All Forum Posts by: Matthew Meikle

@Syed Almamun How much ya got?

@John Teachout No cats either!? Mind blown.

@Mike Terranova Assuming you've already made sure you're not taking on any additional liens on the home, you should be aware of a possible "due on sale clause" in the contract. However, I've yet to hear of a case of any bank actually following through on it. They should, in all likelihood, be happy with payments continuing regardless of the source.

You're going to want to include more information to get your answers. Size and layout of the house? What is market rent as it stands? What would renovations cost and could you push rents further by doing them? If so, what would your ARV be? What's the seller's story?

@Everett Morris VA all day, as was so eloquently put. Can't be beat. Zero down and lock in rates on a 30 year.

@Divya Reddy Be sure to consider local laws and your own liability when deciding whether you need a GC. Often an owner may legally act as GC for their project. However, they also assume the liability for it. I like the fact that a good GC will stand behind their work and have it bonded.

@Tucker Walser There are three major career paths that are complimentary to REI; real estate agent, property manager, and general contractor.

Let me get this straight. You don't even want smokers living in your rentals period? I understand not wanting them smoking inside, but it's not like you're selling them health insurance. While smokers are not a protected class, it is the textbook definition of discrimination imo. Do inspections and if it smells like smoke take action. I don't think I know a single person who smokes inside their home any more.

I wonder where the 1 year timetable came from when there isn't one in the tax code? One would think that advertising, purchasing landlord insurance, and renting the place out might be enough to signal intent. I imagine there's some historic precedents that have the professionals wary.

A six month timetable would be more appealing, if it were doable. Would love to hear from others who have done 1031s and the roadblocks they've encountered. Went off without a hitch? Got audited? Let's hear your stories.

@John Santiago Haha didn't notice this was a resurrection. Same same.

@John Santiago Welcome to BP, John.

I should be boots on the ground in Ocala by December. I plan to attend some meetups if I can. Have you been to any?

Once the house I'm selling closes, I'll be in the market for 1100 sqft or more sfh 2/2s for 3/2 conversion. However, I won't discriminate against a good deal.

Hit me up any time.

- Matthew