All Forum Posts by: Allan R.

The next stage in my real estate income is being geared towards new construction. I am predicting more money in selling newly built homes compared to buying, rehabbing, and flipping. 

We are allowed to run 1031 exchanges to defer the tax when selling a lower priced home to purchase a higher price investment. 

Is there a way to do the same when selling a home and using the funds to build a new home?

I will need to sell 2 homes to have enough cash to build the house that will also be intended for sale after built. 

I plan on using all the funds from that sale to build 2 more houses. From there I wall start dipping into the profits. It be nice If I can defer the taxes once again after I sell the new built home to build the other 2 homes. 

Any ideas or thoughts?

Thanks 

I don't know how many times in just the past year either buying or selling real estate these agents love to instead of writing offers just send  verbal offers. This has affected me negatively everytime I run into them but what control do I have. I am at the mercy of to middle persons to reach an agreement until I get my license and can represent myself appropriately. Thanks for your input, I too thought they were looking to have the 89k owner financed. If they are assuming the loan shouldnt there credit take full responsibility of the remainder of the loan? It's a commercial property, I'm really not sure why they dont want to just start the loan over. First 5 years is only 6 percent, real good deal in my opinion. 

Thank you!

Have a property for sale that I owe 130k on the mortgage. Recieved (I'm guessing a verbal) offer that states:

Offer Price:$229,000

DN pay: $10,000

Assume existing loan.

Yes I have already asked my realtor to ask what the buyer means. Any thoughts?

Few years back I began taking online classes with Real Estate Express. At the very minimum this school was a joke. It was just read and then test. No videos or classroom discussions. No interactive learning what so ever. 

Moved to Colorado and signed up with Kaplan/brickwood and WOW. in just 6 weeks I completed my class work, and passed the state/national exam. 

Court is Monday, really cant wait to get this girl out. She is running me $950 monthly losses. Filing the law suit I was only allowed to sue for possession. After possession has been claimed back to me I then can file another law suit, small claims, of the rent she has not paid and any other damages. For me to go through with this it will run me a total of $1040. She owes me $1900. Is it even worth investing the next $560 in the second law suit to claim $900 of rent? I keep hearing that even if a tenant loses in court and is ordered to pay me the rent she owes that seeing the money is slim to none. 

I have been held accountable for my actions my whole life. I expect my tenants to be accountable too. This is a form of theft in my eyes.

Has anyone played with this? 

Tenant gets paid, you get paid. Simple and good for everyone. Landlord gets a peace of mind knowing that no matter what your tenants will be paying rent on time as long as they keep their jobs. It is also an opportunity to collect extra rent having bi-weekly payments as long as the lease supports the extra payments.

Anyone with experience/knowledge setting up deductions out of tenants checks please comment below of how to start and execute the process.

 Texas