Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Jason S

Jason S has started 10 posts and replied 23 times.

Post: Rent or Sell primary residence?

Jason SPosted
  • Accountant
  • Oklahoma
  • Posts 23
  • Votes 1

I plan on moving within 1 year and am leaning towards renting my current house out when I move, should I? I plan on buying more rental properties in the future. However, I didn't know if it would be more sensible to sell my primary residence and use that $ to put down an even bigger down payment?

My situation: I have 1 rental property now value approx $60,000 Mortgage payment including taxes/insurance $410. I collect $600 in rent.

My current residence just appraised at $81,000 and current Mortgage including T& I is $575 and based on comparable rents in my neighborhood I believe I could rent it between $750-800.

I have been saving for large down payment (approx 50% down) on a newer house within 1 year's time. Could I get some input on what would be a better choice long term- as I would like to have rental properties as part of my long term retirement plan.

Are these properties cash flowing enough or should I sell 1 or both and put down even more $ down or invest elsewhere.

Primary residence paid $63,500 6 1/2 years ago current appraised value $81,000

Current Rental property(wife's former house) paid $50,000 5 years ago market value approx $60,000.

Sorry this is so worded. Please let me know what other information I could provide in order to receive your best advice, input.. All comments, input, suggestions.. Greatly appreciated.

Thanks in advance.
Jason

Post: Asbestos siding question?

Jason SPosted
  • Accountant
  • Oklahoma
  • Posts 23
  • Votes 1

I am new here so I apologize in advance if I posted in the wrong forum. I have a rental property that was built in 1951 and still has the asbestos siding on it. My question is: can I put vinyl siding over it or does it need to removed first? There is no damage to the asbestos that I can see. However, it is in need of painting. I plan on holding onto this property long term and didn't know if it would be cost efficient to put vinyl siding up or just paint it? I know that cost will vary from contractor to contractor and state to state. But has anyone had any experience with asbestos that can give me a ballpark on cost of putting vinyl siding up. The home is small (approx 800 SF). Please let me know what additional information is needed for a valid response. And thanks in advance for anyone that takes time to give me any advice.

Post: Hello from Oklahoma City

Jason SPosted
  • Accountant
  • Oklahoma
  • Posts 23
  • Votes 1

Just saying Hi from Oklahoma City. I am curious how many other native Oklahomans are on board?