All Forum Posts by: Kalimah Jenkins

Matt Sicignano I agree. Cobb does allow the "owner" to remove the belongings. In my experience, it's a total of 4 people required but the owner is included in that.

@Dave Foster Thank you so much.  I guess I missed the hold vs flip info.  So, I guess that I have to pay taxes in this one. :(.  You, however, have given me a ton of info and I will definitely contact you when I begin unloading some buy and holds.  Thanks again.

@Dave Foster Thank you for that response. A couple of more questions if you don't mind: is it too late to set one up if already under contract and closing in 2.5 weeks? You mentioned depreciation. Does it make a difference if a three month flip? Does it matter that if held personally, not in an LLC. I do intend on finding another property but yes, things are tight in my area also. It's 120 days correct? Lastly, does a 1031 only require that the gain is held by an intermediary or full amount? if the latter, how does one get "Reno expenses" back? Thanks.

Dave Foster what would you say the threshold is for a 1031 exchange? In other words, when should you consider it such that the expenses to set it up offsets the taxes you would pay. I'm in contract now: all in $111,000; sale $144,900 before realtor and junk. Would this be worth it? Thanks.

I've rented and still rent out my timeshares. I don't own in FL but have rented exchanged weeks there also. I am not sure I understand your question. You would only be renting out your week. Once you pay your maintenance and rent it out, you collect the money from the renter. After they have departed, the timeshare cleans for the next "owner". Why would you need a property manager?

In box me the details please.

There is no redemption period in GA. So as long as there is no deed restriction, you can sell it immediately.

Hey guys,

I bought a 1960s ranch on a basement. It has an open vaulted ceiling and needs a new roof. This is going to be a flip. The present roof decking is an older material that is like press wood. It is presently crumbling. This material is no longer used for roofing. My question is what decking material would you use? Keep in mind that decking will be seen from inside the home due to the open vaulted ceiling. I am looking for the lowest cost solution. I know OSB decking is cheaper than ply, but it would require us to then do something inside the house because it would be an eye saw. I was wondering if anyone knew of a solution where it would be a one shot deal. Even though all of the decking isn't crumbling, as soon as we remove the ones that are, the new decking won't match. So, we think that we will have to do a complete tear off.

@Jay DewberryI've done that.  I have had 4 estimates thus far.  I am asking the experts here because possibly someone has had to deal with this before.  Thanks.

Hey guys,

I bought a 1960s ranch on a basement.  It has an open vaulted ceiling and needs a new roof.  This is going to be a flip.  The present roof decking is an older material that is like press wood.  It is presently crumbling.  This material is no longer used for roofing.  My question is what decking material would you use?  Keep in mind that decking will be seen from inside the home due to the open vaulted ceiling.  I am looking for the lowest cost solution.  I know OSB decking is cheaper than ply, but it would require us to then do something inside the house because it would be an eye saw.  I was wondering if anyone knew of a solution where it would be a one shot deal.  Even though all of the decking isn't crumbling, as soon as we remove the ones that are, the new decking won't match.  So, we think that we will have to do a complete tear off.

Any suggestions would be greatly appreciated.  Oh, it's a lower end flip so cost is definitely a factor.