All Forum Posts by: Charles Huenergardt

@Joe Vastola Thanks for the tip!

@Jay Helms I have not considered pulling a HELOC. My concern with refinancing or borrowing against that house is that it will eat into the cash-flow that we're getting. Is the idea that by using it to buy , rehab, and rent out a new place, we'd be bringing even more cash-flow that would cover the hit we'd take?

@Joe Vastola We have about $100k equity in it.  Likely it would sell higher than the Zestimate so there's perhaps more equity in it than that.  What's the best way to learn more about the 1031 exchange?  Not that I'm going to go for that, but if we sell it, we'd probably want to exchange.  If we keep it, we'll likely have to dump more cash into it to bring the guest house up to code to be permitted.

@Clayton Mobley @Brian Adzadi @Matt K. @Thomas S.  Thanks for the advice guys!  I appreciate it.  The AirBnB is a pain.  So we want to rent both units out long term.  To get the second unit permitted will be in the neighborhood of $20k.  The county is now even talking about require a separate septic tanks for Accessory Dwelling Units and disallowing vacation rentals under 30 days.  So it may be that we have to sell.  We have time.  I think we'd do it in May if we needed to.  Thanks again for the advice!  A lot to think about.

Bought a house last year with a guest house.  We've been renting out the main house long term and the guest house on AirBnB.  We're thinking about either selling the property or renting out both units long term.  How do we go about making the determination on what to do?  Our near term goals are to get more multifamily properties.  It's cashflowing nicely so our questions are do we sell and do a 1031 into a multifamily?  Or do we keep it and find another way to finance a multifamily?