All Forum Posts by: Nathan S.

Thank you all. I think what sold me on not selling the home "subject to" is @James Duffy comment, "subsequent payments received on the note will be taxable".

I am looking into selling my STR in TX using "subject to the existing financing" while utilizing a 1031 exchange into a new investment in MN. Is that something that is even possible? If so, can additional funds be brought to the table to fund the new property's down payment? In the subject to contract, there would be a small down payment provided and then a typical amortization schedule afterward. I've got a great interest rate on the existing home and would love to leverage that for a higher price when selling. Thanks for any insight!

Thanks! @Tim Swierczek

I am looking for a contractor that can expand window wells, install flooring, expand and move bathroom plumbing and potentially chase a plumbing leak, among other things. This a rehab with the purpose of reselling or converting to a rental. Richfield, MN.

Thanks in advance!

Nate

Thanks @Ashish Acharya and @Scott Jensen.  I am 18 years away from retirement, but I like to research and plan ahead!  Of course, the laws and rules could change between now and then too.

Anyone out there research this? My goal is to retire and live off of income of six single family home investments by age 55. They need to be free and clear and the thought was to use my 401k through the SEPP program in my early 50's if I need the funds to help pay off the remaining mortgages.  There isn't any fear of the rental units not supporting my retirement so not having the 401k funds in my later years won't be an issue.

Thanks in advance!

I currently have three rental units (SFH, town home) and my goal was a total of six.  However, I have decided I wanted to move up my timeline for retirement to age 55 (I'm 38 now) with my original math telling me I could have them paid off between age 59-61.  

Does anyone have a spreadsheet or formula to determine how many additional units would be needed to increase cash flow to pay off the first initial rentals on a more accelerated time table?  $300-$350 of cash flow per unit is my minimum accepted in order for me to justify the investment.

The idea would be to have the first six paid off by age 55, leaving me at a comfortable retirement income.  Thanks in advance for any insight!

Hi BP'ers, I am looking CPA in metro area.  One who also has rentals would be ideal.  Someone who can prepare taxes, schedule E and also a CPA who can act as an adviser, not just tax prep.  Thanks! 

$300/mo on a SFH is my minimum goal

You could talk to her about the following plan: wait until another tenant's lease expires, have her move to the newly vacated unit and renovate it, allowing her to move back or stay in the new unit.  As an incentive, you can offer to help her move or cover the expense and hassle by providing a credit for movers.  This way, you get to renovate and keep a good tenant.