All Forum Posts by: Diane Tycangco

but I borrowed money to use as a downpayment.  I did not use my own money.  when I used a capital gains calculator online, if I put zero money down and put the 2 loans, the cap gains is a lot lower than if I just recorded 1 loan and entered the money from the downpayment loan under cash.

Hello!  I have a question.  If I got a home equity loan for Property 1 and used the proceeds as downpayment for Property 2 and then got a 2nd loan for the remaining 75% purchase price for Property 2, when I sell Property 2, can I use the Property 1 loan as part of the cost basis for computing Property 2 capital gains?

Every month, property 2 has been paying most of the mortgage on that Property 1 home equity loan. The only part that Property 1 pays on that loan is the escrow for property tax & insurance for Property 1.

Thank you for your insight.

I see. How much higher is DSCR vs a conventional loan rate?

Thanks!

Hi Travis, my units are at market rents except for 1 2b1b and 1 studio where tenants have been there for years. If they were at market rent, it would be an additional $900/mo. Which would probably cover the mortgage at 25% down. But so many properties in Fresno are priced similarly and don't even get the rents I get. 

Hello Everyone!  I was talking to an investor who told me if he bought my property, he would borrow money from a hard money lender for a few months and then refinance with a regular lender.  Why would he do that when the rates a hard money lender would charge is astronomical?

Thanks!

Hello Everyone!  I am an agent selling my own 7 unit property in Fresno for $750k.  The cash flow is good but people have complained either it was too old, or bad area.  The area itself is not crime-ridden but my neighbors' properties are rundown.   Admittedly, if someone put down 25%, they might not cashflow but, other properties are priced similarly or much higher.  Some agents told me it's because rates are high and people are not willing to sell their properties with the lower interest rate or people are waiting for rates to come down or waiting for the outcome of the election or economy is bad.  What do you guys think?

Any tips on what I can do to sell this property?

Thanks!

Hello everyone, I am selling an apartment building in California using a 1031 exchange (to buy property in the Midwest) and am wondering if I can use my passive loss carryovers and disallowed losses for that property to offset any boot because I am planning to use the cash pullout as reserves or repair money for when the replacement property is vacant.  Also, can anyone recommend a solid accountant for everyday investors who can provide reliable advice and is reasonably priced?

Thank you! 

Hello, i would like recommendations for a public insurance adjuster in Memphis, TN who will be on my side when dealing with the insurance company.  I have had a claim denied and am afraid of saying or doing the wrong thing and get this new claim denied too. What fees do they usually charge and is it really easier and faster to get results if I hire an adjuster?  Do I get more money for my claim if I use an adjuster.  Thank you.  

Hello everyone, I have a property in Memphis that  suffered through a wind storm and the roof has severe damage so that there is a lot of damage inside the house.  I need someone to guide me through the claims process because I don't want my claim to be rejected.  I am reading the insurance contract and it is very hard to understand.  I would like to ask for recommendations for a claims adjuster and/or someone who could advise me regarding claims.  If we did not cover the roof right away after the wind storm is our claim going to be rejected and it will be recorded in their database and my premium will go through the roof and I won't be able to get insurance elsewhere? 

Thanks

Hi everyone, I currently have a single family home for rent in Memphis, TN that has been vacant for the last 6 weeks.. The rent I am asking for is reasonable $995 for a 4b1b in 38109.  Is the Memphis market really hard to rent right now?  I am worried. 

Thanks