All Forum Posts by: Sun Kim

I am thinking about taking a Maryland sales agent realtor, but not becoming one. From what I've read it sounds like if I become a licensed realtor, I will have less recourse should something happen because I would be considered a licensed educated professional.

I have several properties in Maryland over time that I hope to do a 1031 exchange, and save on the commission on the sale.  One property will be fully depreciated in 5 years, so looking to do a 1031 to buy two or more properties and start over the depreciation.  the home is paid off.

Then use a buyers agent to buy a new rental property. I was thinking of doing one of those low fixed priced MLS listing service and selling as FSBO. Could you provide any advice on the best way forward.

Thank you.

I don't plan to use the pool now or ever.  Just asking if it's OK to rent the house with the pool empty or partially empty in 2 or 3 years?  Can you offer information on how to and how much the cost of filling a pool will involve and cost?  I am located in Alameda county in Dublin.

I am buying a primary residence, and in 2 or 3 years, converting to a rental.  The current owner bought the house with a pool and has not used it in 20 years.  The cost of the repair is$27K and don't want a pool either.  The pool does hold water and is not cracked, but looks to require some maintenance.  Is it advisable to leave the pool as is, and save the fill cost of about $12K, or just fill it from a liability stand point?

I would move in immediately to live in, then potentially rent it out in 2 or 4 years.  Again, this is all speculative at this point.  My rent is $3250, but high rent is already here.  Luckily I landlord is not raising the rent yet.

I am thinking rent will be around $3500 to $3750???  That's the other thought, that I buy in other locations, thinking Maryland where I have three other rental.  Then continue to rent here???  I don't know what's best.  Maybe buy the home, sit on it, by living in it or renting it, and let Prop 13 keep my taxes low until death inheritance to my kids.  Is it foolish to be in the read for $2500 per month having a $6k mortgage and collecting only $3700 per month???

From what I see there is no way to make 1% in my area in Dublin, CA.  You'd be lucky not to have a negative $2k per month.

I like to get your opinion.

I am thinking of buying a SFH in the Dublin, CA area to live in, then rent it out, then potentially moving back in. I have other properties, and have never sold a home, so I expect to keep this until the mortgage in paid off. I have other rentals out of state. I am looking at between 1,250 and 1,750 sqft home and price ranges from $800k to $950k. Estimating that taxes will be 1.22% of the price. I plan to put down 30% on a 15 year loan around 4.25 loan, without points. I estimate my mortgage to be above $6k, and this will test my available income flow form my salary. I am currently renting $3250 per month in a town home. Does it make sense to buy now, to save $39k per year? I estimate taxes and insurance on $900k home will be $12k not including HOA. I've seen some home where people buy a home for $1M, just to rent it out for $3500, that seems crazy. It the appreciation which I believe is loosing steam worth it in the long run?

I figure that I would come out ahead if my new home appreciates $50k over 2 years to offset the 5% commission I would pay.  If I deduct 2 years of expenses (taxes+insurance) of $24k from my 2 years rent I would pay of $78k, then I am as a positive $54k.  Is my math correct, and am I thinking correctly in savings, did I forget something?

It it better to buy a upgraded or at least fixed up 1962 built SFH around 1500sqft with a yard, and drive way or a recently built 3 level SF townhome with no yard and no driveway from a rental perspective?

Thanks.

Can someone give me advice on the best way to change property managers?  I have 3 rentals in Maryland in the Odenton and Columbia, MD area, all single family homes from $235K to $275K range, acquired at various times.  My full time realtor, part-time property manager has been managing them for the past 19 years.  But in the past three years I have not been happy with the service, and most recently we both had two back to back tenants that I feel that my property manager just did a bad job.  I was unable to get about a years worth of rental income on one specific property.  We do have a good relationship.  I am wanting to change to my dad's property management company that he has used for the past 30+ years.  My dad's property manager transferred from mother to son, and now the son is more vigilant and more efficient.

My current exclusive lease brokerage agreement states that either party can terminate the agreement if 180 days notice is given, or it can be mutually terminated at any time.  All 3 rentals are currently occupied under a lease, with one coming up for renewal.  What would be the best way to transfer to other property manager?  I am not sure if I need to give her 180 days notice, she may be willing to just mutually terminate.  I don't know, and have not asked her yet.

Thank you.