QUESTION:
Hello Mike,
I understand your reply of repair versus capital expense so my question must not have been clear...
When I buy a house to resell that will need some repairs, these repairs are a capital expense as the property is not in "service".
To properly see my cashflow in Investor Books PRO when I do a report, I put these fixup costs as an expense (initially). I do this under "repairs and maintenance"
The fixups will eventually be transfered and recharacterized as a capital expense at a later date thus in the meantime allowing my cashflow report to provide useful information for me as an investor.
My question is when do I transfer this to the asset?
Thank you Mike,
Hope that is more clearer-er
Steve
Please log in to view more of this post