All Forum Posts by: Kumar Gaurav

Hello

I am planning to sell my rental in nj and permanently relocate to ca by July 2024. in current year 2023 I am still a nj resident but will very likely end up being a ca resident in 2024

due to relocation.

If I sell my home before end of 2024 will I be taxed on capital gains in both states? Anything I can do to lower state tax implications on capital gains.

Appreciate your inputs

Thanks

Hello,

I came across a multifamily which is a 5-plex

The seller’s agent showed a vacant apartment when I was there as they don’t want to disturb tenants on casual inquiries. When I first bought my triplex I needed a pre approval from lender

Is it common to ask for financial statements before seeing the home? How can I best share financial statements without compromising privacy? Appreciate your inputs

Thanks

@Carlos Ptriawan

Thanks Carlos. Given the home is at a close proximity to a major metropolitan city NYC the equity curve looks solid and the income cash flow as well because I am locked in at a very low interest rate 2.5 for the next 27 years therefore selling is not making any sense to tap on the equity, refinancing would put me on a higher interest rate in this market so the only logical step would be to tap on the equity with the lowest possible HELOC rate.

Hello

Is it a good idea to use HELOC from existing duplex whose equity is 500k ,to purchase a 4 plex worth 1.5 mil and househack? Appreciate your inputs.

Thanks

Hello,

My first home was a MF a triplex in NJ and I have been able successfully able to househack for almost 4 years. Now that the remote work has been lifted I need to relocate to CA soon due to work. Given Bay Area is an appreciation play , I don’t think I will be able to cash flow like I did in NJ , I’ve looked at even Oakland but the prices have gone up insanely high the numbers are not making any sense with the high rise in interest rates. Luckily we have an office in Sacramento so I have an option to explore Sacramento. This time around I am thinking to buy a single family in a nice school area where I can comfortably live with family without househacking at least for sometime. Appreciate if someone here can share some areas I need to be looking at in Sacramento

Thanks

@Vadim Feygenberg

Have very similar question as the OP with a slight variation. I must relocate to SoCal Bay Area within next three months, got a OO MF triplex rental in East Coast (NJ near to NYC)that cash flows pretty well, selling can get up to 400k equity .AmI better off managing from CA and scaling rentals in other remote locations or buying a single family in Bay Area for appreciation , having a hard time wrapping my head around ‘appreciation' mindset as I find it speculative.

@Carlos Ptriawan

What particular areas in SF do you think are set for maximum appreciation in the SF bay area for someone willing to invest upto $300k?Also would you suggest investing in multifamily or single family?

@Amy Shutes

In a similar boat as OP .OO Triplex

PP $725k

loan amount $505k (27 yrs left )

PITI $3700

Rent From Two units $5000

Expected Sell Price 1 Mil

Need to relocate but confused on whether to sell or hold

Appreciate your inputs

@Thomas Rutkowski

Thanks but if I understand it correctly there is a 15% haircut in fees for IUL (5% in fees for whole life?) coupled with indexing returns capped between 0-10% makes me wonder it all evens out in the end and even if we make a tad less with the non-ib approach as someone mentioned earlier the investor is in total control and in drivers seat.

@Thomas Rutkowski

Great points here but the example taken here is for someone in the 40% tax bracket, is IB still relevant for someone in the 24% tax bracket?

especially given when other conventional banks are already offering 4% in savings account interest (risk free)and even 5% in CDs and the treasuries and munis are also good tax shelters.