All Forum Posts by: Dan M.

Welcome Zak!  That area has seen some major growth in the past few years. I would say find a calculator online - there are plenty of free ones - and start analyzing properties at random. Even if its a horrible investment, youll understand the numbers much better by actually doing analysis. Id recommend at least 5 per day. 

Then there are the podcasts, where they go through the financials in the deal deep dive section which can give you a good overview.

What questions do you have about financials? You can send me a PM if you feel uncomfortable posting it. 

WARNING I AM NOT AN ACCOUNTANT AND MY ADVISE IS MY OPINION ONLY AND NOT NECESSARILY FACT CONSULT WITH A LAWYER AND OR ACCOUNTANT

From my understanding you pay back depreciation during the years you took it when it was rented no matter what. The capital gain is exempt up to 250 from the cost basis wherever it stands provided you can prove you lived there if challenged 2 in the last 5.  

I got an 11 showing so I'm doubling down this year.  

I mean its math at the end of the day. Lets say you sold that new rebuild for 1 million and it costs 600,000 to build. 450+600 > 1.0 so in that case Id say no. How easy is it to sell as it is vs how easy will it be to sell at 1M + ? 

Personally speaking I thing LI is super over valued and there's a ton of traffic. Maybe having an affordable option would be better to someone as a purchaser. 

Id buy it in a heartbeat, assuming there's a price reduction premium for it. The crazy person responsible is dead. Ghouls, goblins, ghosts or spirits aren't going to stop me from buying a deal. 

Good job Luca. Are you doing any value add or leaving it as is? 

Theres all sorts of products out there. Some lenders will offer you 100% financing but it will be expensive money to borrow. 

The larger question I think is are you going to make it a primary residence or is this strictly an investment property? Generally speaking a commercial property/loan ( or anything owned by an LLC ) through a bank is going to require at least 20% down.

Ask yourself why are they selling? What do they know that you dont? 

Hello Jen

1) How so many people have no clue, and most customers are going to freak out when buying their first home ( I did, too )

2) I think you MUST keep your day job until your comfortable enough to plunge in full time. You never know when your next commission check is coming. Keep in mind you have to pay taxes on that income as well it doesn't automatically come out. 

3) I think as a macro market if rates actually do come down we will see another surge in spring/summer and strong market pricing. People have been casting doom and gloom since Covid, since 2008, and everyone who bought during that time become filthy rich. The people still forecasting doom and gloom are still sitting on the sidelines. Be a player in the game don't sit on the sidelines. 

Without becoming to analytical you should invest in the market that gives you the best return with the least amount of risk.