For sure — I’m trying to determine if I’m making a bad move tax wise, or if I should somehow leverage the equity locked into the rental, which seems challenging with the low interest rate of the mortgage.

Hi Greg, may I ask what lock system you use for your rooming house?

Does HomeVestors buy the property from the seller outright or do they just lock up the property while they look for an end buyer, leaving them the option to back out of the deal if they don't find a buyer?

@Rich Solano Need to lock those up at deeper discounts shoot for 30% minimum remember market values are still inflated in many cases, if you only buy with a 10% discount and we get a strong market correction you'll be in a tough spot.

I'd like to keep my mother's room locked and still have the option of staying in that room for 2-4 weeks during the school year (while the tenant is also in the house) and for a few weeks during the summer (when the tenant lives elsewhere). 

But by adding discounts 3ish months out, we are getting longer lead times, so people are booking farther in advance and locking in at higher rates because we have more competitive pricing for those people that are planning further ahead.

We put in almost $9ml of our own money into the deal to lock it down.

Do you keep it on your windshield in plain site or locked away in a vault?

Words a crude device for what goes on in our heads, but they're all we've got!

I just don't want to get locked into something and then not be able to sell elsewhere.