not a very
legitimate business. ( I had one girl that started offering massage service
from the place she rent from me when she is short for money ). But if you
want to have a sign outside to tell people you are in business, I don't
think you can legally do it in most place that is zoned for residential (you
will not get your business license or permit to put up a sign). The only
area I have checked that you can legally do it might be in some parts of WV,
which do not have zoning laws and very loose laws regarding other things
too, but we talking about greater DC metro here.
have
【在 S*********g 的大作中提到】
: Any business which provides direct access to the public is required to have
: handicapped parking
: Read more: Places Required to Have Handicap Parking | eHow.com http://www.eh
: ow.com/about_5365499_places-required-handicap-parking.html#ixzz1JFUXN7m7
: Notice the part "which provides direct access to the public".
: Not every bussiness provides direct access to public. Therefore, it is not
: required for every bussiness to have a handicapped parking.
:
: Handycap
|
s****g
发帖数: 1028 | 22 You are right.
That is why I clearly tell my renter that they can not operate any business
from the place they rent from me (legally or illegally)
Thanks for pointing that out.
【在 S*********g 的大作中提到】
: 我只是指出你前面说的renter不会去把租金报税这条是不对的。
|
S*********g
发帖数: 5298 | 23 lol.问问这版上的神医们吧。
amazon或者ebay他们的office也不是随便open to the public的。
不过人家可是正经大bussiness
service
you
WV,
【在 s****g 的大作中提到】
: It is not much of business if you don't want public to be your customer, I
: think the kind of business only have a few private client is not a very
: legitimate business. ( I had one girl that started offering massage service
: from the place she rent from me when she is short for money ). But if you
: want to have a sign outside to tell people you are in business, I don't
: think you can legally do it in most place that is zoned for residential (you
: will not get your business license or permit to put up a sign). The only
: area I have checked that you can legally do it might be in some parts of WV,
: which do not have zoning laws and very loose laws regarding other things
: too, but we talking about greater DC metro here.
|
s****g
发帖数: 1028 | 24 amazon或者ebay 正经大bussiness will require a lot more space than what is
typically avail for rent as a space to live, they need to rent warehouse,
which we are not discussing buying and renting out commercial property here,
that is a completely different thing.
【在 S*********g 的大作中提到】
: lol.问问这版上的神医们吧。
: amazon或者ebay他们的office也不是随便open to the public的。
: 不过人家可是正经大bussiness
:
: service
: you
: WV,
|
S*********g
发帖数: 5298 | 25 你太强大了。我们在谈 not open to the public的算不算bussiness
你又能扯到这上面来。
我投降。
here,
【在 s****g 的大作中提到】
: amazon或者ebay 正经大bussiness will require a lot more space than what is
: typically avail for rent as a space to live, they need to rent warehouse,
: which we are not discussing buying and renting out commercial property here,
: that is a completely different thing.
|
s****g
发帖数: 1028 | 26 Not open to the public的bussiness can be counted as a business for sure. I
have been to a few private clubs that are not open to public, you need to be
member or be invited by a member. But the business you are talking about is
like one person (sole proprietorship) or family member business, I do not
consider them to be a real business, they are classified as a business only
for accouting/tax purpose, in reality, they do not have sign outside they
building to tell people they are a business, even fedex and ups do not
recognize them as a business, their address is not cosidered as commercial (
you still have to pay the residential surcharge)
But what we started to discuss here is to find house (or town house) on good
deal and rent it out as a way to make money (or investment). I can tell you
most people that is renting do not operate a business from home. Most
successful business man do not rent. There is exception to everything, but
one thing is for sure, you can not operate a business that is making a lot
of money from home (unless you are doing something not legitimate)
These are just my personal non-professional opinion and could be wrong, feel
free to correct me.
【在 S*********g 的大作中提到】
: 你太强大了。我们在谈 not open to the public的算不算bussiness
: 你又能扯到这上面来。
: 我投降。
:
: here,
|
i******y
发帖数: 11 | 27 还以为是在说初级的房东报税
您这是高级教程
关键词: 没仓库的神医是非法的
be
is
only
(
good
【在 s****g 的大作中提到】
: Not open to the public的bussiness can be counted as a business for sure. I
: have been to a few private clubs that are not open to public, you need to be
: member or be invited by a member. But the business you are talking about is
: like one person (sole proprietorship) or family member business, I do not
: consider them to be a real business, they are classified as a business only
: for accouting/tax purpose, in reality, they do not have sign outside they
: building to tell people they are a business, even fedex and ups do not
: recognize them as a business, their address is not cosidered as commercial (
: you still have to pay the residential surcharge)
: But what we started to discuss here is to find house (or town house) on good
|
s****g
发帖数: 1028 | 28 没仓库的神医是非法的
That is not what I said. But it is impossible to have 正经大bussiness
operating from a small space in Residential zoning house.
If someone owns a 正经大bussiness and he can only afford to rent or choose
to rent a $1000 per month apartment/house from you is no very likely.
I already said there is exception to everything, so it is possible for
someone only sell items that do not require any storage (like coupon, pdf
document), which they email you or provide a link for you to download.
【在 i******y 的大作中提到】
: 还以为是在说初级的房东报税
: 您这是高级教程
: 关键词: 没仓库的神医是非法的
:
: be
: is
: only
: (
: good
|
S*********g
发帖数: 5298 | 29 This is the key point of our discussion:
According to IRS's link, it is not required to be 正经大 bussiness to claim
your rent as a loss. Even if you are just working from home, you can claim
the rent as your loss.
