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All Forum Posts by: Stefan D.

Stefan D. has started 14 posts and replied 126 times.

Post: Calculating 2 years for capital gains

Stefan D.Posted
  • Park City, UT
  • Posts 127
  • Votes 126

@Natalie Kolodij Thanks Natalie!

Post: Calculating 2 years for capital gains

Stefan D.Posted
  • Park City, UT
  • Posts 127
  • Votes 126

To get more specific - if I put the house on sale soon, and have a closing date of 3/31/19 will that cut it? I'd obviously have to move out a week or two before final closing.  Or should I not close until later in April to be safe?

Post: Calculating 2 years for capital gains

Stefan D.Posted
  • Park City, UT
  • Posts 127
  • Votes 126

The closing date on my house was 3/31/2017.  When can I sell the house and avoid paying capital gains?

Post: Pittsburgh - Estimating Rental Property Repairs

Stefan D.Posted
  • Park City, UT
  • Posts 127
  • Votes 126

@Jim K.

Thank you, I do appreciate you elaborating on the size of the challenge I'm up against - its good to go into it clear eyed.  

Also, it sounds like you picked the right profession.

Post: Pittsburgh - Estimating Rental Property Repairs

Stefan D.Posted
  • Park City, UT
  • Posts 127
  • Votes 126

Haha @Jim K., I'm not looking for some perfect system, I get that it's complicated, I just want a way to make informed decision.  What I meant by a "system" would be something like this:

Use a checklist and estimate costs of everything that will need replaced in the first 5 years. Sum it up and divide by 5. Add a buffer in case more things break than expected. 

Post: Pittsburgh - Estimating Rental Property Repairs

Stefan D.Posted
  • Park City, UT
  • Posts 127
  • Votes 126

Ok thank you both - so you need to look at the age/condition of all the big ticket items.  Have either of you systematized it at all?  Any rules, or things you always consider deal breakers?

Post: Pittsburgh - Estimating Rental Property Repairs

Stefan D.Posted
  • Park City, UT
  • Posts 127
  • Votes 126

How much do yinz budget for repairs and capex for single family rentals from the early 1900's in the Pittsburgh area?  

Rules of thumb such as 5% of gross rent for repairs, and 5-7% for capex seem optimistically low for old houses. ($1440 yearly for a property that rents for $1000)

Post: Pittsburgh - Estimating Rental Property Repairs

Stefan D.Posted
  • Park City, UT
  • Posts 127
  • Votes 126

How much do yinz budget for repairs and capex for single family rentals from the early 1900's in the Pittsburgh area?  

Rules of thumb such as 5% of gross rent for repairs, and 5-7% for capex seem optimistically low for old houses. ($1440 yearly for a property that rents for $1000)

Post: Buying a property with a section 8 tenant in place

Stefan D.Posted
  • Park City, UT
  • Posts 127
  • Votes 126

Thanks for the input everyone.  Once my realtor took a look at the property we decided against it: the roof has been leaking through the bathroom and into the 1st floor kitchen.  This is probably the reason the property has sat - more so than the section 8 tenant with low rent.  

Might still be a deal, but more than I could execute as an amateur and remote investor.

Post: Buying a property with a section 8 tenant in place

Stefan D.Posted
  • Park City, UT
  • Posts 127
  • Votes 126

@Ryan Riehle Are those inspection reports publicly available somewhere? Or should I request them from the seller?

@Mark F. Very helpful link, thanks

@John G. Thank you for the encouragement, that is solid advice.