All Forum Posts by: Account Closed

Thank you...you all know how to set someone straight. hehe

I'm sure...i guess im just venting :^|

Hello fellow investors. My rental in CT has just gone through a revaluation for tax rate in the city. Of course, with the market being so high the tax bill went up even though they lowered the mill rate. So now i need to up my rent amount which stinks cause of all the hard times people have fallen into. Here's my issue. The rental is one side of a duplex. The duplex next door which on the assessor's website is the same exact dimensions as mine came in at a slightly lower assessment amount. BUT the kicker is that, low and behold, they did not factor in the (probably because it's not legit) addition to the back of the home. I want to tell the city's office so that they can pay their fair share. I know i'm hating right now because of the tax increase. So should i or shouldn't i tattle? -JBR

thank you for any Good Counsel you can give me. I might even want to purchase a multifamily in Florida. So if I net 250k over here in Connecticut can I look at a multifamily investment properties for 900k?

what I am looking for  is 2  take the single family home and purchase  maybe a multi-family apartment building .  I already owned two other  single families  and  another  2 family  around where I live  oh, I got really good deals on them and I'm getting good cash flow  to the point where I can cover my own mortgage and then some .

Thank you both for your input, I really appreciate that  because of the fact that this is my first  1031 .  I have done a lot of research  and  understand  certain things clearly . I have asingle family home that was my primary residence  but I turned it into a rental property and it has been renting for 3 years now .  I have about  45% in equity  on the house  so I think I can net a total of 250 k . I also understand that I need a third party for the transaction to occur. I was thinking I can do it all here in Connecticut where I am. Sometimes I'm nervous about doing things out of state.

How much investment property can i buy in my scenario?

Hello!

My question is simple to me but the answer im not so sure of. If i sell a home and net $250,000...would i be able to use that as 25% "downpayment" on another like kind property? I am investigating properties i should be looking at purchase.

How much investment property can i buy in my scenario?

Thanks for any knowledge you can provide.

Jose, CT