All Forum Posts by: Sam Pollock

@Remington Lyman

Sorry this happened to you!!

I’m pretty sure they have doors that you can unlock or lock right on your phone. Tells you if they are locked or unlock and if the door is open or closed. A security system would also notify you if the door is open or closed on your phone.

What taxes do you pay after selling a live and flip? We have lived in the house for 3 years and are ready to put it on the market. We are curious on if we pay taxes on the money we make on the house?

My wife and I are just starting out with real estate investing. We are both young so we don't have a lot of capital right yet. We have been running houses through the calculator on bigger pockets website in search of our first property and came across a nice trailer house in our town. We do have some good industry in our town including a canning company and dairy plant. I was curious on if anyone has and experience in buying trailer homes and renting them out and how it has worked for them. Thanks!

@Shaun Weekes I guess I didn’t know that! That would be interesting to look into!

@Shaun Weekes we have a conventional and January 3rd will be the start of the 3rd year.

@Robert Richardson we just finished this last month in Minnesota. We actually got contacted by our lenders. We had to pay $200 for an appraisal and then the lender reviews the appraisal. Takes about 3-4 weeks. Then they back pay you because you continue paying for the PMI during the process.

@Gabriel Edgar what did you think of the heloc

process?

Hey does anyone know of any networking meetings going on in Minnesota. I would love to meet some people.

@Gene Kardos count me in! We are out of Rochester mn!

If I have roughly $80,000 equity in my primary house would it be smart to use that as a line of credit towards getting our first investment property? I work in the construction field as an electrician but am certified to do plumbing and carpentry. Would flipping be a better route?