All Forum Posts by: Roland Nelet

Hi BP community !

Does anyone know a good resource (Youtube or other) to learn just enough to be able to have a more informed conversation with my contractors ? Right now, I would not be in a position to challenge my GCs on anything in the scope of work. I basically need to trust him (which is a different position to be in).

Thanks in advance ! 

Hi,

I'm a dual citizen US-FR, I will probably spend a lot of time in France in my old age, although not quite sure I will make it my primary residence. I own a few properties in the US, and started looking at diversifying into French assets. However, my research so far leads me to believe that the French market is far less appealing than the US market, mostly for tax reasons. In the US, the current tax code enables one to defer tax in perpetuity, through depreciation, 1031 exchanges, and cost basis reset when the assets are passed on to the next generation. In France, it seems like if you set up an SCI, you can defer also defer the tax, but sooner or later the distribution will be taxed (30% IIUC). Am I getting this right ? If so, I guess I will stay away from buying property in France.

Hi BP friends ! 

I am a number's guy and I was wondering what/where to get the most recent statistics on the trend of a local market (such as months of inventory, number of listings with price reductions and other relevant data). Is there a good resource for that ? Thanks in advance ! 

Roland

@Natalie Kolodij

Very useful thread, I would appreciate if you could weigh in on some followup questions:

-  Is there a time limit for spending the cash out refi to reap the tax benefits ?

- Also, because money is fungible, money tracing could be ambiguous. What happens for example if I put the proceeds of the cash-out refi in my bank account and spend some of it on other items ? Say I had 10k in my bank account and I put in the 100k proceeds from the refi. Then I might pay some bills, buy stocks, the balance drops to 90k. A few months later, the balance goes back up to 110k and I buy a rental property using 100k for a down payment. In that case, can I claim the tax deduction ?

Thanks in advance ! 

R

Thanks Corby, my question was not so much about rent collection. I pretty much gave up on that, I will get the security deposit at the end of the lease to cover missed rent payment.

My question was more about the right to rehab the property and place a new tenant before the end of the lease if it is clear that the tenants left (they sent us a text message upon departure). My property manager claims that we have no legal rights to do so, which I find bizarre.

Thanks Kathy. They are definitely out: they sent a text message upon departure. My property manager claims that we had no legal rights to access the property before the end of the lease, which I found bizarre: that would mean that if your lease still had, say 5 years to go, then you could not re-rent it during that whole period... I found that to be very unlikely.

Hi all,

I sent a notice of lease termination to my tenant. The tenant left before the end of the notice period. Do I have the right to do renovation in the property and place a new tenant or do I still have to wait until the end of the notice period ? The property is in GA if that helps. 

Thanks in advance, Roland

Hi I'm in similar situation. My question is : do I have the right to do renovation in the property and place a new tenant before the end of the lease if a tenant left before the end of the notice period ? The property is in GA if that helps. Thanks in advance, Roland