All Forum Posts by: Collin Perry

@Katie Balatbat @Brad S.

Appreciate it. Thank you!

Here’s my scenario:

Parents have passed away and left 2 sons their primary residence (which was in a family trust). Prop 19 requires one of the sons to make the home their primary residence within a year and file exemption so it is not reassessed from base value + 1M.

Question is how long does one of the sons need to make this home their primary residence? Can they move out and make it a second home after 6 months? 1 year?

Thanks!

@Kevin Sobilo proper notice was given yes. I do mean flex pipe. It appears it was the FIP pipe that came loose.

I have tenants that recently gave notice to vacate. They moved all their stuff out a couple days ago and we’re gone from the apartment for 3 days. They came back this evening to clean and there was water all over the apartment floor and leaking from the hot water heater in one of the closets.

I believe a flex pipe fitting came lose or was damaged due to the tenants moving their personal items out but that’s hearsay. I can’t 100% confirm that.

Located in WA State. How should I proceed with their security deposit?

@Cliff Benner I ended up selling the land. Held for exactly 24 months. 612% ROI all said and done.

@Clint Shelley Thanks Clint!

@Dave Foster Thanks Dave! Really appreciate that!

Sooo have a question for you all. I bought property about 7 months ago that's raw land zoned for 4 units. I got an offer on it that would basically give me 148.2% ROI with everything said and done. Now if I do a 1031 exchange my ROI goes up significantly because I'm not paying the short term capital gains.

Also the property is on a 5/5 arm and my plan was to have it paid off within 5 years before my interest rate changes. I’ve taken a big pay cut at work and still think I could have it paid off in 5 years, but if not. Who knows what rates will do and it makes me a little nervous.

Again at the same time it’s been such a great equity builder and investment in such a little time frame it makes me want to hold onto it.

What do you think I should do?

Newbie here,

I recently acquired half acre of land at a mountain resort in northern Idaho. My plan is to refinance into a construction loan and build 4 units on the property. Looking for advice on the new construction of two separate duplex's or one 4plex. What is the process or what steps should I take to see this out? What are some important building requirements in an area where it snows A LOT? 

I'm very new with new home construction and don't know much about it. Any help, advice, or input is much appreciated.

Thanks!!!

Collin

Thanks everybody for your input.

Much appreciated!