All Forum Posts by: Christopher Eduardo

Hi,

I have a question regarding a seller who is currently in chapter 13 repayment plan. Their plan last payment is scheduled for Nov 2024. The question is, if they decide to sell, how will that work with their chapter 13 plan and what happens to the capital gains? Any help is very much appreciated. Thanks guys.

Thanks for the replies guys. It really helps! I have started contacting listing agents around my area and I'm getting ready to start making content. I am planning on including the listing agents name and info in my descriptions to make sure they are getting credit for the listing. Do I have to take down the video once the that property is sold, etc? If so, that does really sound difficult to be able to keep up with its status. Can anyone confirm this in Florida? Thanks guys.

 Awesome! thanks for the pointers! Really appreciate that.

Hi,

I am newly licensed agent and I'm just starting my journey. I want to solely focus on social media as my main source of marketing and lead generation. Mainly just film video tours of properties (new construction, resale, etc). Basically, what we already see all over online in our socials. What's the best approach into getting some properties to film content and post online? Are there any restrictions or things "not" to do? Any advice and pointers are much appreciated. I'm also open to any other ideas that is proven with results. 

It's been a bit overwhelming trying to get myself started with this new career so any bit of advice helps. Thanks guys!

Chris

The property is literally borderline Lake Nona/St. Cloud. About 5 mins away from Laureate Park. This is a great property to hold on to with all the growth and Sunbridge project down the street. Also, the size of our lot along with the high end custom home build is set up for great upside appreciation. That was the ultimate goal of building in 2020 here.

We are just a bit tapped out on funds since we reinvested everything we have in this property. We just have all our funds tied up into this unless we cash out so we are trying to think of ideas to create cash flow without having to sell atleast for the next year.

To answer questions and to give more info:

We built a custom home here in the Lake Nona/St. Cloud area in Orlando. Very desirable area and really one of the top growing areas in Florida and maybe even the nation. We have a 5bd/5bath and an office 2 story house that's fully upgraded. 2 car attached garage and a 3 car detached garage. Osceola county and No HOA. As far as I know, we should be able to do STR if decided to. Market value around 1.3-1.5m. We are about 900k into the build.

My main goal for the build was to live in it until it's time to resell. Just trying to take advantage of the favorable market when its good time. We have been doing this since our very first home back in 2008. This is our third home. 

There's no urgency or rush currently on the home but at the same time, I don't want to exhaust all our reserves and financial risk as we have most of our funds tied up to this home. If it weren't for the capital gains taxes, I would be listing it already. I just recently became a real estate agent as well, mainly because it can help with costs of selling and buying homes as well as the benefits of having the license when investing in real estate.

So, I'm just trying to brainstorm and get ideas on what are some good options for this property. If we could keep it and build another one, we would but we are not in a position to do that just yet. The ultimate goal is to keep the investing and growth going. I'm open to any of your ideas and appreciate it.

I know cashing out is what we initially wanted to do and 1 year was planned to do that but after calculating the costs to sell now, we are trying our best to hold off until the end of next year. It will be financially tight though so I'm trying to plan and prepare now.

Hope that helps and thanks for your guys inputs.

Happy New Year! Here's to an even better year =)

We built a custom home to live in as our primary residence. It is up in value but we are trying our best to stay here for another year in order to use the 2 out of 5 exemption. However, we built this house as an investment and we are needing some ideas to cash flow out of it until we can cash out. 

What are some of your ideas in the current market conditions? What is still working and profitable? Should we rent it out long term? Short-term? Just sell it and pay the taxes? Anything helps. Thanks for any suggestions.

Thanks for your reply. Those are my thoughts exactly as far as what we will end up sacrificing if we sell our current home. Maybe look for an investment property is better via DSCR? That way, we can atleast live here for another year to not have to fork up paying taxes on the sale.

Anyone can recommend good DSCR lenders with favorable terms?

Hi everyone,

Our current primary built a good amount of equity. Value 1.3-1.5M with a 496k mortgage with 3.675%. Also, have HELOC for 200k at 10%. I'm curious on what to do next. We only living here for 1 year so there will be some capital gains tax if we sell.

Do we sell now before market loses value? Take whatever cash we can take from it and build another house and possibly get an investment property?

Stay put another year to qualify for tax exemptions but risk the value going down and the unknown conditions a year from now?

Rent and put current home for rent (short term, mid term or long term) don't matter for at least the next year?

Really curious what you guy would do in our situation and or any other options you would do. Thanks a bunch.