All Forum Posts by: Bill B.

Yup. Good for you if wife dreams the same. I think cruises less than 20 days are a waste and 90-180 would be ideal. My wife thinks 2 weeks is long and we’ve done most of the Western Hemisphere ones. The Baltic Sea was good too, getting into Russia and Estonia was good. 

I looked in to the world cruise ship apartments. The 50 year “lifespan” worried me a little (it’s 16 years old now) but worse it’s about $20k/mo in fees after you pay for the apartment. You could do a pretty nice cruise ships for that. (Take a 90-180 day cruise.)

Ps. There’s a new ship coming out in August with prices about 80% lower ($200k-$2million) but the fees are still about $10k/mo. 

I use quicken, a property manager and 1 account to manage 12 single family home properties in 2 states. If you don’t mind entering the reason for the checks written and deposits made there’s no reason to have an account for each property, much less 2 accounts. 

Ps. I don’t know if you’re holding the security deposits but if so look up your states laws regarding that. My one oos investment is in MN where it must be held in a separate account so I opened a cd for that. 

@Jay Hinrichs

Hey jay, have you ever built new fourplexes? I was thinking a small 2-8 complex of fourplexes. If there’s one thing we don’t have in Vegas it’s nice/newer fourplexes. Or is zoning/local government going to shove us off to worst neighbordoods? ( I was thinking of trying an edge of an opportunity zone to find fellow investors and buying 1-2 myself in 1031 exchanges.)

I was hoping they’d allow the new fourplexes that look like 4 side by side row houses if they didn’t like the 80’s square box models. 

I know you’re usually much more high end but I was hoping for a builders opinion. Thanks. 

Brian @ key properties has been good to me over the last 10 years. (They were my second choice after first pm didn’t have a tenant after 3 weeks for a made ready property.)

12 properties over almost 20 years I’ve had to file for eviction late (they moved out pre-eviction), my average tenant stays a little over 4 years, my longest vacancy is under 2 weeks, I get 1 late payment every couple months (they split the late fees 50/50) if the repair is under $250 they just do it, over that they ask and I’ve always said yes as they haven’t made a bad request.)

It’s pretty close to mailbox money once you get more than 5-6 properties. The first couple can be stressful. 

You depreciate the left over non land portion of the property. But you also had to buy a property worth more than the one you sold to avoid taxes. You didn’t say how much you netted from the sale of the original property  you only gave the gain  

Ie. in your example above you sold a million dollar property and netted $400k after sales costs, with a $200k capital gain and bought a $350k rental, you still owe pro-rated taxes.

To be tax free you had to sell a property for less than $350k net in your example. 

To add on jay’s idea about opportunity zones. He also only has to invest the capital gains in the oz. he can take his original investment and put it in his pocket. 

@Ashley Hamilton

Be careful Ashley. They are close to zero legal air bnb Las Vegas condos. They actually pay government employees to scan Airbnb and send out the violations. Because of the distance requirements between each Airbnb there is usually one legal condo per building. And they’re trying to get rid of those. 

Google Airbnb Las Vegas fine. The first one for $73k is the one that made the news. The rest are just $1,000/day type fines. 

If 3 apartments in the fourplex can bring in $5,000 a month on a $2500/mo payment. Just pay the minimum amount. Repeat it in a year moving in to another fourplex and renting out the apartment you used to occupy.  Now you’ll have $11,700 to pay $5,000/mo. Do that 1 or 2 more times and you have $150k a year in income with 2.4million in property   Then you can start paying off fast if you want   

Nope. They make buyers feel good when they are purchasing but pretty much an open secret they are almost worthless. 

There’s a deductible with every repair that can rival the actual repair cost. You have to use their repair guy. If it’s summer and your ac goes maybe their guys is busy and he’ll be out there in a couple days. And then maybe he needs a part that will be in stock in just a couple days. 

The only one that could POSSIBLY be worth it is the very cheap ones offered through the local power company on just hvac. I think my mom in MN pays $4/mo and they cover entire system. I think they will even cover an already broken system.

But no, the home warranty coverage is just like an extended car warranty not provided by the manufacturer.