22 April 2024 | 6 replies
I would probably keep the other house regardless of what I do because of the low interest rate.I am now wondering if I should hire a Qualified Intermediary (my realtor calls this an "Accomodater") so I have the option to buy a one level rental, stay where I am at, and if in the future I am unable to live in the two level home I am currently living in (our second home that is my primary residence), convert the rental to a primary residence.
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24 April 2024 | 27 replies
Consider converting one property into an STR while retaining the others as LTRs to establish a stable income base, taking into account your willingness to manage STR responsibilities, local regulations, and financial projections for each property scenario.
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22 April 2024 | 12 replies
I have a once triplex converted to a duplex that I’m turning back into a triplex . hope that didn’t get too confusing.So I’m trying to figure out the best way to supply all 3 units with sufficient hot water in the most economical way of course.
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23 April 2024 | 8 replies
This could potentially add some cash flow to your house hacking position if you convert 1 or 2 of the units to that strategy.It sounds like you're handy enough to rehab some units if need be and/or do most minor maintenance, so you can cut down on that % reserve.Anyway, good luck man!
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22 April 2024 | 10 replies
Assuming that you converted your property into a rental after you moved, you will still owe taxes on depreciation recapture, as explained by @Basit Siddiqi
22 April 2024 | 4 replies
I bought it sole owner in 2005 as a primary residence and converted it to a rental in 2017.
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22 April 2024 | 9 replies
Airbnb because it's for furnished rentals and Zillow because I've found people looking for unfurnished often convert quite fast when given a long-term furnished option.
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21 April 2024 | 1 reply
The property has three floors, and I'm looking to potentially convert it into multiple rental units.
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21 April 2024 | 1 reply
Purchase price: $31,000 Cash invested: $66,000 Sale price: $147,500 Converted an abandoned, condemned three bedroom, one and a half bath home with two rooms (one 30x15) unused/used as storage into a four bedroom, two bath home with family room.
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22 April 2024 | 3 replies
There are properties you can find that might already have an ADU or a layout that would allow a unit to be split off with a separate entrance (ex: converted garage).