All Forum Posts by: Jared Boundy

Since they have lived there for more than 2 yes, there won't be any capital gains tax, so she won't need to bother with a 1031 exchange (only necessary to defer capital gains tax into your next investment). An IRA can be used to buy future properties, and there are plenty of people on here who can help with that much better than I can. If she's interested in selling, I'd be interested in finding out more about the property. Send me a private message if jays of interest, otherwise she can go the traditional route of engaging a real estate broker and pay the associated commissions.

I think @Grant Rothenburgeris on the right track.  You can refinance to pull equity out of you want to keep your current home.  Some of the nuances of mortgage rules seem to vary by lender.  

I happen to know that Ditech will allow you to refinance a primary residence, and then turn around and use the cash you just pulled out to purchase a new primary residence. If you buy properties that need work, you can repair to increase their value and refinance later. There maybe "seasoning" periods in some cases that delay when you can refinance, but sounds like you may be in a decent position to start the BRRRR process. Good luck!

Welcome Kyle!  Sounds like you’re getting on the right track.  There is a monthly get together with a north-end group called Cascadia, which I think is the 4th Monday evening in Marysville, though  I haven’t been able to attend personally yet.

Starting sooner is better than starting later with real estate, kind of like compounding interest in a 401k. 

I’m happy to share what I know if you have specific questions for someone who maintains rentals on the side while working full-time.

Welcome @Jason R.!  I also work in healthcare and have rentals in Snohomish.  Might be good to chat sometime about the local market, etc. 

amazing @Austin Fruechting! So how does something like this end up being a win for the seller?   Seems like a huge win for you, but does a seller have to be extremely motivated?

Awesome!

amazing.  Congrats 

Haven't had a sewer issue covered by insurance, but I'm just wrapping up my second water damage issue on an older home in the area (1960s), and Farmer's has been great.  I use the John Meikle agency.

Sounds great! Don't think I can make it this Monday, but thanks for bringing it to my attention with the mention @Troy Fisher!

Beautifully done!