All Forum Posts by: Inna Hurin

Just curious if anybody created What's Up chat for this topic? 

Just got another update from Wagner on Nathi townhomes and its just a lot of talk, but I don't see any progress. I also looked through the monthly letters that he's sending with the updates and they are basically the same (March & Feb are identical). I heard that this builder is in trouble on another project as well...This worries me.

Steven, curious if you went for the Grove? We are currently looking at purchasing there...

Hi Kay Kim, 

We are in contract on a townhome in Palm Bay with Wagner, closing is delayed till Oct and I just asked for an update on it. Wagner was recommended by my cousin who purchased a few properties with them and he's happy with the process. I know a few more people who's purchasing with him, from what I hear, every single closing was delayed due to supply shortages or other reason. 

What market(s) would you invest if you had a million dollars in cash to create enough cash flow and quit your job. Is it realistic to get at least 10K in cash flow on a million dollar investment (preferably new construction)? 

@Derek Jones Can you elaborate a little more on your comment? I've been looking at Folsom area as well to invest in SFR and potentially move in the next few years with my family. But math just doesn't work out for me with 20% down-payment.

What other cities around Folsom would be profitable to invest in SFR to rent? Also, how is the real estate market there right now? Things are cooling off in the Bay Area and we see a lot of price reductions...

I am looking for recommendations for a good accountant/tax advisory who's knowledgeable in real estate. 

I need to analyze my financial situation to see when is better to pay capital gain taxes on our rental property we are selling- this year or next. 

Please send your contacts my way!

Here is my dilemma- do a 1031 exchange or sell, pay taxes and use funds for our remodeling project. 

We are currently in contract to sell our rental property in CO (we live in CA). 

Bought it for $411K, selling for $460K, owned for 1.5 years. 

I claimed $10K in depreciation for 2016

I anticipate $25-30k in closing costs

My questions is how much tax will I have to pay in capital gain and depreciation? Will I also have to pay CA & CO tax? I know CO will withhold 2% of purchase price...where would that go and how can I get it back? 

Any feedback is much appreciated!  

@Patrick Liska I do have move-in checklist completed. I was just looking for something what Michele posted to send to the tenant before move out inspection so we can avoid any misunderstandings as to what our expectations are for move out cleaning. 

BTW, if we steamed-cleaned carpets before move in, does it mean we can ask her to do the same when she moves out? or is it considered normal wear and tear? 

@Michele Fischer This is a great sample letter! Thanks so much!

My tenant is moving out soon. Her lease states that the place has to be left in the same condition as it was when moved in. To avoid any issues later when she is out and its time to give the deposit back I wanted to send her a checklist that would cover things more specifically. Where can I find such a list?