All Forum Posts by: John C. Kuitwaard

Dave, 

Thanks for the reply. I started renting the house about 5 years ago. The monthly rent I collect is $3,800. How is the depreciation recapture calculated? 

So essentially, if I sell the house for less than I paid, their is no need for a 1031 exchange? 

I own a SFR that used to be my primary residence. I purchased a new home 4 years ago with my now wife and kept the previous house as a SFR.

I would like to determine if it is worth keeping this house or selling it and reinvesting into another RE deal or other investments. 

Some of the numbers:

Paid $680k

current value $640k

Cash Flow +/- $0 (it doesn't cash flow)

Principal paid down $1k per month

Equity $196k

If I sell the house I will walk away with about $160k after fees etc. 

How do I analyze this? Is their a calculator for this? 

Can I make more money in another investment? 

Does 1031 exchange apply here if I sell the house for less than I paid? 

Thanks

John

Investment Info:

Single-family residence buy & hold investment in Wantagh.

This is my first home which ended up being a house hack for myself and 3 friends. I still own the home and rent it as a SFR.

@Bobby Esposito I have used https://www.ezlandlordforms.com/ with excellent results. They update the state specific leases with all of the new laws for each state.

@Sochima Eze. Check out the events page of BP. Their is a Nassau County BP group as well as a Suffolk County group. I haven’t check to see if they are having events in December yet. Maybe I’ll see you at either of these one day.

It was a pleasure meeting everyone at this event. Many Thanks to Cary for organizing these. I really enjoyed it and look forward to attending many more. 

John

When is the next event? I couldn't make this one.