All Forum Posts by: Helen Lowery

I currently have 1 rental and am working on a second deal.  My plan is to continue buying and managing the props, with the goal of finding my children's college education and to support aging parents.  However, after reading about capital gains tax and depreciation recapture, I'm unsure how to account for these future expenses in my plan.  Bigger pockets has been great in helping me form strategies for buying, but What about selling?  I understand one option is the 1031 exchange, but my plan is to sell to pay for my kids college education.  Can someone suggest a strategy for this? 

I have an opportunity to buy a deal, but the house needs a new roof ASAP.  We are doing a lease-option, so I won't actually be purchasing the property until 1 year from now... just sub-leasing.  I have asked the owner if he would consider replacing the roof (which is long overdue) to protect the investment over the next year until I buy.  Can someone help me work through the options here?  Is replacing the roof a deduction for him...or an expendable item that depreciates for me... or both?  What incentives can I give him to replace the roof now?

Hello BP. Recently, a great opportunity has presented itself and I am looking for ways to fund this deal since our cash reserves are currently low. I'm thinking about taking out a HELOC to fund the down payment and renovations, applying for a loan, and then re-financing after the renovations. However, I'm wondering if the application for the HELOC will affect my ability to get a loan?

We have stellar credit scores, but we already own one rental and are still paying on student loan debt... I'm worried opening a HELOC will make it impossible to get a loan.

Helen