All Forum Posts by: Yael Fuerst

Almost 10 years

Hi,

I have a SFH that I will ideally sell for $100K. I purchased this property for $55k all cash and putting in another $20K in renovations to get it ready to sell. I want to upgrade to a multi family or use some of it to purchase land. Am I understanding that I would need to pay taxes on the $25K profit, and if yes, is that worth deferring with a 1031 exchange or just pay the taxes now and have less of a time constraint? TIA

Thanks any chance you have someone you recommend ?

Hi,

I'm new to financing and we received a 100 page file for our final DSCR loan process to sign with a notary.

Should I review these with a lawyer to make sure we're not missing something we aren't aware of?

 Thank you I will!

I'm looking to refinance my existing investment property to purchase one in Pittsburgh for the purpose of short term rental am crazy to do it in the current market situation with Airbnb being what it is ? 

@Steve Vaughan Thank you! will check out DSCR

I own a property mortgage free. My question is - if I wanted to take a loan out against that property to pay debt I owe in a different country and buy an investment property in a different country:

1. would I be taxed on it? 

2. What type of loan would you recommend if I have no credit history since I don't live in the US?

thanks!

Thank you I'll check it out

Ok so here it is:
We own 2 properties with no debt on them, one is valued (according to realtor.com) at $256k and one is around $60k. 
Kicking myself for not growing our portfolio sooner but better late than never I guess.

Here's the thing - 
We don't live in the US, my husband is a US citizen but since he hasn't lived in the US for many years he has no credit history.

Now comes the fun part - we are in a lot of debt where we live (like $115k in loans). My husband started a business recently so income isn't steady and my income is on the lower end and we are struggling to cover our expenses since we have so many high interest loans.

So my question is like this:
1. What financing options are out there for us to take financing against one of our properties being non US residents with no credit history?
and
2. Should we use that financing to pay off our debt where we live or use that to take on more debt and grow our portfolio? I think the second option makes more sense in the long run but is it smart to do when we can barely cover the debt we have now?

Open to any other creative ideas to get us out of this mess. Feeling desperate and hopeless.