All Forum Posts by: Patrick Farley

I'm in same boat and decided to rent ours.  Had it listed for sale and no interest.  

Not a simple answer though, and you need more data though to make an informed decision.  What could you rent it for?  How would you manage the property?  Net operating income after expenses?  Do you need the cash for use elsewhere?  

My wife and I are moving out of state.  New home purchased under my name, with current home in my wife's name.  We aren't having much luck trying to sell our current home and the rental numbers are better than expected.  

Plan is to rent for 2 years then sell to avoid capital gains, but do we need to notify the lender or do we run the risk of them calling in the note?  We are set up for auto-pay, so I know some would suggest they don't care as long as they're paid on time.  With the notes in separate names, is there anything else we need to consider with financial liability?

Thanks Scott.  I agree.  Crazy part is the offer we had agreed to was above asking.  I think we are still in the right range... thinking our best option right now is to leave it listed versus decreasing our ask.

 Hi Stuart - Home is in SOBO and we have projections on rental market already calculated.  I think the macro-economic environment has buyers spooked.

Great feedback!  Thanks!  

BP --

I have recently started tapping into my network to connect folks for various reasons, personal or business related.  I'm wondering if I should ask for some type of compensation for my "services" as a connector.  

For example, I have connected someone looking to buy rental properties with another couple looking to sell their entire rental portfolio.  The value of the deal is over $2M and could be very good for both parties.  I am happy to help, and won't be negatively effected either way, but do I deserve anything for helping to "broker" this deal?  At least a steak dinner, right?  Do I even bring it up?  Thanks :)

We have our Denver home listed as we are relocating out of state. It's a new build in a good area. However, we have had fairly low traffic with one offer from investment group to buy and rent, which unfortunately fell through. From the input and date we've gathered, our monthly NOI would be 2k rented. Not concerned remote PM as I have boots on the ground and can automate bill pay/service requests.

My dilemma is I would like to tap into our 40% equity for alternative investments.  Not to mention, we are into another home in an even more expensive market, which I fear we overpaid for, and psychologically, I'm scared to be hit in two places in the event of a downturn.

Seeking any/all BP input and welcome discussion. 

I am looking to connect with people who have experience selling home by owner.  This could include pros/cons though we are pretty set on going our own way with this one.  Thanks!

Thanks for the info.

From my vantage point, market fluctuations for land tend to lag behind home prices, particularly in today's climate and there's still value in desirable locations where homes are priced out.  Any strong opinions about acquiring land as a buy & hold asset?  For context, we are considering acquiring a lot in Steamboat Springs and building over the course of 3-5 yrs, but I don't know enough to assess whether a lot purchase now is a good buy without having the end game determined.