All Forum Posts by: Jack B.

 I worked hard, MBA, 20 year tech career, so I could pay 100K a year in federal taxes for lazy and dumb people to get free housing, free health care and free food while they pop out more kids. Neighbor has 9 kids, lives in a section 8 property. The more kids she has the more she gets. What a great point you make....not.

I'm successful because I sacrificed and worked hard. They live the same lifestyle on my efforts while not working at all. Since you're so pro socialism, why not send me some of your money?

The stimulus opened the door to 24K a year free money on top of free health care, free food, etc. So you're looking at closer to 60-70K a year for most loser and deadbeats.

Given the current climate. I'm getting more and more worried given the legislation the socialists are trying to pass. My tenants have paid thus far. But I worry....there is no recourse against them if they stop paying and they know this. Getting them out due to other violations is the only way now. So what kind of issues are likely to get them out if it comes to it?

This is definitely scary AND outrageous! Yeah Trump and Kushner may not not let this pass now, but the fact that a certain political group is so ready to get votes at the hands and expense of hard working landlords who earned their investments is troubling. Trump is in office NOW. But he won't be forever. I could see Drunk Joe giving away our money. What is the point of even owning property if people can just move in and live there for free at your expense? I already pay over 100K a year in federal taxes on W2 income so others can get section 8, free healthcare and free everything. Now I have to pay 150K downpayments to give away housing? WTF? 

The 2/5 year rule does not work the way you think it does once it's been a rental, so much  bad information on this forum. I live in Seattle as my profile clearly states. I said I've owned the house basically 7 years and you're asking me if in 7 years property values have gone up at all/the house has gained value/are there even gains to claim? 

And then you tell me that the gains are not taxable unless I've been deducting appreciation? Ummm...there is depreciation RECAPTURE but that has nothing to do with capital gains being taxed or not, and depreciation recapture happens whether you use it or not on your returns.

Dude you really should not post information as literally NOTHING you said is accurate at all. And your profile even says you're an accountant...

Yes, there is a quicker way. Cash out refinance the money. Then eventually rent it out, keep collecting properties.

I lived in the house bought as a primary residence for 1.5 years. Rented it out for 4 or so years after. Moved back in for 2 years with the intent to rent it back out after I moved back out again (moved back in after I sold my other house I was living in). It's been listed for 2 months and all I get are around 500 credit score applicants now. Wasn't like that before. Never had any vacancies even in winter.

So I'm wondering if it just being listed as a rental the last two months combined with it being a rental previously qualifies it as a rental for 1031 exchange or not.

I lived in the house bought as a primary residence for 1.5 years. Rented it out for 4 or so years after. Moved back in for 2 years with the intent to rent it back out after I moved back out again (moved back in after I sold my other house I was living in). It's been listed for 2 months and all I get are around 500 credit score applicants now. Wasn't like that before. Never had any vacancies even in winter. 

So I'm wondering if it just being listed as a rental the last two months combined with it being a rental previously qualifies it as a rental for 1031 exchange or not.

1) The statute of limitations has likely expired

2) It would cost you more to sue than you paid for the property

3) In my state and many others, there is case law that shows that even if the seller outright lies on the disclosures, due diligence is on the buyer and as such, the plaintiffs would have no legal case if they brought one.

What is the foreclosure process right now in Oregon? Friend sold a place, house is paid for, she carried the note. Tenant stopped paying 3 months ago.

What are her options here? From what I understand it depends on the type of deed. This is a trust deed.

What is the foreclosure process right now in Oregon? Friend sold a place, house is paid for, she carried the note. Tenant stopped paying 3 months ago. 

What are her options here? From what I understand it depends on the type of deed.