All Forum Posts by: Chue Kue

Hello,

Just wanted to know if you guys might be able to clear some things up for me.

When u pass down rental properties to your kids when u pass away, what kind of tax are they required to pay if they decide to keep it as a rental property? Any way to structure the deal so they don't have to pay any taxes if they don't sell and just keep it as a rental property?

Thanks

Chue

Thanks Julie. I don't use cap rate as well for my single family. I've just been following the 1 percent rule and try to make sure I stay above that :) I noticed that you are a hard money lender... do you lend to investors who invest in MN?

I have 10k still in property number 1. As for property number 2 and 3 I did a cash out refi already and have taken all the money that I put in out of the properties. Reason why the loan amount on property 2 and 3 is higher. 

 Property number 1: estimated annual expense which includes taxes, insurance, trash utility, maintenance and vacancy is around 6,000.00

Property rents for 1400 a month. 1400 x 12 months is 16,800. 

annual net income is: 16,800 - 6,000 = 10,800

Purchase price of home was 70k with 20k rehab is 90k all in. 10,800/90,000 =  12% cap rate

Property 2 and 3 have a cap rate of 11%

Nope. I purchased it with conventional financing. 

Property number one: 80k conventional loan with property appraised last year for 179k. Currently renting for 1400 a month

Property number 2: 100k conventional loan with property appraised last year for 169k. Currently renting for 1450 a month

Property number 3: 100k conventional loan with property appraised at 160k. Currently renting for  1400 a month

Hello, my name is Chue and I am looking for any tips and advice that can help me take my real estate portfolio to the next level. I'm a buy and hold investor. I currently have 3 single family home in MN that I am renting out to section 8 tenants. My goal is to create enough passive income to become financially free. I'm willing to try multi family investing since the real estate market where I'm investing has gone up in price. Thanks and let me know if u want to connect.