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Is investment property tax deductible?

Dave Farquhar Landlording April 2, 2021March 20, 2021 1 Comment

I’m a landlord, so I can vouch that there are certain tax advantages to investment property. But it can be a bit complicated. Here’s one question that isn’t as straightforward as it sounds: Is investment property tax deductible?

You can’t write off the purchase price of your property on next year’s taxes. What you can do is depreciate the costs of the property over a span of 27.5 years, so that’s why I say the question of whether investment property is tax deductible isn’t a simple yes/no question.

Questions landlords ask

Dave Farquhar Landlording December 23, 2020December 18, 2020 0 Comment

Applying to rent can feel like a job interview sometimes. And like a job interview, it helps to prep for it, so you’re not caught off guard. And if you’re a landlord, it helps to ask certain questions so you know if you found the right candidate. Here are some common questions landlords ask, and why.

Are home warranty plans worth it?

Dave Farquhar Landlording, Saving money January 30, 2020January 19, 2020 0 Comment

Are home warranty plans worth it? Do you need a home warranty? As a longtime home owner and landlord, I have experience with home warranties. Here’s when I’ve found they’re worth it, and how I decide when to go without.

Offering a home warranty certainly makes your home more marketable when you’re selling. But when it comes to buying one myself, I don’t bother anymore. Here’s why.

Is buying a house an investment?

Dave Farquhar Landlording December 9, 2019March 3, 2020 0 Comment

While investing in real estate is a common path to wealth, is buying a house an investment? Here’s what you have to consider. It’s not a simple yes or no answer.

By default, buying a house is not an investment, at least not without explicitly planning to make it one. That doesn’t necessarily mean buying a house is a bad idea, however.

Peeling or alligatoring paint problems: How to fix them

Dave Farquhar DIY, Landlording June 26, 2018July 3, 2018

If you buy an old house, chances are you will run into alligatoring paint, cracking or peeling paint, or a combination of those three problems. It’s tempting to just slap another coat of paint on top of the bad paint, and if you do, it will look better for a while. But it only takes a couple of years, or even a few months, for alligatoring paint problems to start coming back.

I’ve had people tell me I needed to strip all the paint off one exterior wall of my house. I’ve had others tell me I needed to replace the siding entirely. Fortunately, there’s a better way. There’s plenty of advice out there on dealing with failing paint, but the problem is, nobody seems to mention where to buy the stuff you need.

Would you rent to someone with bad credit?

Dave Farquhar Landlording June 22, 2018July 4, 2018

A fellow landlord called me up the other day to ask about a prospective tenant. It led to a few different questions. The one that prompted the longest-winded answer from me was this: Would you rent to someone with bad credit?

Maybe. I’m not the type who lets credit be the deciding factor, necessarily. But if there are other red flags, bad credit certainly doesn’t help. I’ve given advice to would-be renters with bad credit, after all.

What is satin finish?

Dave Farquhar DIY, Landlording June 13, 2018May 28, 2018

What is satin finish? Satin can be a very versatile finish for renovating a home, whether you’re talking paint, polyurethane, or hardwood floors. It has some disadvantages but also has notable advantages in most cases. Let’s take a look at what satin finish has to offer.

And sometimes when people talk about satin finish, they’re talking about the screens on mobile devices or computer monitors. I’ll cover that too.

How much rent should I charge?

Dave Farquhar Landlording April 20, 2018April 8, 2018

Today let’s tackle the most fundamental question a new landlord might ask. Ideally, it would be one of the first questions to ask: How much rent should I charge?

The math is surprisingly easy. So I’ll tell you the math first, then I’ll tell you the reason.

Why my house didn’t pass inspection

Dave Farquhar Landlording November 1, 2017March 13, 2021

While getting a rental house ready for a new tenant, we had to get it reinspected. It failed, on several minor issues. Most failures are due to minor issues. Here’s why our house didn’t pass inspection, and what we did to fix it.

None of these issues ought to be showstoppers. If you’re not comfortable fixing it yourself, a competent handyman can fix these types of issues, and it probably won’t take more than a couple of hours.

Best brand of paint for rental property

Dave Farquhar Landlording October 10, 2017October 24, 2020

The best brand of paint for rental property depends on a couple of things. But you definitely can make your life easier by choosing the right paint, primer, and supplies. Here’s my experience with painting rental property.

I actually care a lot more about the brand of primer and the grade of supplies. Here’s why.

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