All Forum Posts by: Chris Shaw

@Jonathan Greene

We are selling just to start investing. It would be a slight upgrade (adding 1 room) to where we are now. Phoenix and Vegas are just areas we looked at since we have family there and we visit frequently.

Never really thought about a cash out refi. This could be an option.

@Thomas Corley

I was giving the plan that we are prepared to stay in the SFH for 2 years to avoid cap. gains tax.

Is it possible to buy a primary residence at the same time as using the profits from the sale to buy a MFH as an investment? Would there be any challenges?

Hello BP!

So I'm in the process of selling my primary home as we speak. I should net a decent amount for the house. The plan is to buy another SFH with FHA (we can do conventional)

With the other cash from the sell we planned on buying a MFH in Phoenix, AZ (or surrounding areas), or Las Vegas.

After a year or so we plan to refi out of the FHA, rent out the SFH and find something more long term.

Can this transaction be done sooner? As in buy both at the same time. Lived in the house more than 2 years so I don’t have capital gains tax (as my Agent says). Anything I should be aware of? Did I over look something?

thank you @Cara Lonsdale. I was also wondering how this worked. 

Hello @Katherine Canaber welcome to BP! 

@BrystonWisekal Thank You! great way to bring it to perspective "boots on the ground".

@JacobBlackett What were some of the issues you came across in investing? Knowing the market in the area is something that is on the stop of my list. 

@KarenBarber well said the PM works for me! Thanks for the advice. 

@ChristineKankowski i sent you a PM. 

Hey BP,

I've been looking at properties to buy and hold in California(where I reside) and as you know it's quite expensive in some areas. I've been considering looking out of state to start my real estate investing.

Other than the distance of the property, which I would either get a management company to over see it or go myself. What are the cons of this? What are the pros? If anyone has any advice on this it would be helpful. Looking to start this within the next 3 months.