The upper level of society works in ways most of us will never understand...it sadly continues to be a back-and-forth thing of reaction...If our country and Chicago as well could take a proactive long term approach, our kid's kids would benefit in a way we couldn't image....

Selling for $380k means an $80k taxable gain at long-term capital gains rates (0%, 15%, or 20%, depending on income).The $80k HELOC used for personal debts doesn’t affect your taxes.A 1031 exchange could defer taxes, but you’d need to reinvest in another investment property, not a home for your mom.

My main goal is to successfully house hack and start building long-term wealth through real estate.How I Got Interested in Real Estate InvestingI got interested in real estate after learning about house hacking and seeing how it can be a smart way to build financial freedom.

The plan is to purchase a new home & keep current as a long term rental.

If so, consider adjusting your rent or offering incentives like flexible lease terms.

Cash-Out Refinance – Refinancing one of your properties to pull out $30,000 in cash can be an option, though it may extend your loan term or increase your interest rate. 3.

You really shouldn’t be running your business on a stranger googling answers for you but…the google says:  Depending on the rental agreement, Georgia landlords typically must provide a 60-day notice for lease renewals or terminations, while tenants generally need to give only a 30-day notice for lease termination.Jan 18, 2024If a new lease is not signed, and the landlord continues to accept monthly rent, the terms of the original lease still apply, except the landlord is required to give sixty (60) days' notice before she can terminate the lease or change the terms, and you (the tenant) are required to give thirty (30) days' notice before leaving.So you can’t non-renew until the end of April and you can’t even increase the rent until then.

Now after long term tenant it needs new carpet/flooring, paint, bath vanity.

I’m a serial entrepreneur with experience in the tech and food distribution industries, now diving into real estate investment to build cash flow and long-term equity.

Long term?