All Forum Posts by: Wade Stahle

So it seems to me that rents will not take much of a hit during a downturn? I am from Alaska and we are highly dependent on the oil prices which are down, so I foresee at least some sort of softening in the real estate market. 

Thanks Justin. Have you experienced any of this yourself?

Hello BP,

I have a question for everyone who has experienced a market decline in their local area. Say I am investor with 20 units and those buildings decline in value by 50% over a short period of time. What happens to rents? Do they go down? Do number of tenants go up? How hard is it to keep tenants? It would be very helpful to have insight from someone has experienced this and tips on how to weather the storm during a market downturn. 

one last obscure question. Is this calendar year or 365x2 days? For example is it house bought on January 2nd 2014 so it can be sold January 3rd 2016 tax free?

I see. This is all very helpful.

thanks joe! I was just in Wilmington NC about a week ago. Love that place. Now does a 1031 exchange have a certain time period or could I work it that way also? 

Thanks for all the help guys. So Jake (or anyone else) if it takes around 30 days to close is the 2 years PURCHASE DATE to title CLOSING date? Or how would that work?

Thanks for the reply Dave. Is there a way to estimate this tax? Is it pro rated since I am closer to 2 years than say living in it for only 2 months?

Hi BP,

I am planning on selling my house before the 2 year mark. However, I am at about 22 months of ownership. Will I owe capital gains taxes? If so how much and how did you calculate this? Purchase price was $187,000 and I can sell for about $230,000. 

P.s. I know about the 1031 exchange but id rather not go through the stress of FSBO and trying to buy a house in a shirt period of time.

Hi BP,

My wife and co-purchased our first home on an FHA loan a little over 2 years ago. My question is, is there anyway that we can refinance, or put the house in one of our names to somehow be able to acquire TWO FHA loans? I will do anything, legally of course.