All Forum Posts by: Victoria Stone

Thanks everyone.  I so appreciate it.  I will get a new accountant.  So I'm guessing I should just move out and have everything fixed after I leave if I'm concerned about deductions? 

My accountant says that if the carpet is badly stained, replacing it with new flooring might be considered a repair.  Is this true?  The carpet has also been torn up in one small patch.  Other than that, it is just very badly stained. 

My accountant tells me that yes, if I have repairs like windows and fixtures fixed when I'm still occupying the house, I can deduct these.  Is this true?  She says as long as I move out fairly quickly after that it's clear that I made the repairs to prepare the house for renting.  

Thank you!

Hi there, 

I'm not a real estate professional and, in fact, have no experience selling RE.  I am, however, interested in perhaps selling my primary residence, for the right price ;), and have received some letters from RE agents saying they have clients who are interested in the house as it's in an area with low inventory.  I understand some of these REs may simply be trying to drum up business, so what's the best way to respond to find out if a) this interest is legitimate - i.e. there are actually buyers who are interested and this isn't some bait and switch tactic, and b) if the buyers are indeed real, how to get the best deal for my property if I decide to proceed. 

Any advice about handling this situation would be greatly appreciated.  Thank you!

Hi all, 

I read the Ultimate Beginner's Guide and although it lists many possible sources of loans, it does not say (or perhaps I overlooked where it says) what kind of qualifications you need to obtain such loans.  I am assuming loans for investment real estate are similar to mortgages for buying primary residences; that is, there's a relatively fixed formula based on your salary income, credit, etc. 

Or are investment loans not based on your income at all?  This is from the perspective of someone just starting out with no real estate portfolio to speak of.  How do you obtain financing?  What do lenders go on -- the numbers of the property, your "resume" as a businessperson generally, etc? 

Is it much like securing capital to start a business? 

Any specific details about starting with no experience but with some cash (say, a few hundred thousand) would be GREATLY appreciated!  And if I've missed this information somewhere else, please provide the links.  Sorry if this question has already been answered!

Thanks, everyone!  Actually the area I'm looking at will be Tucson, not Costa Mesa. 

Thanks for the encouragement!  I don't rent now, and I'm looking to buy in an area I'm not familiar with at all! :)

Hello everyone, 

I have no experience with real estate and will be buying my first home with cash in a few months.  Just in case I end up hating the area or want to move for some reason, I'd like to have an idea of how easy it would be to sell the property or rent it out.  I know real estate is not liquid, but I'm looking for a sense of a property's (or neighborhood's) relative liquidity.  

What are the metrics I'd look at to get an idea? I'm assuming things like how many houses in the neighborhood are sold per month, year, etc, how long they are on the market for on average prior to selling, etc. I'm not sure how to gauge how easy it would be to rent a particular property. Is there some metric for vacancy vs. availability, how many people seek rentals in the area?

I imagine what I'm trying to research has some technical name in real estate parlance...  This must be something that real estate investors consider prior to buying investment properties. I'm hoping someone knowledgeable might be able to point me in the right direction. Thank you!