All Forum Posts by: Ed Caldwell

@Bill BrandtAll good points, but the goal was to lock in the gains in a very over priced market and move the money to better returns. I want to go into my first multi-family to go bigger. Just having trouble identifying a property with a decent cap rate in this market. Forcing a bad investment can lose money faster than paying the tax and waiting for great buying opportunities with cash.

Process of cashing out a long ten rental. Great time to sell! That said, I can’t seem to find a decent multi family to roll onto at a decent cap rate and lock on the lower lending rates. The option of to pay the tax and park the cash till the correction coming and buy back in at better prices for cash flow. Thoughts?

@Brian Tunnell I am at the beginning of doing a 1031 exchange and would like to find a good triplex or quad to exchange up to. They just seem in short supply these days. Otherwise I will just split into additional SFR. Timing is tight at 45 days to identify properties once started. Any insight would be appreciated.

Lease is up at the end of November under Sect 8.  Property is off 39th Ave and Glendale next to a park and just down the street from downtown Glendale.

I am looking into a HELOC, but am finding that difficult for an investment property. Any suggestions on lenders willing to do HELOC on rentals?

Thanks!

I purchased 10 houses at auction over time.  VERY DANGEROUS if you buy sight unseen.  Most turned out great, that is until I lost $30K on one that needed torn down and rebuilt. Most investors use a bid company and pay them a commission if you win the bid.  That way you are not wasting your time on any that postpone if you are sitting there or if you get out bid.

Hope this helps.

Under FHA I believe you only have to live in it for one year. Therefore, you are eligible to by another as long as you live there for another year etc. My nephew has done this many times. If in doubt, talk to a mortgage broker.

Keep on buying!

All cosmetic and a great renter.  I would let them do it as you would have to most likely change those things in the future anyway.  Might as well keep you good renters happy.

Find a friend that is an accountant that you can buy some beer for to help you.  Would work for me;-)

I have a rental property with a great Sect 8 tenant here in Phoenix, but I need my cash out of the property for liquidity. I love the ladies that live there as they take better care of my property than I do my own house and hate to sell it out from under them. I already rehabbed it a couple of years ago, so it has been very low maintenance.

Any advice or insight would be much appreciated as to how I should proceed?

Thanks BP community!

I have a rental property with a great Sect 8 tenant here in Phoenix, but I need my cash out of the property for liquidity.  I love the ladies that live there as they take better care of my property than I do my own house and hate to sell it out from under them.  I already rehabbed it a couple of years ago, so it has been very low maintenance.

Any advice or insight would be much appreciated as to how I should proceed?

Thanks BP community!