i may have done irreparable damage to my intestines this past weekend. Feels like I've got a chestburster inside me

I'll tell ya what, once I got past the first weekend, not drinking hasn't been a big deal. But facing tomorrow night without sauce is going to be a challenge.

I miss weed a lot. now having given up both for Lent, I'd much rather live with weed than live with booze

Don't tell Calvin.

Barry Jive wrote:i may have done irreparable damage to my intestines this past weekend. Feels like I've got a chestburster inside me

make your way to the nearest hometown buffet and go out in glory.

I remember back in '65 my dad packing the family into the nash rambler and we'd pilgrimage to the only quiznos in Denver.

lethal wrote:...presuming purchasing a new dwelling for the purpose of renting it out and financing it with a 80% mortgage, it should get you into loss territory.

In a simple example, presume that you rent a place out for the exact same price that you pay per month on a mortgage. About 1/4 of that payment is principal and 3/4s is interest and taxes. So before depreciation, you are already deducting 3/4s of your rental income. Depreciation over 27.5 years gives you 1/27.5 per year. Hypothetically speaking, say you have a 100K unit. You borrow 80K to buy it. Per month, the mortgage is $500, which includes taxes of $75 and HOA fees are $25. $300 is interest and $100 is principal. You rent out th eunit for $500 a month.

Thank you. I can see how the calculations work. I can't see how the economics works all that often - things like property owners building residential properties to principally to rent them, or setting their rental rates based on their costs rather than what their market will bear. I can see your scenario working most of the time only if most of the time the foundational conditions you established exist.

februany, jive. jive on.

quiznos makes me shit like crazy.

phatj wrote:I'm planning on having strep throat tomorrow, so today rules

gosh dangit J, I think you passed it on to me

1 wrote:i can't remember the last time i had quiznos. i remember driving to the nearest one (45 minutes away) at least once a month when i first discovered it. then we got a couple nearby, and i hardly ever went.

big hit to your credibility here

you guys have any of these Nike Dri-fit shirts? I bought this Kevin Durant shirt off eBay as half of a joke but the thing is like fine silky awesomeness. picks up a ton of lint but so comfortable

Dry-fit shirts are great for the gym. Only problem is that they are so good at soaking up sweat that they start to stink prematurely. After a few months, there's almost no way to get to stink out.

drsmooth wrote:

lethal wrote:...presuming purchasing a new dwelling for the purpose of renting it out and financing it with a 80% mortgage, it should get you into loss territory.

In a simple example, presume that you rent a place out for the exact same price that you pay per month on a mortgage. About 1/4 of that payment is principal and 3/4s is interest and taxes. So before depreciation, you are already deducting 3/4s of your rental income. Depreciation over 27.5 years gives you 1/27.5 per year. Hypothetically speaking, say you have a 100K unit. You borrow 80K to buy it. Per month, the mortgage is $500, which includes taxes of $75 and HOA fees are $25. $300 is interest and $100 is principal. You rent out th eunit for $500 a month.

Thank you. I can see how the calculations work. I can't see how the economics works all that often - things like property owners building residential properties to principally to rent them, or setting their rental rates based on their costs rather than what their market will bear. I can see your scenario working most of the time only if most of the time the foundational conditions you established exist.

Thanks for the condensation doc, I appreciate it after all the work I put in the response.

I said it didn't work for every piece of property and that if you're thinking about doing this, make sure the economics works out. If rental rates are too low to support the purchase and financing, tax breaks included, then don't buy the property.

The economics above are for small time landlords. The most you can deduct is a $25K loss per year from your Schedule E to your 1040. If you're a larger landlord developing an entire building, presumably you have a business doing this and the tax implications are far different for a corporate 1120. Developers presumably use a REIT or some other similar structure. If you as an individual want to get into real estate of larger commercial buildings, maybe buy shares of a REIT instead of owning your own unit to rent out.

These are all investments and what works for any individual is dependent on each person's circumstances. I'm just trying to explain the tax part in simple, non-tax terms.

jamiethekiller wrote:quiznos makes me shit like crazy.

They serve food, yes

Grotewold wrote:

jamiethekiller wrote:quiznos makes me shit like crazy.

They serve food, yes

like painful shits. the oven baked cheese and dressing just doesn't go well together

Quizno's really is awful.

How do you all feel about Firehouse Subs? I like it OK, but it's overpriced.