All Forum Posts by: Brett Lee

I have 2 houses on 1 lot in the Seattle area i am planning on sell and reinvest in another house. I am probably selling our houses for around $325k and the house i am planning to purchase is 280k. My understanding is the new house purchase needs to be more then what i sell hoyse for. However i saw that there is some sort of construction provision that allows a person to use some of equity on new house. Wondering if anyone has advice on whether this would work with 1031 exchange? Also any tax experts who specialize in 1031 exchanges would be appreciated!

I'm looking to rent a house out short term for a couple of months. Has anyone had success renting corporate rentals the two or three months?

@Curt McClements Where did you put your house up for rent? Zillow? Craigslist?

@Thomas S. Thanks for your feedback and advice. I think i need to take the emotions out of this house and just look numbers

@Curt McClements We actually rented this house for about 3 of last 5 years... So i am thinking sell to avoid capital gains. I wonder how i need to prove i was there for at least 2 of the years?

@Nathan G. Our payments are high because our taxes around $400 per month. Our interest rate is 3.75 We actually pulled a heloc on this home which is where we are getting our down payment for our new house.

I am planning on selling a house this spring that I have close to being paid off. Is it more benificial long term to sell owner financed OR simply put up for sale with typical financing. Any advice or first hand experience would be helpful!

@Jon Arsenault Thanks for the input Jon!

@Saul L. Yep... Its called "burn to learn"

I have a house that is worth about $350,000. I owe $85,000 on the house. It is in a very desirable neighborhood and rents would go for between 1600 and 2000/ month. Our interest rate on the loan is 3.75 and our house payment is about $900 per month. We are in the middle of buying another house that will be fairly High house payments for us. Wondering if I should rent out our house and put the rental income towards our new house payment or if I should sell and put that money towards lowering our new house payment by recasting the loan? Open to different ideas and strategies just wondering what your thoughts are as I am thinking about what to do next