All Forum Posts by: Brandon Brown

@Ericka G.  This is a no brainer - sell.  You mentioned the properties have increased 60% and you own 3 outright.  You should realize the equity and appreciation then 1031 into ( insert your choice here).  You’re in a great position right now.  Best of luck to you.  Also listen to bp podcasts 238 there is a lot of applicable info to your situation.

As @Ian Walsh said, if you gotta ask you already know the answer.

I do both.

1 appealing factor for 401k investors is that the barrier of entry is low.  As all of bp knows the barrier of entry for real estate is relatively high compared to 401ks.  

Another way to look at it:  if your dollars are working for you, do you want them all working in the same place?  I prefer diversification.

@Mauricio Botero

Since you indicated this may be a rental I would put it under the stairs.  The picture idea you posted adds awkward space in the living room.

most town houses and apartment I see with this configuration in TN have a hb under the stairs.  They're a little tight but function well imo.

@Christian D. that sounds like a solid plan for switching and my tenants like the convenience.

As far as the software goes it's pretty solid, I don't have any complaints. there is a function for maintenance request but I haven't used it.

I'm not sure how long cozy delay is but there is also a delay in tenant cloud it's about a week not a deal breaker for me.

This is another point for buying vs renting your home that's often overlooked.  You have to deal with landlords and their "screening process".  Good luck to you.

I would check with the bank your deposits are going to for your co-owned business.  If you have consistently deposited revenues into a bank from your business and have 2 years of taxes they shouldn’t have a problem loaning you money.  If they do find a different bank to handle your business accounts.  

I use TenantCloud for my 2 units (also relatively small).  What I like about it is the flat fee structure of $9/mo for up to 150 units.  It also provides online payments and clear income statements.

@Christian D. will you share you plan of switching from bank deposits to online?  I have found it easier to start a lease using the software than switch mid term.

I used a fha loan with 3.5% down on a duplex house hack.  I brought a little under 6k to closing table.  This 6k came from saving for 2 months from my w2 income.  That was pretty easy, now I’m saving 100k for a down payment on a commercial property (which is a bit more challenging).  The ability to raise and build capital is the reason a lot of would be investors never get started.  

I have a guy that mows every 2 weeks.  He automatically receives a check from my account every month.  I added this expense to the monthly rent.