9 April 2024 | 4 replies
If it is priced right, then moving it off market should not be an issue.Reach out to your network of industry contacts is huge as well.
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10 April 2024 | 16 replies
I am about to sell one of Properties because of the rental problem in Baltimore.while one of properties is waiting for section 8 rental to move in, the property was broken in and I have to spend so much $$$ to fix repairs and replace the appliances that were stolen. it is very frustrated situation.Please ring the i can share some my experience with you.Thanks Kathy
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9 April 2024 | 4 replies
@Nadeem Alamgir - not yet ready to make any moves, still learning our process with this one.
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9 April 2024 | 7 replies
I usually do this to help cover the carpet cleaning costs once the tenant moves out.
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9 April 2024 | 1 reply
This strategic move paid off handsomely as we were able to command higher rents than initially projected.Here are the key financial details of the deal:Purchase Price: $270,000 (jointly with a partner)Financing: Obtained a commercial bank loan with a 30% down payment, 7% interest rate, and a 20-year amortization period.Initial Rents: $1050 and $1250Current Rents: $1400 and pre-leasing for $1500 (making it a 1% rule deal!)
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9 April 2024 | 5 replies
Now, you still have to comply with all of the standard 1031 rules -- including (A) buying properties that are at least as valuable as what you sell, and (B) moving all of your equity from the STRs into the LTRs -- then you may still pay some taxes even with a 1031.
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9 April 2024 | 21 replies
Quote from @Andrew Steffens: I would feed comfortable moving forward.
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9 April 2024 | 7 replies
I told her she could buy it, hire a licensed electrician to install at her cost, and have licensed electrician replace with original light upon moving out, also at her cost.I will note that in general, while you are always able to be nicer to your tenants, and there are times I think this is worthwhile, if you are not required to under NYC laws, I would not set precedent that you do these things for the tenant at any out of pocket cost or work for you.
9 April 2024 | 5 replies
I won't shy away from rough neighborhoods, but bigger margins are needed to move them fast.
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9 April 2024 | 7 replies
Which they move out when they sell to you.