All Forum Posts by: Ana Brasher

I have read that real estate investors look for property that meet the 2% rule.  The monthly rental of a home should be 2% of the home purchase price.  I have not seen any properties close to that %.  Occasionally I will see properties at 1%.  Many homes are overprice but even at tax assessment value, the rental income is not meeting the 2% rule.

Am I mis-interpreting this rule?

Thanks!  It sounds easy enough.  We have already lined up our first renters.  Thanks for your response.

Thanks!  

Yes, we will sell the lake house property in a few years.  We just want to convert it to a rental now so it can qualify for a 1031 exchange at that time.  How do we demonstrate that it is a rental property?  A listing on AirBnB?  Receipts from rentals?  Thanks!

We enjoyed our lake house for many years, but it has been very idle for the last 2 years.  We would like to convert to a rental home and qualify for a 1031 exchange and invest in a rental property in Colorado.  We know some people that are looking for rental (1-2 months) while they are finishing up their home re-modeling.  How do we demonstrate (for taxes) the rental of our home?  

Do I need to be a real estate agent if I am buying, selling or renting my own properties? Is the license needed to do those activities for 3rd parties? In Texas.

Appreciate your input.

Appreciate the feedback. 

Do I need to be a real estate agent if I am buying, selling or renting my own properties?  Is the license needed to do those activities for 3rd parties? In Texas.  

Let me know your comments.

I am considering obtaining a real estate license (Texas) for greater access to MLS and to avoid paying buyer's commissions on investment properties. It is required that new real estate agents work under a broker for 5 years. Do I need to work under a broker if I am only representing my own interests (not buying or selling for others)? Let me know your comments.

Thanks Everyone. Very solid feedback from STR community.

Good to know!  Base purchase price on comps and appraisal.  

Thanks for your help.