All Forum Posts by: Carly Turow

@Bill Exeter I'm amazed by the knowledge and helpfulness of this community it is just amazing. That was really helpful information. My mind is going ALL day long and I run into question after question and tell myself "I need to look that up, I need to find that out, I need to ask about that" and this resource is just great - thank you for helping!

When a seller sets up the 1031 before the sale closes, I'm guessing that the net profit on the sale doesn't ever get deposited into the seller's bank account since it's being invested into another property. If that's the case, where does that profit "sit" until it's applied elsewhere?

Thanks again!

@Chris Levarek Wow yes that does help! Is the Capital Expenditures number the % of money that gets put aside for upcoming costs/repairs?

Related to that question, too, I've been wondering: When sudden expenses do come up (fridge breaks, etc) do you as an owner have to come out of your own personal pocket to repair those issues or do you pull the money from another place?

Thanks so much for your help. This site and community is awesome!

Good morning!

After watching a lot of @Brandon Turner videos on BP, I want to practice analyzing listings to decipher good deals from not so good ones. Since I'm brand new (literally just started looking into REI about a week or so ago) there are some numbers and percentages on the calculator that I find difficult to estimate due to lack of experience in this field. Is there a resource (maybe a video or article?) that thoroughly breaks down each component of the calculator and how to estimate those numbers?

Thanks so much! :) I plan to tackle a bunch of listings tonight as homework.

Invaluable!

@Dan Maciejewski Thank you again! Slowly the pieces are starting to make more and more sense to me. 

When someone sells one of their homes/units etc... do they have to pay 40% of their net profit in taxes? I've heard this happens if you sell in under a year. If that's true, what does it reduce to if you hold the property longer than a year? I'm wondering because if I was to flip or improve a home and sold it relatively quickly, I wouldn't want to roll the entire profit into another investment. Do people ever take a portion of the profit as income, pay taxes on only that amount, and put the rest into another investment?  I would think if you always rolled 100% into the next thing, you'd never get to really use your earnings for bills needed, etc.

On a totally different note, I'm curious about something - figure I'd ask. You're up in St. Pete, Tampa area.. I've read that listing prices have risen quite a bit in the past year (?) My boyfriend owns a house in Tampa, and (hopefully) he can get it back on the market asap after getting (again, hopefully) a squatter evicted very soon. I'm hoping it'll sell quickly and off his plate. Do you suggest any resources I can look at that list what features people favor and which they do NOT want, to maybe help avoid delays in selling?

@Dan Maciejewski Here's a market question for you! Something I've been wondering about. I spoke a couple weeks ago to a real estate agent (one of only 2 that I know since I'm new to Fort Lauderdale, Florida) and he told me that the demand around here is so high right now that almost every house he goes to show a client, there are 7-8 other people waiting in line to view the place. I'm not sure what the best source is to refer to in order to see what house prices are looking like right now (and, compared to their actual value..)... 

In general, though, when a market is hot like this, and it's a "seller's market".. is that not really a good time to invest in real estate since places tend to be listed at a higher price? Or, does that not really matter, because when you invest you can always find places that are in bankruptcy, desperate sellers, etc. ?

That was SUPER helpful Dan thank you so much for that feedback! I think you pretty much summed it up and helped solidify my decision. I appreciate it so much!

I'm considering getting my REL in Florida, but not really to become a full-time agent. Rather, I'm interested in real estate investing, but know very little (BP is helping though!) and figured that a REL would:

1. Help me learn a ton about this brand new field to me

2. Open up the possibility of doing my own listings/sales of future properties

3. Allow me to list/sell my boyfriend's house, and seek out a home for my father in FL (save him the RE commission)

My question is (because I can't seem to find a clear-cut answer online)... Once you obtain your REL, do you have to work for a broker to "activate" your license? Is the REL good for nothing unless you become an agent with a company? If so, I'll likely opt-out, and instead, connect with Real Estate Agents in the areas of Florida needed and learn as much from BP as possible.

Any feedback is a huge help!