All Forum Posts by: Jason Sinclair

Hola!

Trying to get a split level (not a lot of sqft) on the market in the next three weeks and trying to decide on whether to open the wall between the dining and living room for a feel of openness or leave it as I have heard from two interior designers that the open concept is on the way out as we are more at home and liking our separate areas in the home.

Pragmatically speaking the opening of the wall will be mostly a time drain with it being a load bearing wall and having to support the ceiling while rebuilding and all the drywalling necessary. Local real estate agents are saying open it up still as the opening seems too small and makes the space feel cramped. 

In general would you :

A) Speed to get it on the market or

B) take a little time to make it feel bigger?

Thanks for any feedback! Manchester suburbs just outside St Louis Missouri. 

 Hey Eric, I was wondering if you got any further into flipping mobile homes. I would love to hear your experiences/updates on why or why not it worked. Gracias!

Hola! 

I'm becoming aware of the Case-Shiller Index and the Eviction Lab data as a big picture source of information. Drop your go-to local and national information sources for REI in general if you care to share... much appreciated.

BTW- is there a reason the October '22 data for Case-Shiller has been available for the last two months with no update? Lots of speculation on crash/recession/correction but it would be nice to at least see some movement on these markers. I know winter will always have a slow down and I can see locally it is not going crazy but if you have experience, I'd love more info on how to deal with these tools and what to expect from them. 

THANK YOU to anyone willing to share some knowledge. 

Happy Investing ;)

@Jeff He, first off - I love the creative thinking, that was awesome :) 

Then just to add to my post, I certainly don’t mean to humble-brag - I just want to make sure I’m not missing something obvious. I appreciate these forums and collaboration immensely! 

I keep hearing that while you should be cash flowing positively, you should be showing a loss on taxes for your rentals. I've deducted every repair, interest, tax, insurance, depreciation, etc. that I have put into the property and I guess the straight line depreciation just isn't enough to push us into a net loss on taxes. Am I doing something wrong or missing something here? Thanks for any advice!

@Daniel Hyman, thank you!!

@Daniel Hyman, my partner's lender has given us approval to quit claim the deed to the LLC/partnership we have. Now that the LLC "owns" the house but the loan is still in the partner's name... do we still have the same issue of audit risk? Not sure of any other way to get a mortgage on a house without putting all four of our names on the loan (we want to use our 10 mortgages a piece separately to maximize the mortgages we can get).

Thanks!

I like @Scott M.s note about the escrow account. Checking with a local lawyer or agent would be a good idea and then if you find the escrow situation is good you could set up an auto deposit which would be nice. 

Next see if they want to do two or three years at a time! lol. Good luck. let us know what you learn. 

Wow! BP community to the rescue!! My contractor is conveniently doing the siding as well so we're modifying the window size by half inch to get some big box store windows in, now we're just waiting on the siding! :p Thanks so much everyone!

Thank you for the idea! Some things sound so obvious when you hear them but as you are too close to the trees you can't see the forest! Thanks for the response!