All Forum Posts by: Jamiru Mutebi

Hi @Noah Laker, 

Thank you so much for the information.

Hi everyone,

After reading a good number of experienced investors' posts from different forums, my wife and I have decided to finish our basement for short-term renting. Having said that, we would like to ask for your advise on the following questions;  

Question 1. What are the pros and cons of short-term renting on a primary residence?

Question 2. Can we use our home equity for a project like this?

Question 3. What tax implications might arise from this kind of investment especially on a primary residence?

Thank you so much for your help, and advise in advance.

Hi @Eric Fernwood , @Denis Ponder, Thank you so much for the information. As a new investor, I'm learning a ton from your (Eric) reply. I appreciate everyone  else who took the time to advise me accordingly, as well as share your experiences. I'm very humbled to be part of this community. 

Thank you @Theresa Harris

Hi @Bob Stevens and @Carlos Ptriawan, 

Thank you so much.

Thank you so much, @Account Closed

Hi,

I am a new investor apparently negotiating my first deal. The property is in a good neighborhood of Worcester county, MA, and it's being sold as - is. However, in the description, It says "Property needs structural support from underneath, Replacement of tight tank is buyer's responsibility, and the sale of this property is subject to obtaining a License to Sell from the Worcester Probate and Family Court."

I haven't signed anything yet but right now I am some what skeptical  because of  these statements in the description which I had not paid a lot of attention to due the property's location. 

 "Property needs structural support from underneath",  and "the sale of this property is subject to obtaining a License to Sell from the Worcester Probate and Family Court."

Please advise on how to best proceed in a situation like this. Very much counting on your experience. 

Thanks!

Thank you @Brittany Minocchi and @Caleb Brown

Hi @Charlie MacPherson

Thank you for sharing, I am an aspiring investor just trying to get some equity from my primary home either via a HELOC or HELoan to invest in an investment property as suggested by some members in other platforms. However your experience is a lesson I sure will be mindful of in this journey.

Thank you @Ryan Muska