All Forum Posts by: Jonathan Perez

Anybody know any good tax consultants in Columbia SC? This will be my first year filing taxes with my property so I want to make sure I get the most out of it. Please give me your recommendations. Thank in advance.

When and where is this taking place?

Andrew R. Lucas that’s good stuff right there Andrew, I was thinking exactly that only wasn’t considering the fact that they may take payments rather than demand a lumpsome! If that’s the case, then I’ll fix this side up real quick, get it rented and dip up outta here! Get a raise on my ROI and I’ll be alright! Ima call tomorrow and find out. I’m just ready to start scaling UPwards but with my options as far as financing goes I would NEED TO be able to move OUT and use the FHA (or Conventional whatever works) loan at 3-3.5% DOWN “*owner occupied* for at least 1 year*” thing on the next one. Other option was to just stick it out and use the 2 year timeframe to learn how to wholesale, maybe rehab, and just cultivate myself to become a “real estate hustler” as Brandon calls it, since the goal IS to leave the day job one day and become a full time investor!

Brent Coombs Well it’s actually 1/3 less a year. So 6,000-2000= $4,000 I’d owe. Same point though, I guess. If I just pay it, I’d be free to go. That’s one option Brian Garrett I’m going to look into the equity thing

So, I’ve been living in my duplex for a whole year now. When I bought the house, I used FHA 3.5% down requiring that I live in it for at least 1 year. I also completed a down payment assistance program that granted me $6,000 but required that I lived in the residence for at least 3 years otherwise I’d have to repay 1/3 of the grant. I thought it was a great idea considering it was like “free money” but now I feel like I’m ready to more properties and can do so because I have to live in this one for another 2 years! Am I really stuck until the 3 years are up or are there other options? If so what can I do?

So I've been living in my first house hack/duplex since January this year. My tenant is about to move out and I'm going to move into the her unit and rent the side I'm currently living in out... There is another duplex that is up for sale right now that is literally 2 houses down. I feel like it would be awesome to own since it's literally the 2nd house over mine. My only issue is that the current loan I have on my duplex is FHA where I MUST occupy the residence for a year. Actually, I also used a down payment assistance program that REQUIRES I live in it for 3 years... So I thought about maybe looking for PRIVATE lenders to see if I can make it work assuming that everything else about the deal is right... How should I go about finding and putting together a deal when money is privately lent??? Where do I start and what are some tips and things to look out for??? Orrr, is this a bad idea? Should I just chill out for the next 2 years and work with what I already have? Would like to hear some of you guys' thoughts and ideas.

Shawn M. Thanks for responding. What does a strong lease mean to you? Now that I think about it, that's probably what I should focused on right now.

I was thinking about maybe giving my new tenants a shorter lease in case things wrong. Maybe something like a 3-6 month lease and then if they're good tenants I'll offer them a year lease. Is that something I should do? Or would that be dumb? This is my first tenant after the inherited one that is about to move out. Im a bit nervous. Any advice would be appreciated.

So I was going to have my dryer vents cleaned out and while moving the stacked washer and dryer out the way we noticed that there had been some leaking that has done some minor damage to the wood underneath the flooring. It looks like we caught it right on time because although the wood is wet it's pretty solid. There's a small spot where it's a bit soft and broken but overall it's ok. Also, a friend of mine (who came over and was going to give me a quote for installing some quarter rounds) and I noticed that throughout the living room and bedrooms there's some water/moisture around the baseboards. Not sure if that's due to the washer leaking or if that may be another issue... I'm a bit stressed out because my tenant on the other side of the duplex is supposed to move out by the end of this month and I was planning on moving to that side and renting my unit out but now since this has came up it's putting me at a crunch with time and money... I'm trying to tackle the most urgent and most important things needed to have my side at the very least and I hope it's not as big of an issue as it seems. What do you guys think? Anything I should look out for? Has anyone had an issue like this before?

James K. Like I need quarter rounds installed around the hardwood floors, I hadn't got to that and thought I'd be alright without it, but of course I'm going to need to put that for the tenant. I think I'm going to swap appliances as well, the one in my current tenants side are all new, (stove, dishwasher) Also need to paint or mold or whatever you do to a patch on the wall behind the bathroom that's been cut open for plumbing work. Going to need new blinds Things such as.