All Forum Posts by: Shawn Couch

Anyone have a recommendation for a company to inspect/fumigate and maybe do the damage wood replacement for investors (reduced price, or BP special).  I have a project in Oceanside, CA so San diego, or South Orange and Riverside County providers make more sense.  Thanks

Put it all in Bitcoin.

Just kidding.

Take Jay's advice and try landlording.  Property management is a frustrating business to be a part of, and you will likely be frustrated with your property manager if you hire one. Cash flow is marvelous stuff. You can actually find it in the stock and bond market, but good real estate is always good real estate.

I have 2 deals in escrow and can only do 1. Contract price of $310K, might be room for a small reduction. Assignable purchase, 10 more days inspection (Occupied by seller, need appt to view). Closing date of March 12. $370-375K ARV. Have cosmetics construction budget at $20,000, Property Inspection in hand, no asbetos in popcorn ceiling. Gross listing commission of $15K guaranteed or use your agent upon sale. Message me if you want more info.

@Nathaniel Donnelly, One thing to keep in mind about the 1031 exchange, is that you will have to purchase property, or properties that total as much, or more in value as the sale price / value of the property you have here in SD. You should check with a CPA BEFORE you try an exchange to get the specific details. I believe that even if you reduce the total loans on the newly acquired properties you could end up with a tax burden. So it would be the easiest to purchase something large, or 2 larger properties so you don't have to buy 10 SFR in Memphis (or whatever market you pick) within the allowable time period. Otherwise, you may have to suck it up and pay the taxes. Would this be a home that you could handle moving back into for 2 years, and then sell with the personal residence exclusion?

Being that the house is in CA, you also would have to pay CA cap gains taxes.  Let's say the combined amount is 25%.  If you wait too long, you will be paying about $50K in taxes on that $200K profit.  To make that $50K up in the future, the house would have to appreciate an additional  $67,000 just to net you $200K.  Can and will that happen?  Yes, but maybe not.

Alternatively you could sell it and structure a 1031 exchange to defer the taxes.  But the key word is DEFER.  You will pay the taxes at some point.

Good Luck

You should contact @Dan G.. He is close to you in Lake Station and not only is he investor friendly, he is an investor too.  Good luck.

@Ned Carey

Nw Indiana is a suburb of Chicago, IL, as is Orland Park.

This is definitely a good idea, especially if the menu prices are fair to start with.

Oh Patrick. Sounds like you have a little mess.

@Youri B. did you ever find a lender?  My contact thinks he can get something together for you.  Let me know.