All Forum Posts by: Robert M.

Personally, I would max out the tax-free Roth and save a little longer to buy that investment property if possible. Tax-free Roths are an absolute no-brainer.  Our Roths have been exceeding 18% returns, that's hard to beat when TAX free. 

Concerning the new law, 5 years owner-occupied rather than two (current law is two years) years owner-occupied so to avoid the capital gains on the profits from the sale. I was under the impression that one could avoid paying any capital gains if one sold the property due to health or job placement x miles from existing sold property. Basically, one could own a property for less than the two-year mark, sell and pay no capital gains on the profit so long as the sale was for health or employment relocation reasons. Does anyone know if this loophole is still legal or even obtainable within the new proposed law?

I agree leads can be tough in this market, especially good ones.  My advice would be to keep putting the word out. I continuously keep in contact with people that are in the real estate business. These people will tell me about deals and if the deals work out and close I always show my gratitude with a fist full of Benjamins.  "Thank yous" are great but they don't keep the deals coming back. Get in the network and the deals will come, but be patient it takes years to earn trust and create a network. Hint, Tree service companies(timber states), every property manager you can find, every real estate agent you can find, any mortgage broker in the desired zip code, county taxation dept loves free pizza Fridays. When people ask, how you doing?  Reply with, wish I could find more deals. X mas cards go along way. It's along long way to the top if you want to rock and roll. 

Might give US Bank a call. I believe they had a program that included no down payment, no closing cost, and free appraisal.

Sound like you are doing great and are on your way. Hopefully your house is paid for and you are aggressively paying down your investment debt to reduce your liability. Don't be a slave to the lender any longer than needed. As Dave Ramsey said, "100% of foreclosed property's had mortgages on them."  The future is untold, so understand risk assessment and leverage.

Best of luck on your journey 

Its my opinion, once inventory  catches up with demand the average price will stabilize then good deals will be even more possible.  I believe its like a farmer bragging about what he or she $got$ for the crop this season because there was a shortage at the market.  After news like that all the farmers plant the same crop next spring, which saturates the market, resulting in a drop in price. Over supply.  Its also my opinion that if or when gas prices and interest rates rise, housing prices will fall.  For us, we are focusing on paying down our investment debt and will leverage our current paid down property's if a deal comes by. Until then, we are out of the game. In the words of the Oracle of Omaha; "Buy when people are fearful and sell when they are greedy."

I agree, there is no bubble, however this market i too hot for us to buy right.  I would save your money and be patient unless that no brainer deal slaps you in the face. 

Best regards 

No licence, no case! Be sure to have him fill out a 1099 lol 

Lesson learned.

Im having a tough time finding good valued single family homes for my buy and hold investment strategy.  Looking forward to higher interest rates, might help put things back into monetary perspective. Not so sure rents will drop all that much though.  Sellers market could be running on fumes sort of speak. Time will tell, as this shift could take a year or two, so many variables to factor in. Thanks for the reply's  

What do you foresee happening with in the housing and rental market now that Janet Yellen has increased rates and has alluded to at least three more hikes in 2017?

NO!

Rules are there for a reason, start bending them now and open Pandora's box.  Look for the "YA BUT" excuse to be a part of future tenant landlord interventions. Its a business,treat it as one.