All Forum Posts by: Joseph M.

Thanks @Jason Lee and @Edward Verdel I would have been able to get about $157,000 but decided to hold off having a very stable tenant in there with over 2 years left on the lease and only having had the property for about five years.

The zip is 07732 so if any investors can give me an idea (based on the numbers I gave) what kind of purchase price would make this a suitable investment for them, please let me know. 

The actual selling price of this unit can vary by 10% or more in this area based on how long one is willing to wait. The comps vary widely and I can do the same work that a realtor could. I am more looking for an answer from an investor of what kind of return they would need buying a unit in the 07732 area code with a stable tenant with two more years on their lease (that counts for something comps won't take into account) and what you would need to purchase the unit for based on just the numbers I have given. 

Thanks

@Max Gradowitz

I am just asking from an investor standpoint. I guess my question should have been, what would this unit be worth to you for a pretty hands off investment.

I should also add it is in great shape and won't need any work other than maintenance items for a while.

@Marc Middleton

I may have an opportunity to sell one of my rentals and deciding on a price. It is hard to find an exact comp, but units that are 2 bedroom, 1 bath are going from about $150,000 - $250,000. 

Below are the numbers. What would you price the unit at? 

The unit is across the street from the Ferry to NYC, has partial views of NYC and the Bay.

Taxes: $291/month

HOA Fee: $411/month

Rent: $1,600/month - 2 year Lease just signed with great tenant that has been there for 3 years

If I sell an investment property can I use those funds to refinance another property to do renovations?

For example: I sell a $200,000 condo with no mortgage debt on it. Then I refinance a property that I already own to do a renovation on it. I live in this property, but at some point plan to sell it and make a profit. Would that satisfy 1031 exchange requirements?

good point @Basit Siddiqi Some of the money was a prepayment for 2017 rent and the rest was a deposit for 2018 rent which would be applied to 2018 on January 1 after an inspection. 

I currently own a rental property in my name and was paid in advance for rent. I asked my accountant if we could account for it on an accrual basis and he told me that I wouldn't be able to. Can anyone provide some insights around this, as I am currently showing a good deal of profit which is lowering my tax return significantly? 

Thanks @Steve Shafer

That makes sense @Sam Grooms Thanks. My properties are within 50 miles of NYC near the shore and in Colorado within 1 hour of Boulder and Fort Collins, so I think 3% would be a safe estimate for appreciation.

That sounds like a nice middle of the road strategy @Sam Grooms . The reason for wanting all three is because I am evaluating if I want to buy any more real estate and I would like to have some kind of confidence interval of my likely outcomes so I can make that definitive decision. With small percentage changes making such a large impact over time, it feels like just having 3% across the board leaves a lot of information out when dealing with a portfolio of over $1 million and a time horizon of 30 years+.