All Forum Posts by: Jonah Slove

 why is that? again the idea would be to reinvest in other rental markets?

 more so than a bunch of other properties?

Ah ok. So I need to figure out how to claim it as my primary too :)

 Yup  looking for those good deal(s) now

 Good to know, thanks for the clarification.

Now to figure out where to buy next...

ok good to know. It sounds like we can also sell pretty much tax free from cap gains too as it was recently her primary. We live in a small town and rural area (Jackson, WY) so not sure where to look next.. multi family an hour away? a few SFH in another city? How should we start looking. I am also personally looking to buy in a city like Detroit to learn the process.

 We can exclude $500k of gains if we are married. Once fees and improvements are taken off too we should be maximizing that. So what are your thoughts on our scenario? She moved in with me 2 years ago and before the property in question was her primary.

Okay, but either way it comes down to selling right? If we wanted to reinvest the proceeds from the sale would a 1031 be different than tax free capital gains?

My fiancé owes a small 2bed 2bath townhouse outright. It was her primary with a roommate until she moved in with me, now it is rented fully. It is valued at $1.3mil and she bought for $550k 5 years ago so not a bad return at all. Currently she only rents it for $2500mo because affordable housing is an issue in our small town..also STR is not allowed per the town. Now we are considering selling it to buy a more cash flowing property. Maybe some MFR in a bigger town an hour away. We would 1031. Pros and cons to this idea?

Thanks! those are huge factors. I also think the PM is low as most are 10% AND a months rent. I sent you a message