All Forum Posts by: Jack B.

This guy called the last two crashes, says there will be one in 2026 too. https://www.thisismoney.co.uk/money/mortgageshome/article-12...

But we have the lowest demand since the 90's, even lower than the 2008 crash. Prices in Seattle dropped 20% since rates went up. Did we already see a crash in 2022 and start a new 18 year cycle?

I had done a COR from the ones I had, to buy additional ones. I'm considering selling the original ones I tapped for equity to buy more. Merely doing a COR again in this case isn't going to meet my goal of selling a few and paying off a few. I want to get rid of my older ones due to being in an HOA or other issues that are not ideal.

As in, is there a tax loophole here to avoid capital gains? I know of 1031 exchanges, but this is a bit different....

I took money out of some of my rentals a few years ago to buy more. Wondering if I sell some now and use the money to pay others off, is there some little known way of avoiding the capital gains in this case, similar to how the 1031 does...?

 This. I focused on getting a degree, learning job skills, getting and building a career, saving my money, and bam when the housing market crashed in 2008, I bought a paid in cash house here with my savings even though I had to pay all my own bills since I was 18 (rent, car, etc.). So stack money, wait for an opportunity...timing helps.

 I predominately make my money here from appreciation. I'd like to have a balance of appreciation with low property taxes, and cash flow. I like outdoor activities such as overlanding, plinking, etc. Would prefer to live in a like minded area of other independent people. I don't need to live in town for rapid response LE help, but would like to be close enough to town for dating, etc. I like the idea of acreage without neighbors. I would also like to not have to spend a million bucks on a primary residence there, everything here is expensive and I question why I don't cash out and move elsewhere, simplify my life, quit my W2 job, etc. Any suggestions on location in Idaho?

Quote from @Account Closed:

Quote from @Jack B.:

In a state with no income tax, I'm getting killed by property taxes of 7K a year for each property. Some would be 10K if I had not sold those year ago.

I'm considering leaving this state, it's a dumpster fire, criminals and tenants have all the rights. We were the only state in the country that allowed people not to pay with no proof they lost their job during COVID, etc.

I noticed the other day that houses of similar size and quality in Fresno, CA sell for 250-300K and property taxes are MUUUCH cheaper. Rents are actually the same as my expensive properties here, which cost 3 times what a comparable house in Fresno costs. But CA has even friendlier tenant laws so they are out....

I'd like to find a state where I can 1031 the rentals and have more cash flow and less expenses, as well as laws that aren't outright theft of my property by the government for years at a time to give free housing to people at my expense...(luckily all my tenants paid, but I hear apartment owners got screwed by the bottom feeders. Apparently SFR has higher caliber tenants).

What cities and areas? Please no Memphis, etc. Florida is also out due to insurance costs. I have considered Nashville area...low taxes, more favorable laws, better cash flow and you still get some appreciation. Maybe not as much as WA, but...

In WA You also have high gas taxes and high excise taxes. They make up for it. We escaped "in city" Seattle a few years back. we had properties all over the city. Liqudated them all. And, what you say is accurate, chaos reigns supreme.
We made our way to Scottsdale AZ. Wagon train of cash in tow. We had heard rumors that there is Sun in Scottsdale. The rumors are true. Property taxes are much lower and state is landlord friendly. No surprises. I found a little niche of buying "off market" properties and have made scads of cashflow. Anyone who doesn't find great deals in Arizona isn't looking. The profit on this one is $253,417
Click to enlarge

If you find your way down here, we'll have some great Mexican food. Is Azteca still in business in Seattle? That's pretty good Mexican for seafood city. (I'm tired of salmon, except maybe Ivar's or Tillicum Village)

 There are Azteca's around the Seattle area, yeah. But it's so rough now, it's hard to go anywhere without being around sketchy junkies, homeless people on drugs raging, etc. Do you get appreciation down there in Scottsdale? In comparison to Seattle?

 I almost moved to Vegas in 2017, I even interviewed for a job out there, was flown out for the interview, etc. I didn't get the job and the state turned more and more blue, so I decided against it. At this point though, it has to be better than the west coast. Idaho seems interesting. States with an income tax have lower property taxes normally. Nevada taxes the casinos instead...

My rental income is tax free even in an income tax state, as I show now income due to the expenses and depreciation.

In a state with no income tax, I'm getting killed by property taxes of 7K a year for each property. Some would be 10K if I had not sold those year ago.

I'm considering leaving this state, it's a dumpster fire, criminals and tenants have all the rights. We were the only state in the country that allowed people not to pay with no proof they lost their job during COVID, etc.

I noticed the other day that houses of similar size and quality in Fresno, CA sell for 250-300K and property taxes are MUUUCH cheaper. Rents are actually the same as my expensive properties here, which cost 3 times what a comparable house in Fresno costs. But CA has even friendlier tenant laws so they are out....

I'd like to find a state where I can 1031 the rentals and have more cash flow and less expenses, as well as laws that aren't outright theft of my property by the government for years at a time to give free housing to people at my expense...(luckily all my tenants paid, but I hear apartment owners got screwed by the bottom feeders. Apparently SFR has higher caliber tenants).

What cities and areas? Please no Memphis, etc. Florida is also out due to insurance costs. I have considered Nashville area...low taxes, more favorable laws, better cash flow and you still get some appreciation. Maybe not as much as WA, but...

Quote from @Nathan Harden:

Quote from @Jack B.:

Quote from @Nathan Harden:

Just ignore him. If he wants to try and get some higher up authorities involved, then go from there if that day ever comes.

Call his bluff essentially. Then if he continues to bug you, bring up the driveway and ask if he wants to go down the route of the fence then you'll explore the driveway issue at the same time.

 I was able to find this after all, even though the county records showed no easement, a document search showed one. It was granted to some water company, but it looks like what I suspect to be general easement terms for ingress and egress that would give him right to use my driveway after all, bummer...

 I mean, do you think the guy would ever be able to find this...? Or put in the effort to find this? I still think you sit back and call his bluff about him doing anything about it. Again, that's just my opinion.

 The guy is retired Military Police, Sergeant Major, it's like the highest rank for an enlisted (not commissioned Officer), my buddy immediately almost collapsed, citing that when he was in the military, guys like this were huge aholes and liked to bully people around them. He said now that this guys is retired he has no outlet. If I ignore him long enough he will go away. Said it's unlikely that he will escalate to a lawsuit over the fence.  

Ultimately I hired a guy to dig the dirt away from the fence and the fence was bent upright a bit more, you can't even tell it was leaning anymore really. The neighbor even sent ME a picture of it after it was bent upright more. Still functions as a fence. I highly doubt a judge would make me replace the whole fence. I took reasonable steps IMO and the fence still serves it's purpose. The guy is just an ahole. Thoughts?

FYSA, I did consult an attorney on this. He said I could use Etsy to send a cheap cease and desist letter. WA law requires us to split the cost of a fence IF my property uses his fence to enclose itself. But in that section, it doesn't, since he has to use my driveway to access his property. Moreover, I pointed out and sent him a picture, that I had someone dig the dirt away from the fence and the fence (chainlinked) is still standing. My guy bent it upright a bit too. If you saw the picture, it's standing just fine and functions just fine as a fence. I feel like I took reasonable steps to move the dirt, the fence is still functioning as a fence. I can't see him trying to hire an attorney to sue me for this. I would think a judge would see that I took reasonable steps, the fence and hill have been like that for years before he and I bought our houses there, and the fence functions just fine. 

This guy was ex military police and seems to be an authoritarian who thinks everyone is under him because he thinks he's still a Sergeant.