All Forum Posts by: Rachid B.

Thank you Basit and Dave. I appreciate your response.  disappointed :-(

What is the tax rate by the way? is it fixed or it varies based on our household income?

Thanks

Hi everyone, 

I would appreciate if someone can answer this question for me.

I bought a house in Houston in March of 2012. We lived in it for two years and been renting it since.

I am selling my house next month which will make it 5 years and 8 months.

Can I qualify for exemption from capital gain tax?
Thanks in advance

Thanks Mike,  I am going for  the duplex or multi family first to test the water in Trenton NJ, then eventually go for more.

Regards, 

Thank you Thomas for your input, I am absolutely getting invaluable lessons from y'all's responses.

Regards,

Thanks a lot Jaysen for your reply. Discovering a lot of new terms in the investment world.

Regards,

Hello everyone, 

I have an investment SFH property in Houston that's bringing me $1600 a month. $5000 annual tax, $300 HOA annually, $1400 insurance, low maintenance fees. $75k equity. mortgage payment $571 but I have been paying $1000/month (if I keep it at that, the house will be paid off in 11 years).

There is a fourplex for $150K in Trenton NJ that's bringing in $3000 a month, but that comes with $1300 a month on average expenses. 

My question is. will it be better to buy another SFH property in Houston for the same cash flow or go with the fourplex in Trenton?

Regards,

Thanks Justin, I believe you are referring to what Odie just mentioned. Someone else mentioned it in private message. Thank you Odie and Dharmesh very much for the information. 

I work out of state and I am usually home in NJ  one week a month. Unfortunately,  I am going to miss this month meeting. I will keep an eye on the next one.

Regards,

Thanks Michael, What's at Market Place? I usually go there for Starbucks  coffee :-). Ron, I though about buying a second investment property in Houston Spring area, but with 20% down on new mortgage,that would take a big chunk of my little cash I have and I won't be able to start flipping.

Regards,

Hi everyone, my name is Rachid from Plainsboro, NJ. I am new to BP and this is my first public post. I am interested in investing in NJ or PA market. My goal is to do one or two flips by starting out small and eventually grow to owning multiple condos or homes for cash flow. I own one investment property in Houston that I am happy with and looking to expand.

I appreciate any advice or feedback.

Regards,