All Forum Posts by: Erica Vargas

@Bryant Blackwelder just an FYI moving forward make sure you are clear of new Real Estate changing coming down the pipeline with a new Administrations policy change regarding RE investing.

Elimination of the 1031 Exchange

The 1031 Exchange allows investors to defer capital gains taxes due upon the sale of an investment property by reinvesting the proceeds into another property. The Biden administration may eliminate the program for real estate investors with incomes above $400,000. There are other policy changes as well so make sure you get with your RE lawyer to explain everything so you are informed and you won’t loose money.

Godspeed.

I was wondering if there is anyone out there who is familiar with crash pads and or has any experience in running one. I have read on the forums of people knocking on the idea... not interested in dream killers! I just bought my first SF home in the Phoenix area and looking to collaborate with people who have done Crash Pads or want to know more about it. I think it is worth looking into. I do work for an airline and see the need.  

Kevin and George, thank you for the feed back... I was able to read some of the pro and con's on paypal. It seems it might not be the best road to take at this juncture... Thanks again.

I wanted to get some thoughts on what people think about using PayPal Business account to run as a business account and or have tenants pay rent? I'm mulling over the idea of using PayPal vs a regular bank? Any input would be appreciated. 

Thank you Sam I appreciate the response.

Looking for recommendations on a plumber in the Phoenix area.

Thank you in advance. :)

@ Ali- Thank you for reaching out. I agree 100% with your assessment of the Phoenix market. Phoenix is just a closer market to me were I could commute from with my job. I am open to looking at other markets though... but from my understanding it is wise to have a team in place?

Thank you Mike, that sounds realistic and sound advice. I wont get caught up in the numbers just yet.. as I was playing with the numbers on different down scenarios it did look more promising. I guess at this point I have to do what I can with what resources I have. I'm definitely eager to start.   

I'm in the process of running the numbers on property that I'm interested in AZ. I do have an agent. However I'm running into a road block with the numbers. I don't have the 20% down so, my plan is to do owner occupy and qualify for FHA first time home buyer. When I run the rental property calculator, I come up with negative cash on cash and negative monthly expenses. I eventually do want to rent it out. Not sure how to make the numbers work? I have been reading the book "Hold" one of the points made is that profit should be locked in immediately, otherwise you are paying to much. Any thoughts or suggestions to point me in the right direction would be so helpful... in how to go about trying to get the numbers to work better. I was told that I could, but that would take me into neighborhoods that have higher crime? that line seems hard to navigate through.