As I was sitting here on a dark and rainy Friday morning seething quietly after cutting a check for a $1825 special assessment from my condo’s governing HOA, I realized it’s been a few days since I posted anything. What can I say, rage, it seems, beings out my inner soul as a writer – or maybe it’s just the catharsis I need after getting gang banged by a homeowners association board who must have been holding on to a shit ton of proxies when they voted.
I’m always curious about those who see rental income as a surefire pathway to wealth. Maybe it is under certain circumstances – if you’re local and can do many of the repairs yourself, if you paid cash and aren’t using at least a portion of the rent to make the note, or if you aren’t governed by an HOA that’s at least as good at spending other people’s money as the United States Congress. I’ve been renting out this condo since 2003 and I’ll admit that there have been a few good years – those years when nothing breaks and there’s no damage to be repaired. Those years are the rarity. Far more often it’s a break even proposition where you’re lucky to be about $500 into either the black or red by year’s end. Then, of course, there are those years where you end up pouring your own cash into the place hand over fist. No one talks about those years when they tell you what a great idea it is having a rental property.
At least the bastards got the bills out in time to use the whole damned mess as a 2018 deduction instead of having to wait an additional year to recoup a few pennies on the dollar. When your “bright slide” is consoling yourself that you have something to help offset the decreased federal deductibility of state and local taxes, you’ve really got to rethink the whole plan from start to finish.
This dark and rainy Friday is going to largely be about resisting the temptation to drive down there and nail a for sale sign to the door and being done with the whole bleeding mess.
1. Tax reform. This country needs real reform of the tax code. Whether you fall into the “tax the rich in oblivion” camp or find yourself in the “Why the hell do 50% of Americans not pay a penny of income tax” team, the need for reform is the one thing we all seem to have in common. The terms of the current Republican tax plan are still largely shrouded in secrecy, but I’ve already seen two items kicked around that will be will mean I can’t support it as long as they’re in play. I’ll be writing my representative this weekend to let him know that the home mortgage deduction and state/local tax deduction are non-negotiable points for me. Those are two big pots of available cash and I know how tempting that must be for the average politician to put their filthy hands all over… but still, going after two of the most popular deductions around feels like just about the most tone deaf way to get the process started.
2. Temptation. There was beer at work today. Sort of. It was the start of this year’s Oktoberfest celebration – an event that my employer has a tremendous amount of love for, which I can only assume comes from the number of employees who have spent some part of their career in Germany since 1945. Look, if the option is to go sit around listening to oom-pah bands and knocking back cold beer or stay at my desk and pretend to be interested in email, well, there’s not really much of a competition. The problem comes when you’re a few drinks in and everyone is starting to get a little lubricated and entertaining. That’s when the little voice in my head trips an alarm to remind me that it’s probably time to go before I say something that’s both funny and true, but wholly unprofessional. The real temptation, though, was to stick around just out of curiosity to see what offensive or inappropriate sound bite might come flying out of my pie hole.
3. Jared Kushner. Having spent a good portion of 2016 being hot and bothered by Secretary Clinton and her email server, it’s only fair that I call out Jared Kushner in his capacity as Senior Advisor to the President. His use of private email to conduct official business should be investigated by Congress. His files and records should be subpoenaed. If there is evidence indicating he has broken the law, he should be charged criminally and tried. While I’m on the subject, I’ll remind those on the left screaming for Kushner’s head, that there is a world of difference between official email and classified message traffic. That being said, it’s apparently impossible to keep either one on non-government servers. Asshats.