All Forum Posts by: Vic Vega

@Alex McLean I don't know much about investing on the Eastern Shore but the 50-60k price range would probably do better in Baltimore compared to most areas. The market in Baltimore is a little rich at the moment in my opinion but there's certainly deals to be had in that price range. What is your plan to fund the rehab cost? It's good you have 20% to put down but being able to make all cash offers on properties will certainly help you. Have you looked into a possible way to get funding?

Hey @Alex McLean and welcome. What part in MD do you plan to invest?

Hey Everyone! So I'd like to gain some feedback from those who are fairly knowledgable in dealing with Capital Gain Tax on selling investment properties. From my current understanding Capital Gain Tax are assessed based on the price a home was purchased vs the price the home was sold, that profit amount is then taxed.

Curious though...Is the cost involved with rehab work considered as being a part of the total over cost of the property? For example, if a property is bought for 60,000 and requires 20,000 in rehab work equaling a total of 80,000. The property is then sold for 100,000, providing a profit to the investor of 20,000. Are capital gains based on 20,000 in profit or are the profits considered to be 40,000 in total based on the original purchase price of 60,000?

Does the time frame the property was owned by the investor matter in assessing Capital Gain Tax?

Thanks!

Hey @David Wandel I sent you a message.

Hey @Ozzy Sirimsi! Appreciate the response but looking for someone with investing experience in Brooklyn. 

Let me know if you're investing in the area, had a few questions if someone didn't mind.

Thanks!

Anyone in Baltimore City have experience with Renter Warehouse managing their properties? Particularly Section 8 properties but any feedback will do? Just looking for general pros and cons etc...

Thanks!

Glad you brought up the water bill aspect @Lee L. Hadn't thought about that and here in Baltimore water bills are a huge rip!

Thanks for the input @Nicole A.!  I understand what you're saying. The home I'm working on now has a washer and dryer in the basement from the old home owner. Haven't tested them out yet but they appear to be in working condition. If I decide to keep them I'd have to run water lines to the washer (very easy job the way its set up). If there was not units already there I likely wouldn't consider adding new ones. The house is in an area that certainly doesn't demand washer and dryers to be available in house for tenants necessarily. So I guess I'm debating is it worth adding the water lines and set up the existing units already there in hopes it makes the property a bit more desirable and demand a very slight bit more in rent? If not why keep more things around that can break.

Hey Everyone.

So I never really pondered this too much but I am now as I'm wrapping up renovation on a rental property this week. What is everyones general opinion on equipping or not equipping their rentals with a washer and dryer.

I'm sure some landlords are all for it, some the complete opposite. Then I'm sure it's case by case for some. Such as the type of neighborhood the property is and the type of tenants the property would be housing. Pros and cons, reasons why or why not please.

Thanks!