All Forum Posts by: Andrew DeShong

To elucidate, I most likely will just take a heloc and use that as a down payment.  The rental in question cash flows over $800 a month and I will most likely raise that to over $1k when the current tenants move out.  I just want to run my numbers every way I can to be sure I'm being thorough.

I'm looking into moving into a new house.  What happens if I sold s rental then 1031d a house and rented the new house for a year them moved in? Would I owe capital gains after I moved in?

If it were me, them being good tenants and the fact I'd probably be repainting anyway, I'd just return the deposit.  The disposal most likely is just plugged and the breaker popped and needs to be reset. There's a little button on the bottom.  If not I'd just put a new one in and eat the cost. What's a new disposal, $200?  I'd just fix it and move on. Maybe I'm too nice.

My tenant recently mentioned he would be interested in buying the house in 6 months when the lease is up.  I am thinking about doing it if the price is right, and I think the market value makes it work.  I am just wondering the best way to do this without hiring a realtor.  I want to figure out a fair market price, and have some help with the transaction.  I just don't need  someone to stage and market it, since they guy is already living there.  

Any thoughts would be appreciated. 

I think the guy offering has the intent to get the property re zoned as it is the last house in a neighborhood on the edge of a high traffic retail zone.

Thanks for the reply! That's very good news. I just looked at another property that I think I can get for 130k that I should be able to rent for 1800+ a month after maybe 10k in rehab.  Hopefully I can make all this work.....

I purchased an SFR in September and have tenants in there. I was contacted today with an offer to purchase the home for quite a bit more than I have into it. I know you can do a 1031 exchange on the capital gains of a property, but can I do it on regular income if I sell before the 1 year point? I'm trying to figure out a number at witch I'm willing to sell to make displacing my tenants worth it, as id have to buy them out of their lease and would prefer to have them happy about it.