boast to wife
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boast to wife (by BillW [NJ]) Apr 13, 2018 9:35 AM
       boast to wife (by Deanna [TX]) Apr 13, 2018 10:03 AM
       boast to wife (by fred [CA]) Apr 13, 2018 10:07 AM
       boast to wife (by Landlord ofthe Flies [TX]) Apr 13, 2018 10:43 AM
       boast to wife (by razorback_tim [AR]) Apr 13, 2018 11:21 AM
       boast to wife (by razorback_tim [AR]) Apr 13, 2018 11:22 AM
       boast to wife (by BillW [NJ]) Apr 13, 2018 11:32 AM
       boast to wife (by myob [GA]) Apr 13, 2018 11:41 AM
       boast to wife (by BillW [NJ]) Apr 13, 2018 11:42 AM
       boast to wife (by BillW [NJ]) Apr 13, 2018 11:52 AM
       boast to wife (by myoba [GA]) Apr 13, 2018 12:02 PM
       boast to wife (by Vee [OH]) Apr 13, 2018 2:26 PM
       boast to wife (by Pmh [TX]) Apr 13, 2018 2:50 PM
       boast to wife (by BillW [NJ]) Apr 13, 2018 4:26 PM
       boast to wife (by Robert,OntarioCan [ON]) Apr 13, 2018 6:39 PM
       boast to wife (by LindaJ [NY]) Apr 13, 2018 7:48 PM
       boast to wife (by gevans [SC]) Apr 14, 2018 5:18 AM
       boast to wife (by cjo'h [CT]) Apr 14, 2018 11:50 AM
       boast to wife (by cjo'h [CT]) Apr 14, 2018 11:55 AM
       boast to wife (by cjo'h [CT]) Apr 14, 2018 1:51 PM
       boast to wife (by Robert J [CA]) Apr 14, 2018 9:19 PM
       boast to wife (by BillW [NJ]) Apr 16, 2018 5:27 AM

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boast to wife (by BillW [NJ]) Posted on: Apr 13, 2018 9:35 AM
Message:

I just finished taxes and want to boast to my wife how much we made on our rental properties.

Is it fair to tell her how much we made, not including depreciation (a bigger number) or do I tell her how much we made including deprecation? (a lower number)

Seriously, I'm wondering when assessing how well your properties are doing, do you include depreciation, like you do on your tax return?

Thanks!! Bill --68.83.xx.xxx




boast to wife (by Deanna [TX]) Posted on: Apr 13, 2018 10:03 AM
Message:

For me, I tell DH, "This is how much the rents grossed, and this is how much we spent on the biz." Those are the two numbers that interest him the most.

Since we're in a period of aggressive growth, and we buy sad little houses in need of $20-$30k worth of love, we gross about $60k for every 10 houses... but all that flies out the window to Lowes, or the electrician, or the HVAC guy, or the yard guy, or the handyguy. But at the same time, those are expenses that only happen once, and once the reno is online and working, it doesn't need much beyond insurance and taxes and the occasional routine maintenance or turnover costs. --166.137.xxx.xxx




boast to wife (by fred [CA]) Posted on: Apr 13, 2018 10:07 AM
Message:

Depreciation is just a paper expense.

I go by net income, which is total rent minus total expenses, w/o depreciation.

If she wants a new Lexus, wait till December for their famous "December to remember" sale.

BTW, you shouldn't be shocked by your net income. Rents are high and vacancies are low right now. We also work hard for that net income, we earn it the old fashion way. --99.59.x.xxx




boast to wife (by Landlord ofthe Flies [TX]) Posted on: Apr 13, 2018 10:43 AM
Message:

Technically since this is bragging, I'd give her the real number of profits minus expenses, then I'd also inform her of the tax savings. I'd then add the tax savings to the profits and list it as money brought into the household.

If you're going to brag, then BRAG!!! --108.69.xxx.xxx




boast to wife (by razorback_tim [AR]) Posted on: Apr 13, 2018 11:21 AM
Message:

Youíve really got 3 or 4 numbers you could use depending upon how financially savvy your wife is.

One is cash flow and is not related to your taxes. This would be the simplest but she might ask why this isnít what shows up on the return.

Another is taxable income straight off of the return.

Another is EBIDTA - take your income off of your return and add depreciation and interest expense back in.

You should also be measuring your net worth change from year to year. --166.137.xxx.xx




boast to wife (by razorback_tim [AR]) Posted on: Apr 13, 2018 11:22 AM
Message:

One other thing I thought of after I hit submit - why not talk to your wife and see what she thinks of as income. --166.137.xxx.xx




boast to wife (by BillW [NJ]) Posted on: Apr 13, 2018 11:32 AM
Message:

Landlord ofthe Flies, it took a bit to understand what you wrote, but when I did I laughed. Thanks for that.

Deanna, that was the part hard on my wife, when I'd spend $$$k "worth of love" on the properties, and It looked like we were throwing money away. It's nice now to see some substantial profits after the improvements were done.

Yes, Fred I'm going to start shopping now. That RC 350 F Sport looks like a nice choice now the kids are grown.

