All Forum Posts by: Carson Plant

@Joe Villeneuve

1. Property one I could get refinanced and get $50k off loan. It four plex that I have $100k in appraise for $175k. It bring in $2200 month in rent

The other property are about the same.

So rental are good when I said 2% i meant I have 100k in it and I use the 2% rule should bring in $2000 in rent

@Timothy Hero

When I’m saying 2% I’m saying if I paid 100k for it it bring me in $2000 in rent

@Joe Villeneuve

Yes

@Joe Villeneuve

$50000 in equity I could refinance and pull $50k on each property and invest that $150k into more properties or sale one property and have $75k to invest.

3 properties with $50 in equity on each one. Should I refinance and pull the money out to invest into more properties or sale one and keep two with equity? All 3 properties cash flow 2%. Can sale one property and make $75k or should I refinance it.

I have lived in a house for only 1 year but work is having me move out of state. Will I have to pay taxes on money that we make, can I do a 1031 exchange or is there something else I can do to help on taxes

@Wayne Brooks

Thank you

@Dave Foster

When you say 45 days to identify property, do you have to close on the property or just have it under contract in 45 days and yes I think both of you are right in need to get QI. What is normal charge for someone being a QI. I’m learning and know I probably should already know about a QI but truth is I don’t.

I have been working on selling a property and then reinvesting into another one. I’m supposed to close on both properties on same day but the one I’m selling just called and put off sale unit a week after I close on the property I’m buying. My question is can I still do the 1031 exchange? I tried putting off the property that I am buying but I can’t so will have to close on it now before I sell the property. I also my taxes lady said as long as it in the 45 days I can do it but I’m not sure about that.

I have a little experience with property management but I did go through a real state office to manage 3 duplexes but there wasn’t a lot of communication between us maybe normal. I have always managed my own but it starting to get bigger than me and my questions is are there just property managers that is all they do and not realtor as well. What is a normal charge for a property manager if they managed 25 doors.

Communication I would like

1. To know when someone not paying and a plan of action

2. A monthly drive by of property to make sure it look good

3. Filling Vacancy with a date that it will be filled

4. Eviction process that they will take care of it

5. Quarterly walk through of homes

Please add to my list once again I am really wanting to learn more.