All Forum Posts by: Janine Badic

@Jin Lim Yes, very close to the King St Metro station.

If there are more scheduled events I would love to hear about them!

I am agent/investor living in Old town, Alexandria.  If meeting space is an issue I would probably host a smaller meetup at my brokerage!

I would love to attend your meet up when I get back from deployment in October!

I am making the assumption that you have already run the numbers and determined this would be a cashflowing rental either way (whether you financed or paid cash).  If you need a place to live you may want to buy with 20% down and then keep on the look out for additional places to purchase with cash as investments. With $350k, you'd almost out have enough funds to buy a place for yourself (financed) and two more in cash.  :). 

So, I'm in the military and have now moved 3 times in 3 years.  I need advice/validation that I can utilize the US Code 121 Exclusion of gain from sale of principal residence more then every two years if the reason I am moving is due to employment and that I am only taking a partial exclusion (prorated based on amount of months spent in the home OR since the last time I took the exclusion)... does that sound correct?  Thanks.

@Emily Almufti  I would highly recommend hopping on Airbnb and researching what is available in the area of Michigan you are thinking of relocating the trailer.  Notice what types of lodging is available, what features it has, the quality, price, and look at their calendars to see how booked up these properties are.  Definitely need to do some market research into what realistically you could expect to earn via your price per night times nights you could expect to be booked (which could vary drastically by season).

I have an Airbnb in a desirable area but the property itself it quirky.  But it is decorated SUPER cute and uniquely and my guest love that... definitely not a cookie cutter experience!

I also highly recommend that when you look at your budget for remodel, make sure you also have an option B that could support you not Airbnb or moving your property.  Reason being is Airbnb can get annoying/ you could hate it, ST rental laws could change, etc.   Could the #s support you turning the property into long term rental? 

In my case, that is not correct.  There is not max or min loan % but I need to roll over all the funds held by the intermediary in someway (legally), otherwise some or all of the tax exchange will not be tax deferred.

@Dave Foster your response is consistent with the response I received from my intermediary.  Kind of wish I would have looked a little further into how to accomplish this objective before I negotiated so hard with the seller.... oh well!

thank you!

I am not sure if this is in the realm of possible/ legal... but I am purchasing a property for $400k (sold the last property for $320k) via 1031 exchange.  I have $125k sitting with the intermediary.  The property I am purchasing will be turned into a short-term rentals.  Is there a way to utilize some of the $125k for furnishing(furniture and housewares) and upgrades to the property (new flooring, paint, pool)?  I only need to put 20% down and would otherwise be paying for the upgrades out of pocket when I close.  Any advice is appreciated!  Thank you kindly!