Eva Fox
1031 exchange and another questions
28 October 2021 | 6 replies
I have rental property, which I want to sell, but ....gain taxes.In my case it is exeptionalyl painfull, because I obtained this propertyas the part of divorce settlement and I am older person now.I already spent a lot of money for professional consultations, it helps but not to the end. ( lack of preperation from my site)I am in the process now to educate myself , as much as I can about 1031 exchange option.I want to be able to ask right questions during next expensive meeting with the lawyer orCPA.What I am looking for over her, for precious help....I am looking for recommendation of the websites which offer help with 1031,and this is their business,they do not require the client to be accredited investorthey provide the listing of properties for saleand what very important, they provide at least closely estimated analysisof the deal. ( price, rent amount, property taxes, other costs etc)After my investigations , I am the most interested in rural California,or Atlanta Georgia, or Charlotte North Carolina.During my searches I found website of type I am looking for, I think it was Atlanta,their listing was very limited, but provided this analyse.but I did not save it ( did not realized how preasure it was) and can not find it again.So please, if someone went through 1031 exchange process, please share the websideswhich helped to find the right property, even better if they manage rentals.My case is so pityful, so the cost to even higher limits is wort it.Thank you very much evaP.S:My expectations, with flexibilityTo have at least 600k from the saletake 120-150 k cash ( pay taxes on this amount)Invest in 2 sigle family housesTo have close to 2k cash flow from the rentpossible ?
Matthew Masoud
Long Distance Airbnb VS Traditional Rental
22 October 2021 | 3 replies
Traditional rent would go for $650 but I estimate I'll pull in about $1,200 (gross) from Airbnb.I'm moving to California in a few months so I'll have to set up systems before I leave (cleaning, check-in, check-out, etc).
Joseph Lyons
6 Unit Multifamily Insurance
26 October 2021 | 8 replies
You can use that 50% as an estimate of what will be taken off a claim (Insurance Company Adjuster is the only one who can determine exact payout).
Adam Craig
Ideas on how to offer equity instead of a flat % return?
22 October 2021 | 0 replies
The estimated ARV on 8% cap rate for this building is 1.4 million.
Evan Swanson
Barriers to Entry Increasing for Rookie Real Estate Investors?
3 November 2021 | 21 replies
The combination of accumulated new construction deficit and sudden shift in millennisal thinking caught the housing industry by surprise, and with their pants down so to speak.To give you an example: the Milwaukee metro area has about 1.6 million people, about 360,000 of them are millennials, theoreticlly that makes 180,000 couples who are or will be soon looking to buy.
Logan Jones
Tallahassee House Hack
5 November 2021 | 4 replies
How did you come up with that estimate?
Clifton Monte
Wife wants me to buy her Grandparents' home to rent after 1 yr..
26 October 2021 | 27 replies
Monthly Income: Monthly Expenses: Monthly Cash Flow: Pro Forma Cap Rate:$1,550.00 $2,248.06 -$698.06 2.35% NOI Total Cash Needed Cash on Cash ROI Purchase Cap Rate$8,124.00 $20,349.00 -41.17% 2.35%======Financial Projections======== Total Initial Equity: -$334,650.00 Gross Rent Multiplier: 18.55 Income-Expense Ratio (2% Rule): 0.44% Typical Cap Rate: 2.35% Debt Coverage Ratio: 0.49 ARV based on Cap Rate: $345,000.00=======50% Rule Cash Flow Estimates======= Total Monthly Income: $1,550.00 x50% for Expenses: $775.00 Monthly Payment/Interest Payment: $1,375.06 Total Monthly Cash Flow using 50% Rule: -$600.06========Analysis Over Time==========Annual Growth Assumptions 3% 2% 3.4%Expenses Income Property Value_______________________________________ Year 5Total Annual Income $20,536Total Annual Expenses $28,645Total Annual Cashflow -$8,109Cash on Cash ROI -39.85%Property Value $407,776Equity $111,347Loan Balance $296,429Total Profit if Sold $49,939Annualized Total Return 28%
Eric Michiels
Additional funding needed for a flip (quesiton)
24 October 2021 | 6 replies
Either get better at estimating rehab costs or but better (with more discount at purchase) to provide a larger spread for these occurrences.
Manco Snead
Inspection Shows Roof Issues: Now What?
23 October 2021 | 4 replies
I want verification of sheathing quality, venting, along with repair estimates if needed with venting if I'm going to move forward with the deal.Much thanks.
Kenzie McIlvoy
How can we qualify for two mortgages when buying first rental?
23 October 2021 | 1 reply
I believe the best solution would be to classify the new purchase as investment, rather than primary, using Conventional financing, and request the lender to have the appraiser add on a 1007, wherein the appraiser provides an estimate for the long-term monthly rent.