Thanks - Bill --68.83.xx.xxx




boast to wife (by myob [GA]) Posted on: Apr 13, 2018 11:41 AM
Message:

you don't think she knows? You didn't mention the expense of principal buy down. An expense but a big asset.

If you made that much-- buy her a new car- pay off a car-- a vacation for 2.

Bill my older brother is proof you can't take it with you. He had a gorgeous Rolex watch. When we were standing next to the pine my second brother said see that his watch is gone-- I said yea did you see his older son is wearing it.

Point being he proved you can't take it with you so spend now while you can enjoy it.

I'm 67. my wife and I spend every penny every month-- perfect balance every month. What should we save it for? --99.103.xxx.xxx




boast to wife (by BillW [NJ]) Posted on: Apr 13, 2018 11:42 AM
Message:

Razorback, I did basically your last option, I took income off the return, and added depreciation back in.

How can you justify putting interest expense back in? Isn't it like property taxes, as far as an expense?

And yes, net worth. I posted about this several months ago, and have since given up tracking every personal expense and instead calculate net worth every month. I really enjoy watching net worth, versus why we spent so much at costco. Thanks. --68.83.xx.xxx




boast to wife (by BillW [NJ]) Posted on: Apr 13, 2018 11:52 AM
Message:

myob, since I started tracking our net worth every month, one thing that gets me happy is to see how are principal paydown increases our net worth. Yes, it's a decrease in cashflow, but we're gaining equity.

As for buying something for my wife, I'd say her only want in life is more time. I have taken over quicken from her and this was the first year I did the taxes, and I think she likes that. (as long as I don't screw it up) --68.83.xx.xxx




boast to wife (by myoba [GA]) Posted on: Apr 13, 2018 12:02 PM
Message:

Bill NJ they like us-- but as you point out-- as long as we don't screw up. (which is always in the cards) --99.103.xxx.xxx




boast to wife (by Vee [OH]) Posted on: Apr 13, 2018 2:26 PM
Message:

Ask her if she wants to go fishing, any day of the week. --76.188.xxx.xx




boast to wife (by Pmh [TX]) Posted on: Apr 13, 2018 2:50 PM
Message:

my wife looks for the cash flow.....that is what drives my purchase decisions. sure capex will affect tax paid bc depreciation taken. so long as I continue 30% cash on cash then she is happy. anything less then no buy or I sleep on the sofa... I donít take paper appreciation to the bank so I never factor that in. I donít keep track of monthly net worth. useless calculation. --104.218.xxx.xx




boast to wife (by BillW [NJ]) Posted on: Apr 13, 2018 4:26 PM
Message:

Pmh, if nothing else, I find my monthly net worth report more engaging than today's news.

I'll bet my wife might enjoy fishing if I remove the hook and cook. --68.83.xx.xxx




boast to wife (by Robert,OntarioCan [ON]) Posted on: Apr 13, 2018 6:39 PM
Message:

Depreciation is a double edge sword where very rarely does property depreciate. When the property is sold then that has to paid back so in reality it may not be what it seems. --147.194.xxx.xxx




boast to wife (by LindaJ [NY]) Posted on: Apr 13, 2018 7:48 PM
Message:

My DH prefers how much we get in our pockets after all the expenses and taxes. I like to add up the net worth. --96.236.xx.xx




boast to wife (by gevans [SC]) Posted on: Apr 14, 2018 5:18 AM
Message:

We are living without a "real" job, either of us.

We both do pretty much what we want to every single day.

How can you measure that in dollars?

Our rentals pay all our bills, with plenty left over. that's enough, without putting a $$ amount on paper.

--98.122.x.xx




boast to wife (by cjo'h [CT]) Posted on: Apr 14, 2018 11:50 AM
Message:

I wouldn't analyze it too much,could hurt your head............charlie......................................... --174.199.x.xxx




boast to wife (by cjo'h [CT]) Posted on: Apr 14, 2018 11:55 AM
Message:

myob, there's nothing wrong with a Timex.The minutes pass just the same........cj............................................................................... --174.199.x.xxx




boast to wife (by cjo'h [CT]) Posted on: Apr 14, 2018 1:51 PM
Message:

Bill Wilso, just keep quiet,you're smarter than that..........................cjo'............................................. --174.199.x.xxx




boast to wife (by Robert J [CA]) Posted on: Apr 14, 2018 9:19 PM
Message:

When I let things slip out of the bag, it never helps me it always hurts in the long run. When I told my wife that during the first year together I was able to buy a 5 unit, two homes and made "X" number of dollars, she told her parents. So in turn the parents decided we didn't need help and gave us nothing while giving the rest of their children tons of stuff.

--47.156.xx.xx




boast to wife (by BillW [NJ]) Posted on: Apr 16, 2018 5:27 AM
Message:

Gevans, you make a good point that the freedom we get can't be measured in dollars.

Before I bought my first house I prayed, and the message I received is, if you honor the lord, you will be blessed. I've done my best to be fair in my dealings with people and be honest and treat people with respect (and fallen short many times). I feel very much I have been blessed.

I think sometimes I get focused on how much I can make (and boast about to my wife:-) but it's good to know there's more important things in life than that. --68.83.xx.xxx



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