All Forum Posts by: Zachary Spade

So this will actually be my first sale and Im not sure if I should do a 1031 or not, I purchased a SFH about a year and a half ago and after some remodelling its been rented since Oct. I purchased the property for 60k and we're listing it now at $109,500, I would really like to keep all my money from the sale and go into a duplex or triplex, my agent said he doesnt do 1031s since its not that much tax but I think the tax would be around 7k? which is still a lot to me, so asking other investors are they worth it? The money I make from this sale will be all the money Ill have so will I be able to use the funds from this for my Home Owners Insurance? Any remodeling to the new property? what if I have cash left over how does that work? Would I pull that out and just pay taxes on that? Also could I use the funds for multiple down payments on new properties? Sorry for all the questions I just really want to understand this before I make my decision, Thank You!

@Nathan G. just ordered the book, thanks!

So I am heavily considering getting into the short term rental business, I have a couple long term properties right now Im thinking of selling one and using the money to get into short/medium term rentals. I am mainly interested in subleasing appartments for travelling professionals but Air BNB also interests me. I would like to get more info into this topic though and was wondering what are some good resources? Are there books yet on the topic or good articles I could be pointed in the right direction to? I would like to learn as much as possible before diving in and have a good strategy but I feel like this is a strong market for investment opportunity, any help would be greatly appreciated! Thanks!

This will be the first year Im filing with my rental properties and was thinking I should go somewhere a little better than H and R block like I have in the past, I have all my receipts from the remodle and anything else Ive put into the properties this last year and want to make sure I get the most back. Ive found a good CPA in my city but Im worried they might be a little pricey or more than what I need? My 9-5 job is only about 35k a year.

I just had an offer accepted on my first single family rental and I am very excited! however, I realized I do not have any documents ready for lease agreements or even rental applications, I was wondering if there was a good website that could help me build a solid agreement and maybe have some application templates? Thank you BP Family!

Hey, I was wondering if anyone could help me out a little bit on trying to figure out the best way to use my 70k I will be getting soon, I really want to get into real estate and flipping houses, and owning rentals, my best case scenario is buying and flipping a house and using profit from my flip to purchase a rental and then going back to buy another flip and so on and so forth, however, I only have 70k to start off with, can anyone give me some advice on what I could do? is that enough to start flipping? I was hoping to do this with no loans and to be honest I have not looked much into financing so if that is something I would need maybe some resources for me to look would much appreciated, thank you to anyone able to help me out!