In April 2024, I finally saved enough money and pulled the trigger.

Plus, with your market's rapid development, you could lock in your gains now while the market's strong.

So, I'm challenged right now finding a property that will cash flow well enough for me to pull the trigger.

It will be a 5/1 ARM though.If you want to lock in a 30 yr, but with a little higher costs, I've used LimaOne and Visio in this area. 

The assignment agreement addendum was signed a few weeks into escrow.I was not worried that this would trigger the seller to back out.  

If tenants get locked out, again call a locksmith and have the tenant pay for it. 

I'm hoping to lock down my first investment property in CA before the new year, God willing!

Alternatively, consider a cash-out refinance to access equity without triggering capital gains or explore a 1031 exchange to defer taxes by purchasing another investment property.This post does not create a CPA-Client relationship.

In the end, the weekend after the fed announced the first interest rate drop, we had an open house that had more traffic than our opening weekend 3 months earlier. we received a full-price offer for the house and closed in early November. obviously I have no way of knowing if the interest rate drop was a trigger, but nothing else changed in the market at that time. just wanted to share in case others are curious. appreciate all the thought partnership!

Alternatively, transferring the property to a revocable trust provides income for your parents, avoids probate, and keeps you as a beneficiary, but it doesn’t allow for a 1031 exchange and could trigger gift tax.Focus on aligning the structure with your goals, whether for immediate reinvestment or estate planning, and ensure compliance with Connecticut laws.This post does not create a CPA-Client relationship.