All Forum Posts by: Kumar Gaurav

@Theresa Harris

It's pretty much a triplex with the third unit with its own side entrance, we are using it as a duplex to avoid dealing with an additional tenant.

@Sue Hough

Thanks Sue, I understand timing will be very challenging but just wanted to know let’s say if hypothetically the timing is possible then would it help improve the property value. Obviously I wouldn’t be able to beat the newer in terms of price but perhaps attract buyers competitive buyers?

@Scott M.

Thanks Scott. The norm here in my area is to buy old houses ,rip them off and then construct a duplex and sell, I am 100% sure it will go on sale in a month or two. I thought about PM but don't know anyone trustworthy here besides I think it just bleeds my cash flow.

I personally prefer staying very close to my investment and self-manage. Unless someone can convince me I think hiring a PM does not solve the problem it's just turns problem upside down.

@John Teachout

I need to relocate out of state for job reasons,

I would not have considered selling if I did not have to relocate.

Hello,

There is a brand new construction for a duplex going on right next to my home. The new construction has very similar prototype as my house except that my home can be used as a triplex but the newer one is strictly a duplex.

Of course the newer home will have all the bells and whistles of a newer construction that my 15 year will not have.

I am thinking of selling but I am not in a rush and I 've been toying with the idea of timing my sale with the other property.

I personally think the listing price and/or sale price of the newer construction will positively impact the value of my property.

If I put my property on sale right away I feel I may not be able to reap the benefits of the neighboring new construction.

I personally I think if I put my property on sale exactly around the same time the newer construction goes on sale,it will help me sell my property at an optimal price.

I am interested to hear thoughts from other experienced members. I will appreciate your inputs.

Thanks

Hello,

There is a brand new construction for a duplex going on right next to my home. The new construction has very similar prototype as my house except that my home can be used as a triplex but the newer one is strictly a duplex.

Of course the newer home will have all the bells and whistles of a newer construction that my 15 year will not have.

I am thinking of selling but I am not in a rush and I 've been toying with the idea of timing my sale with the other property.

I personally think the listing price and/or sale price of the newer construction will positively impact the value of my property.

If I put my property on sale right away I feel I may not be able to reap the benefits of the neighboring new construction.

I personally I think if I put my property on sale exactly around the same time the newer construction goes on sale,it will help me sell my property at an optimal price.

I am interested to hear thoughts from other experienced members. I will appreciate your inputs.

Thanks

Years of cash flow sounds like a pretty useful metric to determine whether to sell or continue renting. But did you also take into account the transactional costs associated with selling? capital gains tax, seller commissions , other fees, etc? I am also in a similar boat but finding it hard to find another deal that at leats equals current cash flow, also any thoughts on where to park the sales proceeds until finding another deal?

Great Point Dave, I did not think about depreciation. If I understand it correctly when there is no cash flow or negative cash flow, it probably makes sense to sell as there will be tax benefit on the Capital gains vs Cash flowing property?

@Christian Espana

Hello,

Have you considered tapping on its equity by refinancing or HELOC and investing in another property?

Hi Nicholas,

My job situation in 2020 was completely remote.My employer is in CA and I worked remotely from NJ .My address on w2 and driver's license are both NJ. Over 12k tax was witheld in CA state tax , my CPA indicated that I will be receiving little over 5k as tax refund from CA and I already owe over 5k in NJ . Looks like I will end up paying over 7k as state tax in CA , is this reasonable? given I did not live in CA for the entire 2020? Is there any way I can avoid this double taxation? I will greatly appreciate your inputs here, my CPA is not articulating this to me well.

Thanks