All Forum Posts by: Chip Chaunamom

Thank you Brad and Corey for your insight. Selling will come with a hefty tax bill for sure and there aren't many available properties to consider for a 1031 exchange in my neck of the woods. Brad, you make a really good point about knowing the properties inside and out. The tenants have never been late on their rents since they moved in 7 years ago and the properties are easy to maintain. Condos in this area don't require much effort to fill once they become vacant. I'm leaning towards keeping them just because there aren't many deals out there right now where I am (30 minutes north of Boston in Dracut MA.) Thank you both!

Hello everyone. I'd like to get some thoughts on whether it would be best to sell our rental properties and sit on the cash and wait for other opportunities or keep them and take out the equity to have in hand for the same purpose. My wife and I have been fortunate and lucky with timing to be able to purchase a handful of rental properties during the downturn since 2011. In total we were able to purchase 10 condos and one two family property. We sold most of them and currently have 3 condos left. Those condos have about $100,000 each in equity, while the mortgages amounts are far below the rental amounts.

Thank you.

I have a 1 bedroom condo listed for sale in my area. It's a beautiful unit and I've been getting several calls from buyer agents but the first thing they ask is "Is the complex FHA certified?" Well, I checked and as it turns out it is not. It has something to do with the ratio of owner occupants to renters.

Is there anyway around this? If not I believe I will have to go back to renting the unit out. I purchased this unit for $45,000 back in 2012 and now the market has went up significantly and I maybe able to get double that in return. This defeats the whole purpose of why I purchased this if I'm unable to sell it unless I find a buyer with conventional financing other than folks with FHA loans.

No offense but have you considered using a professional designer to create your logo? It's the first thing people will identify your business with. A professional logo won't make or break your business but it will definitely decide how your clients view your business.

I'm certain this is not how you are as a landlord but your logos tell me you like to cut corners and on the cheap side.

A professional logo will add more value for your image in the long run for what you initially pay for in the beginning.