All Forum Posts by: Michelle F.

I am looking for an Atlanta-area Real Estate Agent with the following qualifications:

1. willing to do rental listings

2. speaks fluent Spanish and fluent English

3.  honest, competent, and will represent my interests well (find me a good tenant).

Any recs?

Thank you!

Hi Dustin DuFault,

Did you find a solution? I have the same question, so would be interested to know what you decided.

An RV is a depreciating asset. I would not sell an appreciating asset to buy a depreciating one.

I would try to stay in the house 2 years to avoid taxes on sale.

Hello,

Does anyone know any banks / credit unions that are doing HELOC / equity line of credit on investment properties?

I know First Tech and PenFed are, but they both have a limit of 4 financed investment properties, and I am just over that. I am not eligible for Navy Fed.

I've been researching and have called several other banks, but they all say that aren't doing HELOCs on investment properties.

Property is in Georgia. 

Any banks / credit unions I should try?

Quick caveat: 

There may be some closing costs on the buyer or seller side that can't be taken into account for your net. ( example, as a seller, I don't think you could subtract a utility bill that you owed anyway from your net, even if it was paid out of closing by the title company - just things that are considered cost of the sale) You can check with your intermediary on which closing costs "count."

Agree with the other posters. 

Also, even if your net "out of pocket" on the purchase were less than your net on the sale, it would not invalidate your exchange, you would just owe tax on the difference.

ex: your net on the sale was 133k. If you were to purchase a property that cost you net 130k, it's still a valid exchange, you would just owe taxes on the 3k difference ( assuming you have at least 3k profit on the sale, which I assume you do if you are bothering to do a 1031 exchange.) 

Also, keep in mind that there may be some buyer closing costs on the purchase property too  and that is part of your net cost of purchase.

I would also like to know ...

Can anyone recommend a professional, qualified intermediary company with reasonable fees? I will have 2 relinquished and 1-4 replacement properties, so fees for additional properties matter.

Has anyone used e1031xchange.com?

Thanks!

I'm looking for someone to repair bathroom tile!

I was wondering why I was getting recs for lawyers!

Anyone have a rec for a tile guy in Atlanta?