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LunarEclipse
Enlil's Official Story


Registered: 10/31/04
Posts: 21,407
Loc: Building 7
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Are Unemployment Benefits Income?
#18778180 - 08/30/13 04:22 PM (10 years, 4 months ago) |
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Oh don't worry Mr. Landlord, even though neither of us are working, we made a ton of money last year. Further, we could work if we wanted too but it's a bit of a drive to make money in the big city. So rent to our slacker asses we have two kids and a fucking "therapy dog" for our loser son. He can't live without the dog so you gotta accept both us, him and the fucking dog. And now!
-------------------- Anxiety is what you make it.
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ManianFH
living in perverty


Registered: 07/06/04
Posts: 14,741
Last seen: 36 minutes
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Re: Are Unemployment Benefits Income? [Re: LunarEclipse]
#18780229 - 08/31/13 02:59 AM (10 years, 4 months ago) |
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I dont know if this is just a rant or not, haha.
Unemployment benefits is considered income, and is taxed as so.
-------------------- notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... " ChrisWho said: "It's all about the journey, not the destination."
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iateshaggy
i haxor 360s



Registered: 05/20/05
Posts: 4,707
Loc: 612 Warf Avenue, next to....
Last seen: 1 month, 9 days
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Re: Are Unemployment Benefits Income? [Re: ManianFH]
#18780762 - 08/31/13 09:55 AM (10 years, 4 months ago) |
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yep,its income even though you already made the money a long time ago and paid it as a tax to the govt. and then they will tax it again when you go spend it.
-------------------- You are a filipina sex goddess who wants to fuck me until I fall asleep, so then you can tickle my balls and see if the legend of my diamond filled nutsuck is true. I am a white man from costa rica, who smells like lime jello.
I can flash/jtag/repair 360's, pm for details.
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LunarEclipse
Enlil's Official Story


Registered: 10/31/04
Posts: 21,407
Loc: Building 7
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Re: Are Unemployment Benefits Income? [Re: iateshaggy]
#18781999 - 08/31/13 04:47 PM (10 years, 4 months ago) |
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Quote:
iateshaggy said: yep,its income even though you already made the money a long time ago and paid it as a tax to the govt. and then they will tax it again when you go spend it.
Oh I know for the purposes of the IRS they tax you to pay for it, then tax you to get it. I was speaking more of a prospective tenant who claimed their unemployment benefits as "income".
For Social Security, it's a question, for unemployment, it's a question of time before the bennies end. Anyway I can't count on that for rent even if the IRS considers it "income".
-------------------- Anxiety is what you make it.
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ManianFH
living in perverty


Registered: 07/06/04
Posts: 14,741
Last seen: 36 minutes
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Re: Are Unemployment Benefits Income? [Re: LunarEclipse]
#18789748 - 09/02/13 12:49 PM (10 years, 4 months ago) |
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if you have unemployed tenants, that sucks. gotta be hard to be a landlord
-------------------- notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... " ChrisWho said: "It's all about the journey, not the destination."
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LunarEclipse
Enlil's Official Story


Registered: 10/31/04
Posts: 21,407
Loc: Building 7
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Re: Are Unemployment Benefits Income? [Re: ManianFH] 1
#18793502 - 09/03/13 08:59 AM (10 years, 4 months ago) |
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Quote:
mick said: if you have unemployed tenants, that sucks. gotta be hard to be a landlord
Actually they were applying and using their unemployment benefits as "income".
But yeah it's hard to be a landlord, and when everyone is so stretched thin it makes it even more "sketchy". Like an applicant who has a house where they live now and will still have a mortgage until it sells. And two kids. And rent to me. And of course the ever present dog that every single applicant bar none has had. Fucking dogs. God dam fukking dogs and their shit and hair. Then people try their "you got to take me and my dog cause it's a therapy dog". Therapy dog. That was the other reason I said no to the unemployed people their son has to have his "therapy dog" and I am somehow obligated to go along with that shit.
Anyway sorry for the rant I just get tired of dealing with a bunch of problems. How come everyone is broke, yet drives such nice cars and has the best of everything? And if I hear "just student loans" as being a meaningless debt I think I will kill someone's fucking dog.
-------------------- Anxiety is what you make it.
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ManianFH
living in perverty


