All Forum Posts by: David Hughes

Hey Rob, 

First off welcome, and boy your story sure sounds familiar! 

I've got family in Omaha and just this past week started looking at Omaha to start actively working on real estate investing. We took the road-more-traveled and rented out our primary residence when we first started. 

Best of luck and pleasure to meet you!

Hi Randy!

We're new too, but I'll still welcome you! We're located in Bend and have also been looking out of state. I feel like I can't make the numbers work in our market to make anything positive cash flow. 

We're cross-country landlords and honestly, at first, we had high management tenants and were even considering selling at a loss. We finally had a tenant transition and are now thinking about how to expand!  The current tenant is a breath of fresh air!

We've got dozens on realtor connections here in Bend and over in DC, but they won't be much of a help in Beaverton. 

Best of luck in Indianapolis!

Whoops, already I've proven myself wrong...

"In order to simplify the tax code, the framework eliminates most itemized deductions, but retains tax incentives for home mortgage interest and charitable contributions." 

quoted from treasury.gov

I agree on the wait and see strategy. 

I haven't read the bill or synopsis, but from what I have read I thought the change for deduction on the interest would only effect Schedule-A itemized deductions and not Schedule-E.  I could be completely wrong, but just my understanding and with congress, the final result is rarely what is first introduced. 

Hi Russell,

It is a townhouse in Lakeridge, VA.

Hello,

Need a little advice as I’m still inexperienced in real estate investing. My wife and I took the backdoor to real estate investing and currently have only one investment property in the DC area. We’ve been holding off on selling the house because we bought in 2008 (fortunately after the market was already on its way down) and have been renting it out for the past five years (we moved across the country to Oregon). For first two years we were operating at a loss, now, after one refinance, we’re breaking even (though on our taxes we see a nice loss because of depreciation).

The question is: do I refinance again and keep the house and start making a profit, or do I sell it (1031 exchange maybe?) and wait to find a great deal locally?

The refinance would bring in an additional $200/month, or we could cash out for about $40K.