No one is arguing against your personal definition of 正经大bussiness. As a
matter of fact, it does NOT matter to our discussion of claiming rent as
your bussiness loss.
【在 s****g 的大作中提到】
: 没仓库的神医是非法的
: That is not what I said. But it is impossible to have 正经大bussiness
: operating from a small space in Residential zoning house.
: If someone owns a 正经大bussiness and he can only afford to rent or choose
: to rent a $1000 per month apartment/house from you is no very likely.
: I already said there is exception to everything, so it is possible for
: someone only sell items that do not require any storage (like coupon, pdf
: document), which they email you or provide a link for you to download.
|
s****g
发帖数: 1028 | 30 The rent can be claimed as expense, not loss on form 8829 and schedule C.
Word expense and loss means completely different thing.
In most part of US, if you file Schedule C (claiming you have a business),
your local county or city might ask you to prove you have a license for your
business in the state or city. (operate a business without a license can be
serious in some parts of US). It will also be difficult to get a license if
you put your home address as business address. I already said there are
exception to every rule and some state is loose on this requirement. I am
speaking about in general here.
claim
a
【在 S*********g 的大作中提到】
: This is the key point of our discussion:
: According to IRS's link, it is not required to be 正经大 bussiness to claim
: your rent as a loss. Even if you are just working from home, you can claim
: the rent as your loss.
: No one is arguing against your personal definition of 正经大bussiness. As a
: matter of fact, it does NOT matter to our discussion of claiming rent as
: your bussiness loss.
|
|
|
S*********g
发帖数: 5298 | 31 Yes. You are right. It is expense not loss.
We both agree that one could report his/her rent as bussiness expense.
So your statement that people will NOT report his/her rent in tax form is
not correct.
your
be
if
【在 s****g 的大作中提到】
: The rent can be claimed as expense, not loss on form 8829 and schedule C.
: Word expense and loss means completely different thing.
: In most part of US, if you file Schedule C (claiming you have a business),
: your local county or city might ask you to prove you have a license for your
: business in the state or city. (operate a business without a license can be
: serious in some parts of US). It will also be difficult to get a license if
: you put your home address as business address. I already said there are
: exception to every rule and some state is loose on this requirement. I am
: speaking about in general here.
:
|
s****g
发帖数: 1028 | 32 You are correct. I already said in the beginning I am not a tax professional
and not qualified to give any advice, just my personal understanding.
【在 S*********g 的大作中提到】
: Yes. You are right. It is expense not loss.
: We both agree that one could report his/her rent as bussiness expense.
: So your statement that people will NOT report his/her rent in tax form is
: not correct.
:
: your
: be
: if
|
i****y
发帖数: 5184 | 33 看了半天你们说的我都看不懂，感觉自己太落后了。
各位高人还是讲讲VA这边哪些地方的投资房有好的cash flow吧。 |
x**n
发帖数: 12542 | 34 有好deal早就被这些专业业余的realtor截留了，所以偶都不想了。
【在 i****y 的大作中提到】
: 看了半天你们说的我都看不懂，感觉自己太落后了。
: 各位高人还是讲讲VA这边哪些地方的投资房有好的cash flow吧。
|
s****g
发帖数: 1028 | 35 Guess you did not show up for class when they are teaching the tax law.
【在 i****y 的大作中提到】
: 看了半天你们说的我都看不懂，感觉自己太落后了。
: 各位高人还是讲讲VA这边哪些地方的投资房有好的cash flow吧。
|
s****g
发帖数: 1028 | 36 You are 100% right, that is why you need to find a realtor that does not buy
investment property himself or herself, otherwise you will never get the
best deal.
【在 x**n 的大作中提到】
: 有好deal早就被这些专业业余的realtor截留了，所以偶都不想了。
|
i****y
发帖数: 5184 | 37 你讲的是哪个tax law课呀？
【在 s****g 的大作中提到】
: Guess you did not show up for class when they are teaching the tax law.
|
i****y
发帖数: 5184 | 38 realtor这么有钱？？
【在 x**n 的大作中提到】
: 有好deal早就被这些专业业余的realtor截留了，所以偶都不想了。
|
s****g
发帖数: 1028 | 39 US tax law (personal income tax)
【在 i****y 的大作中提到】
: 你讲的是哪个tax law课呀？
|
i****y
发帖数: 5184 | 40 我每堂课都去了
没讲open to public这事
不过我牢牢记住了rental income是要交税的这一条。
【在 s****g 的大作中提到】
: US tax law (personal income tax)
|
|
|
s****g
发帖数: 1028 | 41 I don't know, but I have several agent friend that does at least 20M per
year in business, so they make roughly 0.6M (or 600K) per year.
Average house price is most DC area is 500K, so that translate to roughly 40
houses per year. Actually 500K inside DC near capital only get you a 200
year old crap row house (very bad shape inside, everything need to be
updated, hardwood floor is only thing you can keep and refinish if you are
lucky) that is not even 2000 sq ft. A decent 1300 sq ft row house (that is
updated) goes for 700K to 800K when I was watch the market. And we are not
talking about nice houses you see in Mclean or Great Falls. (close on 10 of
them a year, you can make more than 1M for sure)
I don't your standard of 有钱, but most working class only bring 120K to
140K per year (Yes I know lawyers and doctors makes way more than that)
I am sure a lot of business owner make a lot of money too(like the owners of
most restaurants you and your LD frequent), but those require money to
startup and hard work and a little luck.
【在 i****y 的大作中提到】
: realtor这么有钱？？
|