Registered: 07/06/04
Posts: 14,741
Last seen: 36 minutes
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Re: Are Unemployment Benefits Income? [Re: LunarEclipse]
#18797634 - 09/04/13 01:01 AM (10 years, 4 months ago) |
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theyre broke because they lease BMW 5 series cars, and run up their credit cards buying nice shit.
I can relate with you about the dogs man. I am not a fan of those stinky, barking little beggars. My gf has a mini pincher in her apartment, and everytime i come over it gets so excited it pees all over the floor. Every now and then ill wake up and walk around barefoot on the carpet and step right on a big wet spot. Fucking nasty man.
Cats on the other hand, love em
-------------------- notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... " ChrisWho said: "It's all about the journey, not the destination."
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
Posts: 23,419
Loc: city of angels
Last seen: 9 minutes, 6 seconds
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Re: Are Unemployment Benefits Income? [Re: ManianFH]
#18801703 - 09/05/13 12:40 AM (10 years, 4 months ago) |
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mick said: Cats on the other hand, love em
LOL, I step on more nasty surprises from the cats than the dog, hands down. In either case, they're furry creatures that are going to make a mess from time to time.
As for being a landlord, if you're in a nice area with a lot of demand, it's generally smooth sailing. Not always to be sure, when it rains it pours. But for the most part, rental income is a solid way to go about securing financial independence for the present and/or future.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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Gilgamesh18
Herbivore Man

Registered: 03/01/12
Posts: 11,671
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Re: Are Unemployment Benefits Income? [Re: geokills]
#18802465 - 09/05/13 08:24 AM (10 years, 4 months ago) |
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Quote:
geokills said:
Quote:
mick said: Cats on the other hand, love em
LOL, I step on more nasty surprises from the cats than the dog, hands down. In either case, they're furry creatures that are going to make a mess from time to time.
As for being a landlord, if you're in a nice area with a lot of demand, it's generally smooth sailing. Not always to be sure, when it rains it pours. But for the most part, rental income is a solid way to go about securing financial independence for the present and/or future.
How do you feel about borrowing as much as you can from the bank to finance multiple rental properties?
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
Posts: 23,419
Loc: city of angels
Last seen: 9 minutes, 6 seconds
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Re: Are Unemployment Benefits Income? [Re: Gilgamesh18]
#18803510 - 09/05/13 02:13 PM (10 years, 4 months ago) |
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The use of credit financing for real estate is absolutely appropriate (most people wouldn't be able to enter the market otherwise), though I wouldn't feel comfortable stretching myself to the max aka "biting off more than I could chew." What it really comes down to is being able to make a realistic analysis/projection of the net income return on the property under consideration, after accounting for regular maintenance expenses, taxes, insurance and vacancy allowances. Compare your projection with the monthly cost for the financing that is available to you, and don't forget to consider the area the property is located in... Has it historically been able to retain most of its value during market downturns? Is there a growing population of stable families and working professionals or is the population more transient and not as secure? Only then can you make a confident decision as to whether the credit available to you for purchasing a property is likely to work in your favor.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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iateshaggy
i haxor 360s



Registered: 05/20/05
Posts: 4,707
Loc: 612 Warf Avenue, next to....
Last seen: 1 month, 9 days
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Re: Are Unemployment Benefits Income? [Re: geokills]
#18803904 - 09/05/13 04:00 PM (10 years, 4 months ago) |
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honestly i know a lot of people in the rental game and i hear the same story over and over. it is a long term investment. until the loans are paid off you are lucky to break even. to make matters worse, there are land lords out there who arent under loans and they get the pick of the litter on tenants because they can compete on price and you have to make mortgage payments.
-------------------- You are a filipina sex goddess who wants to fuck me until I fall asleep, so then you can tickle my balls and see if the legend of my diamond filled nutsuck is true. I am a white man from costa rica, who smells like lime jello.
I can flash/jtag/repair 360's, pm for details.
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LunarEclipse
Enlil's Official Story


