All Forum Posts by: Dan Hall

@James Wise thanks for the sound advise, looking on Zillow and seeing what is available at the 85-100k range is a vast difference in some areas compared to the 50-65k range.

@Ali Boone Thanks for the sound advice, I’m leaning towards the turnkey class B homes as a safer way to start with diligent homework being my first long distance investment. As I gain experience and relationships with agents, contractors and property management I will feel more comfortable with the brrrr method. Thanks

Thank you all for the feed back I have much to learn, I tend to agree with Travis DeForge and Chris Mason on my holding and saving for the next property.  Jim K. you have a point to a degree regarding taxes but in this instance since it was a inheritance I only pay taxes on the above appraisal amount at time of purchase which was 385k so we would pay the difference on the current value.  Another thing you pointed out is the timeline of reinvesting this money would be daunting for me at this beginning stage of my learning curve. 

Thanks  

I'm looking for advice, my wife and I have been blessed to inherit a duplex from my father in-law in his passing and share this with her sister so we are 50/50 partners.  My dilemma is that we own this 100% and cash flow $1200 a month so each party gets $600 a month once all costs are paid.  I know this hardly sounds like a problem but my thoughts are as follows;  The value is $450k so if we sell while California real estate is on this unrealistic high we pocket $225k cash and how many homes in the Midwest could we parlay this money with?  I see all these posts and podcasts regarding 65k deals in the Midwest with various ways in buying with cash.  I'm new to the rental business but am really looking for feedback from some of the pros as to what they would do if given the same choice. Is this a one in hand two in bush thing or should I pull the trigger? 

Thanks, Dan