All Forum Posts by: Henley H.

I am looking at a property scheduled for auction, however, the prospect of paying all cash without title insurance for a property I have not been inside is daunting...

Is there anyway to approach the borrower or lender in advance of the auction with an offer?  I found the house on an auction website rather than in the local paper.

Is it possible to pay a title company for a report prior to auction and have them offer a guarantee of insurance coverage if you are the high bidder at auction?

Thanks in advance for any insights on the process!

Thanks so much!  To clarify, it won't raise flags if I myself am renting a property as my primary residence, while renting the 1031 new purchase out to someone else?

I will be selling my property with two homes on it- one has been my primary residence and the other a rental.  I would like to take what will be approximately 1/2 of the sale profits (those attributed to the rental home) and do a 1031 exchange with a new home that I will then rent out.

I hope to then rent a place of my own in another town.

Would this be alright?  Thanks in advance!

Thanks so much for the helpful information!

I am looking at selling and investment property and would like to do a 1031 exchange. Their is a possibility that the new property I purchase for the 1031 exchange will eventually become my primary, owner occupied residence.

How does this work from a tax standpoint and what are the implications?

Thanks in advance!

I am looking at selling and investment property and would like to do a 1031 exchange.  Their is a possibility that the new property I purchase for the 1031 exchange will eventually become my primary, owner occupied residence.

How does this work from a tax standpoint and what are the implications?  

Thanks in advance!

We've got a home listed for sale by owner and have been contacted by buyer's agents asking if we'll work with them- meaning give them a percentage of the sale if they bring the buyer.  Typically they ask 3%.

Is this a good idea and, if so, is their a way to best negotiate the arrangement?  Thanks!

We have a tenant who will be moving out of a rental cabin soon-  While renting, he used many nails throughout the house.  He hung many paintings, however, I think this falls under 'wear and tear' for our state so we do not intend to charge him for those nail holes.

He also used many nails throughout the house in the pine hardwood floors, pine baseboards and log walls (he had wires running everywhere and evidently wanted to secure them).  What is the most appropriate way to deduct for the expense of all the nail holes in the wood?  Also, any suggestions as to the best way to fill the holes? Is wood putty the only option? 

We really wish he wouldn't have done this!  Thanks in advance for any and all thoughts!

Thanks for all the feedback!  I guess I was curious, specifically, if it would be appropriate to ask the current tenant to make sure the home is clean prior to a showing, or if that would be over stepping?

We have a rental home with a current tenant who will be moving out in a 2 months.  We would like to advertise the home and show it to new, prospective tenants.  The current tenant is not clean- the bathroom and kitchen are particularly unkept, and the house smells as a result.  I do not want to show the home to prospective tenants when the house is in this condition.

Any ideas on how to navigate these waters?