Podcast 228

This week we’re covering three recent news articles that have popped up. Listen in for a wild landlord story, the importance of the L-train, and some tax breaks all the way from Ireland.

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Show Notes:

00:00 – 0:48 Eric and Steve introduce the episode.

0:49 – 3:24 Daily Mash article. Landlord won’t allow pets, shoes on the carpet, or toasters. However, he refuses to fix a hole in the roof, because it would cost so much more than the “bucket-solution” that’s currently working.

3:25 – 6:03 The same landlord goes on to tell the tenant that the shower won’t be getting fixed because the tenancy agreement states that the tenant should get a gym membership.

6:04 – 6:35 Be a good landlord. Fix your home up especially if your tenants are paying you good money to do so.

6:36 – 8:54 Story from therealdeal.com. Landlords lower their rent prices as the L-train closes down for updates until 2020.

8:55 – 12:16 As rent prices drop this is an excellent investment opportunity. Buy Low and Sell High. “Opportunity Zones” areas where there is a good chance for investors to get in on the ground floor of neighborhoods going through revitalization. Stay tuned for a future project that will go more in-depth on the subject on the RentPrep for Landlords Facebook.

12:17 – 13:07 If you are going to buy property, make sure you are aware of any looming projects. These can dip into any profits. Set aside a 15% safety net in case of any projects that could affect your cash flow.

13:08 – 14:27 A short Connor McGregor fight recap. (Sorry to his fans)

14:28 – 15:26 Irish Examiner story. Landlords will be given a 100% mortgage interest relief on any loan that is used to pay for a rental property for next year. It allows landlords to write off 100% of their mortgage interest repayments on loans used to buy the property. 4% annual capital gains tax relief capped at 5 years for landlords who buy and retain a rental property where people are already living. Part of a huge Affordable Housing scheme.

15:27 – 19:14 This is a shift to privatized low income program, it moves away from government ran projects. The government gives huge incentives to landlords.  The U.S. has been doing something similar. A great opportunity to get some guaranteed rent payment and tax benefits.

19:15 – 20:00 Shout out for connections on Bigger Pockets. Connect with RentPrep on Bigger Pockets and shoot us a private message to get a free bandana for being a loyal podcast listener!

21:01 Eric and Steve close out the show. Thanks for listening and tune in next week!

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Resources Mentioned in this Episode:

Landlord Waterfall Story

https://www.thedailymash.co.uk/news/society/landlord-wont-allow-pets-but-will-allow-fk-off-hole-in-roof-20181008178053

Train Down = Rent Down
https://therealdeal.com/2018/10/03/williamsburg-commercial-landlords-latest-to-drop-prices-ahead-of-l-train-shutdown/

Ireland’s New Housing Program

https://www.irishexaminer.com/breakingnews/ireland/budget-2019-landlords-set-for-tax-breaks-worth-millions-874258.html

About the author

I believe the biggest mistake you can make in life is not learning from them. I've been a landlord since 2009 and still learning all the time.

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