Registered: 10/31/04
Posts: 21,407
Loc: Building 7
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Re: Are Unemployment Benefits Income? [Re: iateshaggy]
#18806811 - 09/06/13 10:07 AM (10 years, 4 months ago) |
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Quote:
iateshaggy said: honestly i know a lot of people in the rental game and i hear the same story over and over. it is a long term investment. until the loans are paid off you are lucky to break even. to make matters worse, there are land lords out there who arent under loans and they get the pick of the litter on tenants because they can compete on price and you have to make mortgage payments.
well this is true. and a great observation.
not only can the "rich" landlords charge a little less, they are a little less likely to raise the rent in all likelihood.
update on my situation, turning down the dogs, and waiting for the real tenant may be paying off. got a good prospect now, finally.
oddly enough, wording is just so critical when placing an ad. i am getting better at it and this latest one is pretty dialed. gotta eliminate the scrubs with wording, attract a good tenant, and never mention restrictions like no pets up front. hell everyone got some little scrub dog pees on the carpet almost a given.
-------------------- Anxiety is what you make it.
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LunarEclipse
Enlil's Official Story


Registered: 10/31/04
Posts: 21,407
Loc: Building 7
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Re: Are Unemployment Benefits Income? [Re: ManianFH]
#18806838 - 09/06/13 10:13 AM (10 years, 4 months ago) |
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Quote:
mick said: theyre broke because they lease BMW 5 series cars, and run up their credit cards buying nice shit.
I can relate with you about the dogs man. I am not a fan of those stinky, barking little beggars. My gf has a mini pincher in her apartment, and everytime i come over it gets so excited it pees all over the floor. Every now and then ill wake up and walk around barefoot on the carpet and step right on a big wet spot. Fucking nasty man.
Cats on the other hand, love em
I love my latest cat, even after he repeatedly pissed on my walls, and once directly on my chest while sitting in my lap. Can you believe it? Last night same knucklehead cat brings in a live mouse at 3 am and plays with it for an hour in my bedroom before I finally give up. Then finally munches it in a show of power at about 5 am and goes to sleep on the bed.
Now, who is boss in my house.
A. Me. B. Not me. C. Cat. D. Mouse.
-------------------- Anxiety is what you make it.
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iateshaggy
i haxor 360s



Registered: 05/20/05
Posts: 4,707
Loc: 612 Warf Avenue, next to....
Last seen: 1 month, 9 days
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Re: Are Unemployment Benefits Income? [Re: LunarEclipse]
#18808071 - 09/06/13 04:27 PM (10 years, 4 months ago) |
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i will say this though, as traditionally against renting houses as a short term investment i am, now is the time. there are so many good people who got screwed by the banks over the last 5 years that many would be home owners are now renting houses, the key is to figure out who has fake bad credit scores and who has legit bad credit scores. also, u need a great plumber and ac guy in your pocket from the get go. before buying any investment property, have all the sewer lines camera'd and the ac inspected. first thing i look for on an ac is how the condensate line is ran. if i see a direct connection to the sewer or sewer vent that is a huge red flag in my book.
-------------------- You are a filipina sex goddess who wants to fuck me until I fall asleep, so then you can tickle my balls and see if the legend of my diamond filled nutsuck is true. I am a white man from costa rica, who smells like lime jello.
I can flash/jtag/repair 360's, pm for details.
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encryptor


Registered: 05/15/03
Posts: 1,154
Last seen: 18 days, 18 hours
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Re: Are Unemployment Benefits Income? [Re: iateshaggy]
#18813576 - 09/08/13 12:07 AM (10 years, 4 months ago) |
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unemployment payments are known as unearned income.
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LunarEclipse
Enlil's Official Story


Registered: 10/31/04
Posts: 21,407
Loc: Building 7
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Re: Are Unemployment Benefits Income? [Re: iateshaggy]
#18815558 - 09/08/13 03:08 PM (10 years, 4 months ago) |
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Quote:
iateshaggy said: i will say this though, as traditionally against renting houses as a short term investment i am, now is the time. there are so many good people who got screwed by the banks over the last 5 years that many would be home owners are now renting houses, the key is to figure out who has fake bad credit scores and who has legit bad credit scores. also, u need a great plumber and ac guy in your pocket from the get go. before buying any investment property, have all the sewer lines camera'd and the ac inspected. first thing i look for on an ac is how the condensate line is ran. if i see a direct connection to the sewer or sewer vent that is a huge red flag in my book.
who to decide to rent to is always a business decision, but for me at some point the investment is about return.
lately getting top $$ rent has become a bit of a bitch. now, this could change as rates go up. but for now where i live, people are stretched, and to get the big money rent is all the harder.
sewer lines in my area not a huge deal, and cross connection from the AC the same. But interesting...
-------------------- Anxiety is what you make it.
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