All Forum Posts by: Randy Fountain

@Arthur P.

Will this downturn in economy make section 8 renting more appealing to investors who come across great deals found cheap on the market? Not my first choice, but if things get more hairy out there and great deals are found, why not? Thoughts...

@Jason Seward

Vinyl plank is the way to go. Very easy to install and will last much longer than laminate. There are usually sales at your local Home Depot which will allow you to purchase under 3$ per sqft. You can also receive discounts from the Pro Desk or if you have a coupon. There are many levels of vinyl flooring as far as thickness which can save you money but I personally like the Lifeproof stuff.

@Rema W. I personally like Glidden paint if you buy from HD. It is cheaper than Behr and covers really well. A lot of times there are discounts when purchasing large amounts too.

Flooring all day!

Looks great Mike! Good luck, I’m sure you’ll be just fine making a good profit. I’ll be staying tuned to see what it sells for...

Thank you Dave, I'll be taking notes from this discussion to share with my family should they decide to purchase another place in the future. Thanks again guys for your help on this. Randy

Thanks Howard, appreciate the response. Wasn't sure if this was possible or not even though these transactions had already happened last week. Something for me to learn more about as I begin real estate investing in the near future. Randy

Very nice Cory!...I personally don't know the area that much other than Camp Hill where my brother lives but curious how you will make out because it can be an option for me in the future. I don't see why you would have a problem renting this out. Good Luck

Thank you Austin and Drew for your insight. As far as the actual use of the property, the family vacations there (even us) several times a year...maybe a combined total on average of 8-10 weeks a year. The other days of the year it is vacant with no rental or tenant use. Does this change anything? or in your opinion, still qualify for an exchange. Thanks again. Randy

Question for the BP community, A family member of mine recently sold a condo in Florida that they've owned for 2+ yrs and purchased another condo within a 2 week timeframe that was larger in size and more expensive. The condo that was sold produced a nice profit which in turn was used towards purchasing the new place. This new place is basically used as a vacationing home as was the older condo. From what I've read about 1031's, investment properties can be 1031 exchanged for "like" property when not used as a primary residence. Just wondering if this could've been used and if so, why wouldn't the agent/bank lender mention this. Thanks in advance. Randy