All Forum Posts by: Willis Seng

I live in Dallas, TX, which has one of the top buyer's market in the nation. Homes are cheap and abundant, so im thinkin houses would stay up for sale longer than usual because theyre so many houses to pick from. So I think I should rent out for a few years and then flip and sell. What do you guys think about this market?

Is it better to use 30 yr or 15 yr fixed?

Im new to REI. Can anyone give me a rough percent estimate of total expenses including tax, insurance, and everything else.

many people call him a crook, and maybe he is, but his book was so inspiring to many people. To me, it really gave me a different view of what life is. I was watching the big idea on cnbc the other day and there were these young millionaires, 23 and 25 year olds, that were first inspired by this one book. I read this book a few years ago and it motivated me to look for something out of life instead of a raise I never got. So here I am, tryin to learn about real estate investing.

If I were to flip a house and sell it within 6 months after purchase, would I qualify for 1031 tax exchange? or would there be a time period I should hold the property until i can qualify? Should I flip then put it up for rental for a year or 2?

lets say i flip a property and I hold it for 2 years for rental. Would that be qualified for 1031 exchange? or is there an exact time I should hold it. I dont think that link had anything about a holding period.

Does a property have to be held for a certain time period or can an investment property be sold right away after purchase to qualify for 1031 tax exchange?

the 1031 tax exchange applies when you sell real estate, in my case the flipped house, for another property. So there would not be any tax taken out until it is sold for profit, not capital gains.

Can someone explain to me what apprasial price mean? Sorry newb question. Appraisal Price and Market Price mean the same? Is it the price of the property including renovations and everything or is it the price of the property alone? Thanks

Which one do you guys prefer? Rental or Flipping? or both? I am new to REI and im just trying to get a sense of the two.